12/18/2014
Singapore will be in deep trouble, now you know
Today Singaporeans are greeted with two pieces of depressing news. Two of the country’s largest monopolies, the transport companies and the HDB are in trouble, with the HDB announcing a deficit of $2b! Cannot imagine how a monopoly housing developer that controls everything, from land prices, contractors, construction workers and pricing of the units for sale could lose so much money over a year.
In the case of the transport companies, with oil prices hitting the roof, I think, with labour cost going up and up, with bonuses going up and up for good performances, with upgrading and more new buses and trains, it cannot be helped but to apply for fare hikes. And the govt is so kind, Lui Tuck Yew said the maximum allowed to hike is 2.8%. And the transport companies will be helping a lot of commuters to lower the fares for them. Where in the world got so good things. The companies must be running at a loss and need higher fares to cover their operating costs, and still got to help commuters like students, seniors and concession card holders. If not how to justify for fare hikes? Say thank you quickly and for the little mercy of only 2.8% fare hikes. Be grateful.
As for the HDB, it is giving so much subsidies and discounts and losing $2b is very lucky. Please don’t ask them how they arrived at the big loss. It is embarrassing. Just accept it like all the good analysts and housing agencies did. The figures are honest, transparent and fully accountable. So the loss must be real.
Maybe HDB should bring back Mah Bow Tan to manage it. The losses would be much lower, maybe $1b. Or maybe should ask Liew Mun Leong or Quek Leng Beng or Redas to assist the HDB on how to run the biggest monopoly public housing agency and still make money. This kind of operation requires geniuses and private entrepreneurs’ talent to do the trick. But if these people claim conflict of interests and refuse to come on board, go around the world to find the best talented CEO to take over. Just issue the guy with a pink IC and all the problem will be solved. India and China and even the Philippines would have such talents and most willing to take the job with the pay we are paying. They may even settle for half the pay as they are hungry and will work doubly hard. Then HDB would be able to sell highly subsidized public flats and no need to lose so much money.
Maybe the opposition parties can volunteer to take up the challenge to run HDB for a term. Oops, maybe a term is too short, not fair, how about a long term, say 20 years or 30 years to turn HDB around and make HDB owners happy as well? This type of projects cannot be for short term one, the duration of each building programme is at least 4 years. The WP should propose this in Parliament to take over HDB for the next 30 years. This is only reasonable as short term sure got short term problems. In the long run everything will be fine.
But if all things remain the same, please make sure the PAP remains in power or Singapore will be in deep trouble. HBD and public transport are two good examples to show how wrong things can be.
Kopi Level - Green
Subscribe to:
Post Comments (Atom)
33 comments:
Two of the country’s largest monopolies, the transport companies and the HDB are in trouble, with the HDB announcing a deficit of $2b!
RB
Since the Sinkie opposition is not ready to be govt, it's up to PAP govt to announce what amount of deficit, or which Town Council corporate governance they view with grave concern mah, tio bo?
If only Teochew Ah Hia party can be govt, they can also do the same what. Maybe they will announce to Sinkies: Want to pay, pay lah, don't want to pay now, never mind, pay later lah. If like that, don't know what will be the deficit hor?
Tomorrow I will pay.
Next day, how come not yet paid? I say tomorrow what.
Another two good reasons to try the NEW chicken rice shop down the road.
I cannot make money! Can you all see that I am subsidizing every plate of Chicken rice at my own personal cost! So what if there is no real chicken meat! Didn't you all watch the movie Matrix when that turn coat was gobbling down that juicy medium rare steak....was that real! Be happy with chicken backside and portions of neck plus eyes, lips, ears, tongue all mashed up. Don't complain. Be happy.
To be continued
Darkness 2014
P.S there is one thing I learnt in life. Pick a spot and keep hitting it again and again. Soon it will all come crashing down like a rotting door.
