Public Transport Fare Increases? Oil $150 then, now $100
-
damn it!
-
transport coupons or vouchers to help the needy absorb the transport cost increase, is only for this year.. the price increase is usually permanent.
Against increased car population, public buses spent more time caught in jams and incur more fuel costs. ERP rates are increased, public buses also incur more costs. The decision to release more COEs and allow the car population to grow excessively in recent years, was a very bad decision. Carparks are now in serious shortage. Land is not not used efficiently. Now, users of public transport must partially bear the costs of private car users.
I am definitely pissed.
-
Originally posted by maurizio13:
Makes no sense right, their reason for increase then was high oil price, but now oil dropped $50 to $100 per barrel. Still they want to increase to help the poor people.
Well, during the time when oil was $150, we were still enjoying subsidized fares, so now must increase to recoup the loss they suffer what. But Im dissapointed that SMRT does not know how to make use of the futures market to hedge against future increase in oil prices... -
soon we will all see bus running on taxi meter
-
everything expensive..
Govt recommend us to take Public Transport & wtf? they increase the fare?!
fcuk fcuk fcuk!!
-
Originally posted by shade343:
Well, during the time when oil was $150, we were still enjoying subsidized fares, so now must increase to recoup the loss they suffer what. But Im dissapointed that SMRT does not know how to make use of the futures market to hedge against future increase in oil prices...
please take note..SMRT got alot of business..
Buses,Trains,Taxis and even SMRT Exchange! (dhoby ghaut,tanjung pagar, Raffles, CCK exchange)
they don loss anything..
and please take note.. More people take Trains now..
-
Originally posted by whiskers:
Look at todays CNA news... Look at its title "Commuters generally welcome bus, train fare changes" WTF...Of course, this coming from a reputable news agency in Singapore, you will expect them to substantiate how they derived at this conclusion, but they didnt.
THis is really strange because, either many of the people who are unahppy are not commuters, or CNA have some really wrong method of sampling.
THis is singapore, I remember sometime ago, some people say that in this island of his, he can travel from east to west in 20mins? yes since this island so small who the hell needs a transfer?
Guys if u dun tink this is blatant propaganda, I dunno what is.Anything is possible from CNA (controlled by Pay and Pay). For the GST hike last year, CNA said that no retailers and shoppers are affected by the hike. This is a lie.
CNA will say anything just for propaganda.
-
Ok, i don't mean to be like against you guys or anything but i have to comment.
The starter of this thread is clearly wrong in saying that oil has dropped. The last fare increase, in 2007, oil was ard 70-80 dlrs a barrel. So, price of fuel has increased.
Second, the PTC does not always give in to the transport operators. Take note that in the last fare increase, the PTC disallowed SMRT from raising train fares though it had applied for it, and allowed a minimal increase for the bus fares.
Of course, i do feel it is ridiculous that fares are increased at such hard times for many, with the govt calling it "necessary for long-term sustainability". Crap. There was a time when transport fares remain stagnated for 5-8 years, and feeder services cost only 40 cents.
-
Even worst you have to wait very long for the next transfer, crowded buses or trains, smell other foreigners BO.
-
they increase ERP, increase Public transport
PAP is starting a new bicycle company isit?
-
Originally posted by Fantagf:
Anything is possible from CNA (controlled by Pay and Pay). For the GST hike last year, CNA said that no retailers and shoppers are affected by the hike. This is a lie.
CNA will say anything just for propaganda.
I think the only way to find out if reporters or writers write propaganda is to quizz them on 'live' national tv with detectors.I am sure they very integrity and never lie in their whole live. that they serve the public honestly and not biased to any political party as they are not linked in anyway to partys ? As they never get any lobang or perks from them ?
Of course, u believe me right? ? ???? ??????? ??????????
-
Don't see the logic of tranfering bus when can take one and reach. What transfer rebate, like that'll help. Gahman want to help low/no income groups, at least keep public transport fares cheap, don't treat us like kids say transfer rebates go down. I would think cash-strapped ppl would rather take a cheap long bus then change here and there and end up paying more. Stupid la..
-
Originally posted by wysg:
Don't see the logic of tranfering bus when can take one and reach. What transfer rebate, like that'll help. Gahman want to help low/no income groups, at least keep public transport fares cheap, don't treat us like kids say transfer rebates go down. I would think cash-strapped ppl would rather take a cheap long bus then change here and there and end up paying more. Stupid la..
most take feeder bus to interchange, then change bus or mrt.. -
Originally posted by simnatic:
Ok, i don't mean to be like against you guys or anything but i have to comment.
