12/16/2017

SMRT taken private - It is so funny

This was the reason for taking SMRT private last year, delisting from the SGX. “Taking SMRT private is part of our journey to support it in its focus to be among the very best in the world, through operational and engineering excellence.” It is so funny that I find it so hard to laugh. So now we have it, SMRT is going to be better, the best in the world by being a private company owned by the govt and run by the govt. If it stayed as a public listed company, it is not going to get anywhere near being the best in the world.
 

SMRT Chairman’s statement in 2001, … ‘However, whilst we aim at enhancing shareholder value, we maintain an unwavering focus on the core mission of providing safe, reliable, convenient, ef๏ฌcient and affordable transportation on the MRTsystem and the Bukit Panjang LRToperation. Re๏ฌ‚ecting this philosophy, we shall not skimp on training, maintenance, repair and overhaul expenditures, even as we address the containment of other expenses.’
 

The above statement was made in 2001 when SMRT was privatised into a public company listed in the Stock Exchange. This was different from the recent privatisation from a public listed company backed to a govt owned company. I know, the word privatisation is confusing. Privatising a govt owned company into a public listed company or a public company and then privatised a public company into a govt owned company.
 

What is more queer were the reasons given for the first privatisation. The mantra of the day was that a govt owned company could become more efficient and better run if it was privatised and run by private professionals, not civil servants, and run on the basis of profit making and be accountable to shareholders. This had an underlying assumption that civil servants were inept and thus the company needed to be privatised and run like public company.
 

The latest privatised privatised SMRT, the double speak is as what it was, confirmed that the previous mantra that a govt company privatised into a public company, I know it sounds funny, is not working. So a privatised public company now must be privatised into a govt owned company run by public/civil servants again.
 

Anyone see the contradiction? Another case of LPPL? Privatised into public company to be more efficient, now privatised a public company back to a govt owned and run company? Now you remember why the SMRT was privatised in the first place?
 

For this second privatisation to be working, it means that the old mantra was false, that civil servants could not run a govt owned/stats board company well. And the new mantra is that civil servants are good at running govt owned/stats board companies. No need to privatise to be efficient.
 

What do you think?

34 comments:

Anonymous said...

This little red dot aSsMrt system runs like a mockery of its own Gobblemen, seems like the Japs online song P-PAP ( Pen+Pineapple+Apple+Pen or vice versa)...

Anonymous said...

Rb, well written but u now confused me leh. So it's public servant better in running mrt or not.

Anonymous said...

May our beloved Singapore not be loonggang by foolish evil and greedy people.

Anonymous said...

@anon 9.04am

The song goes like this:

" I have a Private..I have a ZaSmrt...uah...Private-ZaSmrt..I have a Privatized Gobblemen...I have a ZaSmrt...uah ....Private -Privatized Gobblemen ZaSmrt..

Private ZaSmrt Private Privatized Gobblemen ZaSmrt...
PZPPGZ..."

Virgo49 said...

Privatized Government means running a government based on Profits.

Singapore Inc; Citizens pay the market price as price takers as set by the Price Givers, I.e. the PAP.

Our Ministers not as Public Servants as calling to serve the People but to be Masters of the People.

We get as much as Bosses and you are the servants or slaves.

Can changkol, changkol and lived in luxuries.

You, low lives learn and lived to changkol for a living.

NS Slavery Men changkol to defend our arses.

We set the Price for everything in Sinkieland including your heads and dumb brains.

Noose on your necks that we pulled, you cannot even breathe.

Our Famous Motto : What's wrong with making MONIES? ??

You die, your business or you are useless.

Anonymous said...

Anyone see the contradiction? Another case of LPPL? - redbean


LPPL
----
hokkien (chinese dialect), commonly used in singapore.
literally means to bang your balls against your dick.
used when you are stuck in a situation and no matter how you try to change it, the end result is the same.

EXAMPLE
---------
Every PAP MP is all the same. All vote the same way in parliament.
Voting PAP and hoping for "change from within" is LPPL.

https://www.urbandictionary.com/define.php?term=lppl

Chua Chin Leng aka redbean said...

Matilah once asked, who are the biggest gangsters?

Anonymous said...

