Let Singaporeans own MRT and Public Transport

Time to Nationalise MRT and Public Buses

By MIKOspace

Thinking the Possible ….

A year of bumper profits for SMRT.  Global oil prices have dropped by more than 50% in the last 6 months and would fall further in 2015 and not expected to recover much over the next few years. Gas prices have begun to follow the decline and the costs of grid electricity generation by our gas-power power stations would reduce even further.  Public transports especially buses and taxis would have their fuel bills greatly reduced. The fuel costs of MRT trains, mostly using grid electricity, should also fall according.

In the light of mostly good news for MRT and public transport operators, 2015 should also have been a great year for MRT and public bus commuters.  But, HOLD Your BRAKES, People … !

Remember January 2014 last year? That’s when SMRT announced that its profit had fallen by more than 40% and therefore it had to raise its fare, which it did by 3.2% last year in 2014.

Then suddenly in January 2015, SBS and SMRT both apply for fare hikes citing rising costs and lower profits. And without showing any statistics for its pleading of rising costs, public transport fares will increase 2.8% by April 2015.  This is truly unbelievable!

Just three months ago in October 2014, SMRT actually reported that its PATMI (profit after tax and minority interests) for the 2nd quarter (July-Sep 2014) of the current financial year rose sharply by 75.5% year-on-year to S$25.3 million!  Its operating profit for the same quarter also increased 66.5% compared to a year ago to S$33.3 million!

With fuel costs sharply down and huge bumper profits, whither rising costs, SMRT?  And SBS, have you not heard that oil prices has dropped by more than 50% in the last 6 months?

Of course from a strictly business profit-making perspective without any social consideration, the commuter “cows” can still be squeezed and milked for more revenue, when one can usually get away without any consequences.  This is especially so when bus and MRT commuters are captive customers and have any viable alternatives other than bicycling or expensive motoring.

This is perhaps the BEST time to consider again The Big Question: Should the MRT and public buses be Nationalised for the Greater Social Good?  The answer is a resounding “Yes”!

The Case for Nationalisation has never been stronger and is overwhelmingly compelling now given the profiteering tendency of the MRT and public bus companies.

The usual counter-argument that private companies are more efficient is no longer tenable in the light of the latest arbitrary, non-transparent and unreasonable public transport fare hike. 

Using S$7.5million of public funds to subsidise already highly profitable private companies is NOT efficient, and a really BAD idea.

In the Nationalised MRT and public bus companies, the use of public social assets does not have to be charged at all.  This boosts profits immediately as the accounting system is re-calibrated to reflect the social investments, and thereby lowers overall costs to boost profits even at lower fare levels.  Social equity and justice is restored and preserved. Profit-sharing with commuters can reduce their transport cost (MRT and public bus) which is currently about $250-$450 per month per person. This constitutes about 15%-35% of the individual monthly salary of most commuters and increases their income by the same quantum.  

Returning Profits to Singaporean Commuters  

Under a Commuters Profit-Sharing (CPS) Scheme, Singaporean commuters (including fare-paying children) can register up to two MRT Transit Farecards or Cashcards in their name.  Such commuter information is used to add back profit-sharing amounts, via the Fare Machine, into their respect Farecards or Cashcards at the end of each financial year.  The profits of nationalised  MRT and public bus companies at the end of the financial year can be proportionally shared in the 30:30:40 ratios.

More ...... 

   

Read Complete Article:

Should Singapore Nationalise our Transport Companies?

http://miko-wisdom.blogspot.sg/2015/01/should-singapore-nationalise-our-public.html

Medishield Life – A life time living tax

With all its good intent and purpose, there is a sinister side to the Medishield Life Scheme. It is all good for what it sets out to do but it can be deadly to many people it is supposed to help. Just like the minimum sums schemes, the intent was good but the effect can be very painful and can even kill. What is the point of dipping into the bank accounts of the citizens to take their money and telling them they can live well when they are 99 or 100 years but they would starve to death tomorrow?

The Medishield has this wicked element in the scheme. It is a life tax from birth to death. One has to start paying from the day one starts breathing to the day one stops breathing. Not paying is a criminal offence. The parents would have to pay for their children and would have to pay for their parents as well, a real sandwich that must pay for three generations of living family members. Not many senior citizens would have the money to pay after 60, let alone at 80, 90 or 100 and above. Many would be jobless way before 60. How are they going to pay for a life time of premiums, particularly in the late years when they have no income?

Who in his sound mind would expect the retired, the jobless, to pay for Medishield Life premiums when they don’t even have enough to eat? Do they think everyone is a LKY or a Nathan or a Pillay and can afford to pay forever? Anyone with designs on the few dollars left in the pockets of the seniors, for whatever farcical excuses or good, is wicked and mean. It is a very vicious intent to rob the old. Leave the old and feeble alone, they need help, all kinds of help, especially financial help. How can any sensible and good people, with a good heart, forget about those with bad hearts, designed a scheme to take money from the oldies until they die?