The starter of this thread is clearly wrong in saying that oil has dropped. The last fare increase, in 2007, oil was ard 70-80 dlrs a barrel. So, price of fuel has increased.
Second, the PTC does not always give in to the transport operators. Take note that in the last fare increase, the PTC disallowed SMRT from raising train fares though it had applied for it, and allowed a minimal increase for the bus fares.
Of course, i do feel it is ridiculous that fares are increased at such hard times for many, with the govt calling it "necessary for long-term sustainability". Crap. There was a time when transport fares remain stagnated for 5-8 years, and feeder services cost only 40 cents.
Very reasonable argument!
Anyway, it is hard to trust the neutrality of PTC as there is no transparency on its members.
-
Originally posted by Ajen:
please take note..SMRT got alot of business..
Buses,Trains,Taxis and even SMRT Exchange! (dhoby ghaut,tanjung pagar, Raffles, CCK exchange)
they don loss anything..
and please take note.. More people take Trains now..
PLease also take note that the approved formula to caluculate the fare increase contains a component which is linked to the productivity gains of SMRT. Any increase in productivity gains(Such as advertising or rental of SMRT premises to tenants) by SMRT will be factored into the formula to reduce the quantum of the fare hike.Even if more people take trains, the increasing revenue leads to lower profit margins for SMRT as they have to increase the number of train trips and maintenance schedules to clean and maintain the trains. This leads to higher operating expense and erodes profit margins
You are right to say they are not losing money but keep in mind that SMRT is a PUBLIC company. They cannot and should not suffer losses or operate as a charity as at the end of the day, it has a duty to deliver higher returns to its shareholders. Although they are obliged to hit a certain benchmark for increasing productivity gains, there is a limit to what they can do to help defray the rising cost of raw materials.
-
Originally posted by simnatic:
Of course, i do feel it is ridiculous that fares are increased at such hard times for many, with the govt calling it "necessary for long-term sustainability". Crap. There was a time when transport fares remain stagnated for 5-8 years, and feeder services cost only 40 cents.
whats long term sustainability when we are having difficulty on sustaining short term? -
Originally posted by simnatic:
Ok, i don't mean to be like against you guys or anything but i have to comment.
The starter of this thread is clearly wrong in saying that oil has dropped. The last fare increase, in 2007, oil was ard 70-80 dlrs a barrel. So, price of fuel has increased.
Second, the PTC does not always give in to the transport operators. Take note that in the last fare increase, the PTC disallowed SMRT from raising train fares though it had applied for it, and allowed a minimal increase for the bus fares.
Of course, i do feel it is ridiculous that fares are increased at such hard times for many, with the govt calling it "necessary for long-term sustainability". Crap. There was a time when transport fares remain stagnated for 5-8 years, and feeder services cost only 40 cents.
The correlation is NO longer there between fare hikes and oil prices as in the 2007 hike, oil prices went down after the Lebanon war to around $80 and lower. the reason given by PTC : "There is no extenuating reason NOT to increase."
When oil is up they capitalise on it .
The fares has NEVER never been reduced before unlike petrol, irregardless of oil prices, cheaper wages of foreign drivers, CUT in CPF wages ,market domination and huge reserves.
-
This annual ritual increase of fares is getting out of hand and has reached the threshold of pain for many.
The PTC is too weak to take on the GLC transport ??
Prices has to be regulated since there is no real competition.
-
...maybe this time the increase is to cover the old dying despot's hospitalisation costs... singaporeans know it is better to die than to fall sick, unless you can take public money for the exorbitant hospital bills....
...is it any wonder the despots don't care how much hospitalisation costs when they can dip their hands into public money?
-
Originally posted by shade343:
Well, during the time when oil was $150, we were still enjoying subsidized fares, so now must increase to recoup the loss they suffer what. But Im dissapointed that SMRT does not know how to make use of the futures market to hedge against future increase in oil prices...Originally posted by simnatic:Ok, i don't mean to be like against you guys or anything but i have to comment.
The starter of this thread is clearly wrong in saying that oil has dropped. The last fare increase, in 2007, oil was ard 70-80 dlrs a barrel. So, price of fuel has increased.
Second, the PTC does not always give in to the transport operators. Take note that in the last fare increase, the PTC disallowed SMRT from raising train fares though it had applied for it, and allowed a minimal increase for the bus fares.