The most messy work was to construct the S$5billion mrt system. Michael fam was a hdb man did as chairman. When it first ran, the ewns lines were cool. Always had seats. The problems began in 2011 and reached the worst on 7 July 2015. People would remember one wp mp were stranded on the big breakdown and took pictures with him. Mrt was a joke. When kids having exams, parents always double check the apps to look out for sign of breakdowns. However, smart mrt company would not put in twitter to give advance warning. Hide and seek game is the most irritating.
Many will remember taking mrt at je or even novena need waiting for 5 trains to pass before they could board. Taking mrt was a torture. But then taking bus was as bad. The never come for 20 minutes. When they arrive, they came with 2 buses of the same route number.
When going home, buses at popular mrt stations would not move. The buses were so full up that the drivers could not close the doors. The drivers would stand up get near the door to plead with passengers "please please take the one coming".
Some buses were not aircon.

Those messy passengers scenes started from the son s time. It was unforgettable and unforgivable.

The mrt was passed to civil servants seconded new mrt company as listed entity. What s the difference was: the son put an aunties never married having ferrari and merc permanent resident as ceo. One can imagine that sales auntie enjoyed her single life with money pouring onto pocket in sin dollars by millions and she coverts them into malaysian dollars. The mrt tracks horseshoes got plastic strings to tie together for the multitons mrt carriages to run through.
That was sinkieland s mrt technology. Not i said it to make fun. it was reported that the minister found it when inspecting the tracks.

Whether mrt is a listed company or govt own setup, the people running mrt are the same pool of people. The technology was bad. From bad to worst when jobs like checks on auto trigger water clearing system was NOT monitored online.
It was a shock to most pmet. The flooding track could have been solve not by sacking the maintenance chief as he would not check personally, but the ground level mostly foreigners workers simply did not bother, together with the supervisors. it is a very dangerous state as many parts of such crucial parts in installations are given to foreigners to upkeep. When flooding happens, the entire maintenance team should be sacked.

Mrt is no reliable for serious businessmen or women. Driving own cars is most reliable. Thats what the son wants. Can tax coe at highest world price. Mess up the mrt with top management and lower level with foreigners might be good for sinkieland. It makes sinkieland s mrt reported worldwide. Scmp post talked about it, taiwan tv talked about it. Sinkies should feel proud for mrt breakdown. The malaysian turned singaporean minister will fix it. Sinkies cannot live without foreigners to help solve their mrt problems. Now it develops new normal. Certain days has no mrt to run. That s sinkieland s mrt. If it happens at shanghai or beijing, where the son cracked joke abot turning on tap got pork soup, mrt breaks down on these places might cause huge commotions and the crowd lining up will be like cny going home crowd.

Strange to sinkies, how come china chinese mrt could handle never seen huge crowd without mrt breaking down? How come mrt often breakdown during exam time? That s the usefulness of mrt. Get the exam going candidates to rush and lose their heads, so that those students fetch by cars can score As and get scholarshits. May mrt breakdown more often to help the elites to own cars.

Anonymous said...


Yes! It is LPPL!

In Sg a lot things,,,,,,,LPPL!

No eye to see! ๐Ÿ˜Ž๐Ÿ˜Ž๐Ÿ˜Ž๐Ÿ˜Ž

Sg is like that liao! ๐Ÿ‘Ž๐Ÿ‘Ž๐Ÿ‘Ž๐Ÿ‘Ž

Sad!๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ

Anonymous said...

/// Whether mrt is a listed company or govt own setup, the people running mrt are the same pool of people. ///
December 16, 2017 10:47 am

MRT has new ownership.
But the same old people in management.

New corporate vision.
But the same old people executing the vision.

New Prime Minister.
But the same old people in the cabinet and parliament.

"Change from within."

Are all these examples of LPPL?

Anonymous said...

Aiya, tikam tikam lah.

Try this no good, try another lah. And keep on trying.

Sinkie voters should do the same. Already tried PAP but no good, so must try opposition.

If opposition no good, use back PAP again lor. LOL

Always remember, keep on trying, until it works.

That's how Thomas Edison became the greatest inventor mankind has ever produced.

Or how some can become instant Toto multi-millionaires when they keep on trying, I mean buy Toto lah.

Virgo49 said...

Right, no need system 12 nearly one K like the PAP parrots.

Just sys 7 or Ordinary Entry at S $1.00 for WP .

You still get the 8 and 4 millions.

Cheers

Anonymous said...

Listen.

For SMRT to improve reliability on its operations, it must spend a lot more on maintenance. To fund the maintenance by raising fares for all commuters would be losing political capital.

My advice to the PAP government is to double only the MRT fares paid by foreigners to raise the funds, and that's a sizable source of funds as there are more than 2 million foreigners commuting to work within Singapore !

jjgg said...