The sandwiched parents/children and the Silver Brigade must stand up to resist this demonic attempt to take money from the oldies. They have to do it now before it becomes a law in the hands of the heartless politicians and civil servants. They must go to their MPs to tell them that this is very wrong and unacceptable. Putting a financial burden on the very old and feeble is unthinkable in a civilised society.

What have their parents been teaching them about taking care of those that need to be taken care off? Taking care of them is not using the mouth and then dipping the hands into their pockets. A govt of wise and caring people must know, it is not rocket science, that old people have no money unless they are the likes of LKY and Nathan.  The govt must provide for their medical care. It is a debt to these seniors, it is being caring and grateful, being human, not money grabbing assholes.

All the MPs that are human, with a little human milk of kindness in them, must not allow this life tax on the oldies to get pass. It is time they do something that will be good for their own hearts. Stop robbing the oldies.

SGX – Smaller board lot of 100 shares

Who really benefits from this change? My grandchildren are too young to open an account to buy shares using their angpow money. Many youngsters are also too young to open an account to buy shares with their pocket money. Maybe the aunties could save a few dollars from their marketing budget to buy 100 shares of penny stocks. How would it improve market liquidity and volumes?
 
I can only see the computer trading ticking 100 shares at a time instead of 1,000 shares at a time. Looks like the computer traders will make a lot of savings as their cost is going to be down by 90%, from buying 1000 shares to buying 100 shares at a time.
 
Is this the real reason for cutting down the board lot size to 100 shares? Any rocket scientist or mathematician wants to try to figure out this complex and complicated change? Who are the real beneficiaries of this change? And who is going to make more profits from this change?

Xi Jinping – Basic salary $2450 per month

Xi Jinping’s salary got a big boost, a 62% increase from 7,020 yuan to 11,385 yuan($2,450). It was about $1,500 pm before the raise. In the most expensive city in Asia, Singapore, $1,500 pm is below poverty line. Ok, Ok, some said $1,000 can buy a public flat. So feel free to listen to whoever you want to believe in. But a household income of $3,000 pm will qualify for govt assistance in many things in Singapore.
 
Just wondering how would Xi Jinping, the President of PRC is going to survive with that kind of salary if he is to come here for a holiday. Our minister will quit if they did not get their million dollar salaries. Why would Xi Jinping accept this kind of pittance salary and will to work happily without telling the Chinese people that he is making a huge financial sacrifice for accepting the job?
 
I would like to suggest to the Chinese people to petition their govt to pay their President at least $10,000 pm. It may not be much, but at least he would be able to live more reasonably if he wants to retire in Sin City. Of course at $10,000 pm it would not do much for his dignity here. But he can remain anonymous and live quietly in a public flat.
 
It is outrageous to pay the President of PRC $2,450 pm as basic salary. My part time MP’s allowance is $16,000 pm, not counting his proper income and the director’s fees he is collecting.

Hng Khiang: Singapore will benefit from lower oil prices

This must be true. How can it not be went the cost of oil goes down and industries paying for lower oil cannot benefit from it? SIA is a big beneficiary of low oil prices. All transportation companies using oil as fuel will have lower operating cost which will translate to higher profit margin. Taxi operators, bus and train operators. School buses, heavy industries that uses oil and electrical power must also enjoy big savings.
 
On a personal basis, car owners must by paying must lower petrol prices at the pump. I can vouch for that as my petrol bill is coming down. And surely train and bus commuters must also be direct beneficiaries of lower oil prices.
 
Everyone must be waiting eagerly for bus and train fares to fall. Petrol companies have been slow but eventually have to lower pump prices. Just wait, the bus and train companies are slow but the prices must come down. This has proven not to be with this morning’s announcement that public transport fares will rise by 1 ot 10 cents.
 
I think it will need a super genius to explain why bus and train fares must go up when oil prices gone down by almost 50%. And it would need an exceptional idiotic people to believe the reasoning is sensible and logical. It can only happen in a country where the leaders are gifted with super intelligence and the people are so daft that they would believe and accept every disingenuous reasons coming from the leaders. And the leaders knew they could get away with it and the people would not be able to do anything about it, not even voting them out of the govt. Because the leaders knew that the people idolized them and wanted them to be the rulers come what may.
 
And some people are very happy with the increases, especially those that are not taking public transport or are high income earners. What is a few cents? See, the commuters are benefitting from lower oil prices by having lower fare hikes. And they are exclaiming, 'Heng ah, or else they will have to pay much more.' So lucky, so grateful for the little mercy.