There are too many less than half filled buses running on the roads. A lot of buses come at the same time, one example bus number 43 and 43M. I wonder why they need service 43M, from Punggol to Serangoon? Bad planning and waste tax payers money.
I want a Singaporean to represent me in parliament.
I don't want a tax funded Millionaire to represent me in parliament.
This reminds me of a blog I saw back in March 2012:
Nothing has changed since 2012.
Same old PAPig shit over and over again.
-------------
Budget 2012: $1.1 billion Bus Services Enhancement Fund
Source:
http://ifonlysingaporeans.blogspot.sg/2012/03/budget-2012-11-billion-bus-services.html#sthash.SqeqUXtA.dpuf
With oil being 1/3 of cost, fare should be down 1/6 since oil has dropped 50%, Tio bo? How come that clown said got increase some more?
When oil price is about half its price at its peak, they are still asking for fare hikes. What would happen if oil price goes up again? Singapore will not be in trouble, the poor commuters will be in deep trouble.
This fare hike is a sure sign of desperation that money not enough. No one in his right mind would think of hiking fares when oil prices fell by 50%. Only gamblers who have lost all his money will act this way.
"The WP should propose this in Parliament to take over HDB for the next 30 years. This is only reasonable as short term sure got short term problems. In the long run everything will be fine. "- RB
This is the most constructive idea I heard unlike many others here blaring complaints upon complaints about what's wrong with the current system.
Ask WP to take over HDB building programme. Why stop at HDB? Ask them take over SingHealth and SMRT as well !! I will kee chiu with my hand and feet. WP will showcase what they are capable of, like what they did so well a job at Aljunied-Hougang GRC. If got problems, just stonewall silence or blame others. There are many possible ministries that WP can blame if building HDB got problems: LTA, SLA, MND, PAP, utilities board, Attorney Gen office, Manpower Ministry , MOF etc etc....the list is endless. They would have blamed SMRT too but since they also take over SMRT, cannot. WP will be able to publish audited accounts on time and become transparent and accountable, unlike their current town council, why u ask, I don't know, I just have blind faith in them.
But I m not sure at what price should SLA sell the empty land to WP to build HDB. Should it be market price, then govt subsidise, or should it just sell at rock bottom price? If sell at rock bottom, will others complain ? We need to think this, hopefully other smart netizens can contribute.
I Patriot
Please lah Uncle. for years these cheebye monopolies made masses of money.
So what if they have a few periods of losses? Fuck them. That's the nature of enterprise lah -- up, go up further, then down...
So if the silly fucks want to believe that these are ominous signs in the event of DICTATOR change, allow them to be deluded and enjoy their neuroses.
You and your periods. Your head has moved downstair?
You believe they have lost $2b? When have the transport companies lost money? When you are having your period, don't tock ok.
HDB and SLA are both government agencies. The deficit of one is the profit of the other. Its just a matter of accounting only lah.
Cost $1b. Selling price $4b. Subsidies $2b. Net selling price $2b. Bottom line lost $2b.
My calculation very chun one.
That is why the of Temasek Holdgs which controlled GLC bus companies, should let Mdm Ho Ching the CEO, to speak up and explain the need and rationale to increase fares in such circumstance with the fellow Singaporean commuters because the CEO cares about protecting Singaporean commuters interest.
CEO Ho Ching which cares for Sporeans should take the transport cos to task for wanting to increase fare annually despite growing profits.
Spores already gave up on the PTC !
Chicken farm belong to kakiland. Chicken feed factory also belong to kakiland. Chicken cold storage also belong to kakiland. Chicken shop also belong to kakiland. Kakilan pay peanuts for the worlds hardest working workers. No $3,000 per month dish washer. Also the only chicken rice shop in the whole country. As no one else allowed to compete with this chicken rice shop. Chicken rice proprietor also claim cooks and managers have to be paid the world's highest salary. Since no other chicken rice shop except this shop. Even if no chicken rice in the chicken rice....can still sell.
