Singapore metro operator SMRT Q4 profit jumps 80%
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more fare hikes and more profits for smrt
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You see the way how SMRT a GLC runs their own train and buses... As time goes, slowy reduce train trips and bus freq/ routes...Originally posted by jianfish9:They should really nationalise the public transport.
But then, its no guarantee that they will try to make a profit off the people even if they do nationalise it... -
Originally posted by hloc:
LOL tell them you want to emulate the nation's leaders. By being compared to the first worlds bus drivers. We only want the best bus drivers!!!!
You wait long long....... work for them for 10yrs already and every year the same excuse from top people..... [b]''Save for a rainy day'', "Share holder must be rewarded", "U all are already paid more than (3rd world country, Bus driver, etc)....... Have not get a decent pay rise since 2001. Ever since SMRT when listing at the stock exchange..... the full year bonus have always been less than the 2mths they give when still under govt......
The More profit they get...... the More Share Holder gets..... not the workers
[/b] -
let me show you the equation ....
monopoly +
massive increase in population(read: passengers) +
depressed wages (read: lan lan take public transport) +
sanctioned fare increases
= huge profits
who says you need to be an accountant ? ..... or need to be paid millions a year to make that happen ? ....
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Wiki -- With a fleet of 39,100 buses, taxis and rental vehicles. Headquartered in Singapore, ComfortDelGro also has operations in China, the United Kingdom, Ireland, Australia, Vietnam and Malaysia. Currently, overseas ventures account for up to 44% of the company's revenue. The Group intends to derive half of its total revenue from abroad in the next four to six years.
query : So tiny Spore actually provide 56% of the group revenues? and the revenues are used to fund its overseas expansion?
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ChairmanÂ’s of the co said :
"We entered our fourth year of operations in 2006 with grave concerns over volatile high oil prices which had persisted from the previous year. The situation had a large negative financial impact on us and our share price. In China, the authorities helped the taxi and the bus companies to offset the huge oil costs. In Singapore, on the other hand, we had to subsidise our taxi drivers heavily so that they could continue to earn decent incomes.Despite the volatility of oil prices, we managed to hedge successfully. The Group continued to grow globally despite the various challenges."
"In 2006, we invested S$117.9 million overseas. Together with our
past investments, our total investment abroad is now
S$741.6 million."
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Query :Is PTC in a very difficult position whether to Reject bus hikes given the social reponsibities this co vow to undertake?
Shouldnt PTC has a member from the opposition party ? since the co is owned by the GLC, which is turned contolled by govt Min of Finance, which is in turn controlled by PAP. When will PTC got the political will to CALL for a cut of the fares?
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excerpts from chairman statements
"Shareholders has already been handsomely rewarded as judged by the share price of the Company against the share prices of Comfort and DelGro
immediately prior to the merger. A simple calculation shows that the prices of Comfort and DelGro had risen by an average of close to 23% compounded annually or the past four years. This is in addition to the huge dividends paid each year based on at least 50% of the profit as well as special dividends paid to take advantage of the Section 44 tax credit balance. Total ShareholdersÂ’ Return have increased by an annual compounded rate
of 27% for the past four years."
Query : The POOREST take the public transport, govt being the major shareholder has a responsiblity not to 'overhedge' so that no undue hardship is exerted on them. What has LTA come up with so far ?
http://www.comfortdelgro.com.sg/files/fin/areports/attachment/150.pdf -
Now then you know...
They own most of the tpt things here...
SBS, Comfort Bus, Comfort Cab, CityCab, Comfort Driving Ctr, ComfortDelgro Engineering (Bus assembler and vehicle maintenance), Vicom, Car Rental...
Of course on top of the buses and taxis in UK, Australia and China -
Waiting for someone to have his own bus/taxi license and use it to start his own Coop.
Why i wait?
Cause i no money. -
'Balance Sheets
Total shareholders funds increased by $96.3m to $1,441.3m as at 31 December 2006 from $1,345m as at 31 December 2005 with earnings for the year reduced by the payment of dividends.'
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Mr Chairman of PTC can u please take a look at this b4 approving the next round of hikes? -
How many PTC members who ultimately make the decision to raise prices upon request of the public transport companies actually take public transport on a daily basis?
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yeah.... and the answer is "the door is always open"...... if not happy, go look for another job lor......Originally posted by bigmouthjoe:LOL tell them you want to emulate the nation's leaders. By being compared to the first worlds bus drivers. We only want the best bus drivers!!!! -
To add insult to injury, they pride themselves and boast everywhere that they are profitable, but it is the citizens who are suffering.Originally posted by Atobe:Not so long ago, SMRT was complaining of high costs that makes their operation unprofitable, and applied for increase to fares charged.
Now that fares have been approved and their Q4 profit jumped by 80%, was the recently approved increases gving them a runaway profit ?
How will they explain this atrocious jump when they were complaining of unprofitable operations since the previous fare price increase ? -
And another insult to injury, the Circle Line will run in two stages (Dhoby Ghaut to Marymount in LATE 2010) and (Marymount to HarbourFront in 2011).
