‘Announced yesterday (Nov 4), the Land Transport Authority (LTA) ruled that only Temasek Holdings-owned companies SMRT and SBS Transit are allowed to bid for the new Thomson-East Coast Line (TEL).
Profits of the successful bidder will be guaranteed under the new contractual model where taxpayers will bear the revenue risk. PAP MP Ang Hin Kee claimed that when profits are guaranteed, the company will focus on quality:
“When you remove the revenue risk, meeting the service standards becomes the focal point of an operator’s ability to deliver.”’
I think all businessmen would love this formula. They should all make an application to the govt for a guaranteed profit figure and then promise to improve the quality of their service or products. How about that, go takers or not? Let’s start with SIA, can buy back NOL and use this formula, who else want to take up this formula? How about HDB, profit guaranteed, no more billion dollar losses, and quality sure to improve. How about our universities, guaranteed profits to produce quality graduates, no mismatch? How about the telcos, SBS, the taxi drivers?
All the shops in Orchard Road would be forming a beeline to the government office to apply for guaranteed profits to improve products and services. This idea or concept is simply brilliant. I would never have thought of it and I don’t think anyone in the whole wide world would be able to come with such a clever idea. Count on the million dollar talents to come out with such an ‘out of the world idea’ to match out of the world salary. Now you can see the result of paying million dollars for million dollar ideas. Be grateful.
Soon all the companies in Singapore would be making profits and improving the quality of their products and services. Praise must be given when it is due. Another Uniquely Singapore innovative idea. Nevermind if the risk is borne by taxpayers. Our taxpayers are very rich. Sorry taxpayers, or shall I say thank you taxpayers, you are so kind and generous?
PS. I also want to go into business when profits are guaranteed.