Now chicken rice owner say he lose money.
Who is dumb enough to believe him.
Maybe it is time to try the NEW chicken rice shop down the road.
Darkness 2014
But I m not sure at what price should SLA sell the empty land to /// WP to build HDB. Should it be market price, then govt subsidise, or should it just sell at rock bottom price? If sell at rock bottom, will others complain ? We need to think this, hopefully other smart netizens can contribute. ///
Patriot
December 18, 2014 10:14 am
Patriot
We need to rebuild Singapore from a fresh and blank piece of paper.
SLA belongs to the Singapore government (and hence Singaporeans).
HDB also belongs to the Singapore government (and hence Singaporeans).
Why do we need so many layers of government agencies?
One government agency selling and buying from another government agency is not efficient and transparent.
We should not perpetuate all these PAP practices.
If PTC does not increase bus fare, maybe the share prices of SBS Transit and SMRT will drop?
And who is the largest shareholder of SBS Transit and SMRT?
Is it the PAP government through GIC and Temasek?
Not only buses the electricity rates should also go down. Even taxi fares which save so so so much from the drop in OIL prices should pass the savings to the commuters
If your PUB goes down then cost of storage for foods should go together with their prices
What we are asking is only fair and simple logic
"What we are asking is only fair and simple logic"
December 18, 2014 1:04 pm
But Singaporeans are not logical.
If logical, we would stopped voting PAP a long time ago.
We are really daft ... old fart was right.
One large supermarket uses so much electricity, imagine how we consumer can benefit if the PUB lower its tariffs quickly and the food chandlers factor that into reduced food prices. We want the savings when the utilities agencies are paying less for the fuel and not to be shortchanged.
Increasing bus fares has the effect of "Raiding the savings of Singaporeans".
/// One large supermarket uses so much electricity, imagine how we consumer can benefit if the PUB lower its tariffs quickly and the food chandlers factor that into reduced food prices. ///
Oil prices drop.
And PTC (PAP government) and the bus companies want to increase bus fares.
Electricity prices drop.
And you think supermarkets will drop prices to share their good fortune with Singaporeans ???!!!
Who owns the supermarkets?
Who owns the bus companies?
Do you think they will share any cost savings with Singaporeans?
Wait next time every constituency one mayor. Then every region one regional mayor. Then whole island have one chief mayor.
Like dat good or not?
Two of the country’s largest monopolies, the transport companies and the HDB are in trouble, with the HDB announcing a deficit of $2b!
RB
- well said. the papists are never ready to government from day 1. sometimes wonder whether they know anything about setting up public (not private) policy. they are probably busying emptying out monies from the public hands into youknowlah private hands. in the event they lose in GE and call in the military, hope the soldiers and policemen do not take blind orders from the villians.
When they built one bedroom flat for family of 4 to live in, we should all know long time ago they have no integrity, accountability, moral principles, heart and soul. one more bedroom costs very little to build but would be very helpful for the family. unfortunately, sinkies are daft just as the youknowlah said.
I agree Kwek Leng Beng should be made a minister in charge of public housing.
You have to pay top dollars for top people or there will be a lost of face when they hobnob with top executives in the private sphere. Tio boh?
Anon 12.51 pm
Make Singapore go back Sang Nila Utama times ?
Tio ! We call reset button. Before press reset button, let me sell my HDB first then press reset, after that I buy big big then become millionaire.
Actually SLA belongs to us, you are damn right. I want big big land one, ok, bigger than redbean's and dotseng's one, remember to gimme big one ok because we are friend friend.
"gimme big big one" ok if you learn to speak plopurply. Not only give you big big one but right up your arse too.
How's the weather in England ?
If Singapore has a temperate climate like England, North America, Canada or Australia she will be settled a long time ago by the colonialists from Great Britain and non- whites can stay where the are. We are the post-colonial left-overs.
Post a Comment