Rb misses a billion $ point.. government gave plenty money to smrt.. how to write off the hand out while smrt remain public? Better privatise then ownself forgive ownself debts.. all the healthcare n welfare to the ppl amount to 1 billion or not.. I oso donch know hehe.. public or private company doesn't really matter cos smrt still run by the same jokers and if temsick really invests in other companies the way they invest in smrt it becomes scarier because they really know fuck all about running public ttransport.

Anonymous said...

My advice to the PAP government is to double only the MRT fares paid by foreigners to raise the funds, and that's a sizable source of funds as there are more than 2 million foreigners commuting to work within Singapore !
12:35 pm

Correct. Foreigners cannot vote, so no political capital to lose for PAP.

And foreigners must use special type of MRT cards which will pay double the fare. Jiu Hu (Malaysians) will still come, as long as Sing dollar is 3 times the ringgit. Still wu hua mah. (worth it).

Anonymous said...

"... and if temsick really invests in other companies the way they invest in smrt it becomes scarier because they really know fuck all about running public ttransport."
December 16, 2017 12:37 pm

What about PAP?
Do you think they know fuck all about running a cuntry?

What about Singaporeans?
Do you think we know fuck all about voting for patriots who care about Singaporeans?

Anonymous said...

Do you think they know fuck all about running a cuntry?
12:49 pm

It's not whether they fuck all or no fuck.

It's whether they fuck more or fuck less.

And 70% Sinkies think PAP fuck less, as compared to opposition.

Anonymous said...

11:36am
The bus system improved when the angmor Goahead has its own pay and incentives, own uniforms and own hired staff.
When chinese bus drivers were used to replace local/malaysian bus drivers, their salary was $1200pm. How to imagine workers wake up at 4:30am to drive the first bus and go home at 2:30am to earn $1200pm?

Now they improve the salary to compete with Goahead, bus drivers can see local faces. It s the "fat top squeezed bottom" animal farm system. Pap s salary system.
Unemployment statistics also plays the tricks in citizens employment. They will continue to use foreigners labor cheap in salary until no more in this world, in order to pay themselves and bosses more and more.
Where can they get chinese drivers now?

Mrt breakdown problems cannot go away because of the fat top pay system. Those at the bottom will not stay especially the top management could not work effectively as a force.

Do u advise your related to be technician in company like tat one? Recalled when technicians killed by the moving train, the ceo general had press conference telling mrt complied with safety procedures. Imagine if safety procedures such as red flag to warn repair work on track ahead, yet the moving train moved forward, who was to be blamed? The fault pushed down. The fat pay pushed up.
This kind of organization needs change from the top down. Eliminate the foreigners who only want cheap pay. But then the top will not get big fat pay for few individuals, the son does not want. Its pap system.

Voters must vote for a fair pay system for the whole sinkieland to follow. Go back to compare with those countries like china japan and hk to see how the organizations are paid, and not to follow the US kind of system. US ceo needs to control the entire US, its not sinkieland size. Sinkieland in gdp is smaller than shanghai beijing guanzhou and shengzheng EACH.
The volumes of decisions is far too little comparing to ceo in US.
Voters should use their heads> Vote for opposition and not to be bluffed by these politicians.

Anonymous said...


Don't worry 104pm sir.

You think voters will use their heads?

You think they will vote for the opposition?

Tan ku ku lah! You will be greatly disappointed!

But it is always very good to be optimistic!

All the best!

Anonymous said...

The pap saw this coming. Let's look back:

The pap planned this long ago, 1st, they introduced using billion tax monies to buy supposedly public listed bus company assets which are seen as liability as these need maintenance and replacement. Next they used tax monies again to buy up mrt assets(liability) followed by guaranteeing smrt 5% tax profit annually before taking them private. If these were not planned, I don't know what is this?

So conclusion is the civil servants know they are no better than the really public run company, they need our tax monies to make them look good on the surface.

But to think of it, who can't run these type of company? I am sure many of us can do equally good if not better? One thing we can be sure is we can do it cheaper, quarter of CEO's salary, do you agree?

Anonymous said...

2:03pm
U will be disappointed. Tell u because u never watch tv, so hard work to make money. In far away Zimbabwe one old fart like but longer ruling time Mugabe was stripped off his power from job.

The poorest least educated africans know what are good for them what are bad for them.

Everyone work. They watch what other countries make out of the same jobs, they watch why other citizens get jobs they sinkies cannot. British citizens kicked EU out due to immigrants. Merkel lost and could not form govt till now because of immigrants.
Ur beloved son can get in 7 migrants without being kicked out by sinkies voters? U should answer this question. It will not be too long. Stay healthy to get the answer.

Anonymous said...


hi 2.28pm, icic,.......

thanks.....,,

Anonymous said...