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Come June,
I'm suggest start to do group research on our transport companies.
So that we can collect our data and do two things.
1) when the local companies submit their need for MORE fares, we submit ours also to go against them.
2) We will do public(yes public as in open space) exhibitions showing OUR data to the people so that they can see the picture more clearly.
Call newspaper confirm get publicity one.
Anyone interested? -
i doubt they even have an ez link card.Originally posted by ditzy:How many PTC members who ultimately make the decision to raise prices upon request of the public transport companies actually take public transport on a daily basis? -
Anyone interested in my idea POSTED above and want to join me?
and They have EZlink cards - their kids have them to buy macdonalds -
Shareholders funds is now at a $1,441,300,000.00
"Group 2006 shareholders funds
Share capital 537.5 M
Other reserves (note a) 37.3 M
Accumulated profits 866.5 M
$ 1,441.3M " -
Maybe doing it in wp's name will help them score political points...I have that idea rite now...Originally posted by CM06:Come June,
I'm suggest start to do group research on our transport companies.
So that we can collect our data and do two things.
1) when the local companies submit their need for MORE fares, we submit ours also to go against them.
2) We will do public(yes public as in open space) exhibitions showing OUR data to the people so that they can see the picture more clearly.
Call newspaper confirm get publicity one.
Anyone interested? -
go ahead, since we discussed it abit already. You see what you can do. Keep me informed.
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Quote from today ST forum writter comments:"This is a recurring refrain which only suggests that cost cutting measures are not being looked into seriously enough.It seems to be a prelude to an impending application for fare hikes.
My opinion is,if they are going to use this hike to susidize their already lost money taxi business,it is highly unacceptable!
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Hike, hike.
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The worst being cut cost measures which could well meant reduction of bus routes and train trips
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Do we really have to use Merecdes, Volvo buses such luxurious brands ?Originally posted by sbst275:The worst being cut cost measures which could well meant reduction of bus routes and train trips
Old City Shuttle Bus Co used nissan diesel for many years, cost effective, efficient and low fares. If left along, with Trans Island Bus, probably Singapore could grown another big MNC ! -
Originally posted by qpicanto:
With such a huge Shareholders' Fund, the biggest beneficiary will be the Government owned Temasek Holdings, which has a 54.8% stake in the SMRT.
Shareholders funds is now at a $1,441,300,000.00
"Group 2006 shareholders funds
Share capital 537.5 M
Other reserves (note a) 37.3 M
Accumulated profits 866.5 M
$ 1,441.3M "
The huge returns that each of the GLC companies make - that total Billions annually - should have been returned to the Finance Ministry as part of the National Surplus, and should have been used to subsidise the operational costs of Government.
Sadly, the various Surplus from Funds invested into the various GLCs are retained within each GLC, and the final Grand Total will never be known.
The Grand Total should cover the surplus amounts that the Finance Ministry has transferred to Temasek Holdings and the GIC, and the profit amounts that each of their investments have made on the Surplus Funds transferred to their care.
Without any annual accounting, at every annual Parliament budget sitting this Government will claim higher operating costs, and insist on accumulating more funds from additional increases in GST, and fees charged for a wide array of essential services that the Government and its GLCs provide to all Singaporeans.
While costs to Singaporeans continue to climb, and with a stagnating wage earned that is continuously shrinking as a result of the cost increases, the Government is patting itself on its back for a job well done in picking the pockets of Singaporeans, and will give themselves a huge salary raise.
This is the kind of 'obscene arrogant behaviour of gangsters' that the Government aka the Ruling Party accused other Political Party of. -
1st thing 1st, so far only mainly Volvo and Scania are the regular suppliers for transit purpose double decks. So naturally, the bus co would get European supplier as they might get disc if they mass purchase vehicles with them for all models.Originally posted by qpicanto:Do we really have to use Merecdes, Volvo buses such luxurious brands ?
Old City Shuttle Bus Co used nissan diesel for many years, cost effective, efficient and low fares. If left along, with Trans Island Bus, probably Singapore could grown another big MNC !
Another reason probably was because for SBS's case, the Japanese manufacturers did not allow them to self assemble the buses to meet their requirement such as the upper deck counter for double decks.
As for Singapore Shuttle Bus (The operator of CSS, oh yes, today is the last day of operation), the Japanese buses they use are ok, only problem with them is the suspension -
i like my japanese bus.Originally posted by sbst275:1st thing 1st, so far only mainly Volvo and Scania are the regular suppliers for transit purpose double decks. So naturally, the bus co would get European supplier as they might get disc if they mass purchase vehicles with them for all models.
Another reason probably was because for SBS's case, the Japanese manufacturers did not allow them to self assemble the buses to meet their requirement such as the upper deck counter for double decks.
As for Singapore Shuttle Bus (The operator of CSS, oh yes, today is the last day of operation), the Japanese buses they use are ok, only problem with them is the suspension
less vibrations.
engine stops during idling.
no stairs.
bus tilts to left when passengers are alighting/getting off.
rear entrance, front exit.
200yen fixed fare.