They first ran the trains with civil servants. Not happy, then privatised. Still don't work. By now they have tried foot soldiers, navy man, salesgirl, bankers, politicians, all just cannot get the act together as if Humpty Dumpty cannot be put together again. Now they are putting a businessman to be full time to supervise the soldier.

I think still got a few professions they have yet to try, doctors, and what about the all knowing lawyers? Oh still got scientists and PhDs, the academics. The last one they would try would be a professional train man.

How about hiring the Virgin man from the Airline?

Anonymous said...

@anon 4.26pm

Probably, little red dot short of talents pool supply...& the last they gonna to try r the prostitutes & pimps ...no? ashmrt got screwed because of these fellows or they r not called for that name ass Prostitutes and Pimps for no reasons?...
Still can't do it, think they better go screw themselves up Lah...

b said...

Gahmen purposely screwed up to force sinkies to move overseas so they can import more foreigners to screw them.

Anonymous said...

4:59pm
This is the motive the gahmen, sinkies should put the votes to opposition. They will be like GY never heard again. It is very easy.

Sinkie asked form $3k as grad, experience audit. A pinoy grad wanted $1.8k, experience custcare. An idian wanted $2k, same experience. The employer wanted which one? This was in independent article.

A lot of sinkies got intimidated. Sinkie asked for too much? If they think so, they are Pap men. Will an educated ask for $1.8 to live in sinkieland as a grad? He cannot have a kid and wife. Not to talk about feeding the parents at old age.

Therefore gahmen are forcing sinkies to choose. Want a gahmen to get pinoy grad at $1.8k or want a gahmen (opposition) to force hiring grad at $3k.
Voters should make that choice in 2020GE.

Remind u: when firms hiring pinoys at $1.8k or indian $2k, they cannot do marketing, they might not do IT or admin jobs. In general, they cannot help go markets in the east which use square words.

Sinkieland s products like hardware in IT are not salable in china market. Not even local market because it cannot work. No joke. cannot work and the products are produced by pinoys and indians (whole workshop are them). Bring back the new products to ask them to prove it works. They could not. And had the good sense of giving u a new package the same one to try again.

Heard of scientist Einstein said: trying the same way over and over again is insane. Those scientific pinoys and indians did just that. Those politicians collecting million dollars salaries do just that.

Voters should vote for opposition because they are not insane.

Anonymous said...

You Singaporean fuckers should be grateful to PAP that you live in a 1st world country.
If you live in Malaysia, this is what you will have to put up with.
Be grateful that such things don't happen in Singapore.
++++++++++++++++++++

Dr Mahathir: Giving Money To People Is Not Going To Make You Popular
(5 minute talk by Mahatir)

https://www.youtube.com/watch?v=slYM-icWyFw

Anonymous said...

Right hand passed to left hand. So many good reasons and expectations.

Left hand passed back to right hand. Again so many good reasons and expections.

Then the ballon burst. Now can they tell us which is better?

Same as ownself check ownself, nothing more nothing less.

Anonymous said...

How can death occurs at presdent gate.somemore the road only
1 lane.puzzzeling.????sg really up side down.like bad air/luck fills everywhere.jink

Anonymous said...

Really Knn very tulan

Anonymous said...

Would there be a third privatisation with the SMRT being bought over by an individual and be truly privatised?

Anonymous said...

Would there be a third privatisation with the SMRT being bought over by an individual and be truly privatised?
December 17, 2017 9:19 am

"Truly privatised" ?
- nothing is forever
- everywhere in the world, the prata is being flipped
- this is what private equity companies do.

But should this be what a government and/or its affiliate entities be doing?
What do you think?

Anonymous said...

Nothing is truly privatised in red dot.

It was all designed to pull wool over daft Sinkies face. What has been privatised and not still under the control of the Government or Temasek? They have been fooling the dafties for the last 50 years.

Anonymous said...

At first, they tot MRT can make money, especially when new. So, cunning people put SMRT was "sold" The-Ma-Sick (from mom to daughter in the "laws") to make profits to increase the CEO and cronies pay. It was privtised but with public listing.

Then, after engaging a Duty-Free Sales Spinster to screw up SMRT, and problems became so great that a Millionaire Minister had to resign to take the rap. Then SMRt was "sold" to the government. (from wife to husband). It became public and "governmented".

Now, SMRT problems become even greater, after $8 Heart who dare not harakiri, volunteered to solve the problems, thinking they were chicken feets, the small boys who used to play masak-masak, want to make it private again.

Flip-flop, flip-flop and flip-flop.
This is the way clueless scholar boys resort.
What a world's laughing stock!