Of course, i do feel it is ridiculous that fares are increased at such hard times for many, with the govt calling it "necessary for long-term sustainability". Crap. There was a time when transport fares remain stagnated for 5-8 years, and feeder services cost only 40 cents.
Originally posted by shade343:
PLease also take note that the approved formula to caluculate the fare increase contains a component which is linked to the productivity gains of SMRT. Any increase in productivity gains(Such as advertising or rental of SMRT premises to tenants) by SMRT will be factored into the formula to reduce the quantum of the fare hike.Even if more people take trains, the increasing revenue leads to lower profit margins for SMRT as they have to increase the number of train trips and maintenance schedules to clean and maintain the trains. This leads to higher operating expense and erodes profit margins
You are right to say they are not losing money but keep in mind that SMRT is a PUBLIC company. They cannot and should not suffer losses or operate as a charity as at the end of the day, it has a duty to deliver higher returns to its shareholders. Although they are obliged to hit a certain benchmark for increasing productivity gains, there is a limit to what they can do to help defray the rising cost of raw materials.
Losses they suffered? Are you sure it's losses or supernormal profits? SMRT had a Return on Equity** (ROE) of 22.1% for Financial Year 2007, while Hong Kong's MTR had a Return on Equity of 10.2% for Financial Year 2007. If you want to talk about investment risk (beta) for this stable industry, what is the appropriate return? Another comparable MTR is operating in the region of 10.2%, while SMRT is operating at more than 2 times the returns for this industry every year. Doesn't it prove to you that the government is exploiting us?**Return on Equity (ROE, Return on average common equity, return on net worth) measures the rate of return on the ownership interest (shareholders' equity) of the common stock owners. ROE is viewed as one of the most important financial ratios.
http://en.wikipedia.org/wiki/Return_on_equity
http://www.mtr.com.hk/eng/investrelation/financialinfo.php
http://www.smrt.com.sg/investors/annual_reports.asp
Obviously you do not understand the meaning of the term productivity gains.
"Productivity in economics refers to measures of output from production processes, per unit of input."
http://en.wikipedia.org/wiki/Productivity
What you describe here is law of dimishing returns, not productivity gains. How can one say that the maintenance schedule has increased per km travelled, yet claim that as a productivity gain? If you operated the trains at 10,000 km per maintenance schedule, subsequently it dropped to 5,000 km per maintenance schedule, it is a productivity loss.
When compared to MTR (HK), SMRT (SG) not only make profits, they made extremely supernormal profits, twice the industry average for ROE. The sad thing is, some Singaporeans are still hoodwinked into thinking that the government has been fair in it's dealings with the Singaporean public.
-
Those bloody assholes PAP sh1t only know how to increase transport fees,but dont know how to lower it.As if a person only know how to walk forward,but dont know how to stop or step backward a few steps when encounter danger or met some special situation.
Sometimes i really wonder,do those PAP leaders have any feeling?Are they human?Do they have any sympathy?
-
I have the experience of out of job before,and when i take MRT n buses to find new job,usually one trip cost around $1.33,2 or 3 trips cost $2-$3.And usually i top up my link card for $30.I can tell you ppl,the money in my link card "drain" like hell.with 1 week or so,its near empty.
I heard that Taiwan public transport only cost around S$0.60 per trip.Actually last time,before the link card impost,the previous card(not link card) i used can last quite long,coz when i take buses,i can cheat abit by pressing $0.60 trip.Now,totally cannot cheat,and those Fuking Blood Sucking PAP Gay leaders keep on increasing MRT n bus fare,What the hell they want from us???
They lost money in foreign investment is becoz they are stupid,why Tax us so heavily to compensate their stupidity????
-
Originally posted by whiskers:
Look at todays CNA news... Look at its title "Commuters generally welcome bus, train fare changes" WTF...Of course, this coming from a reputable news agency in Singapore, you will expect them to substantiate how they derived at this conclusion, but they didnt.
THis is really strange because, either many of the people who are unahppy are not commuters, or CNA have some really wrong method of sampling.
THis is singapore, I remember sometime ago, some people say that in this island of his, he can travel from east to west in 20mins? yes since this island so small who the hell needs a transfer?
Guys if u dun tink this is blatant propaganda, I dunno what is.
Commuters love fare increases.Really.
-
The growth dividends are give out on that day. It all planned. Before the growth dividends give out. Last year or before that.
-
technically speaking, with the increase of `ridership' (sorry, dun know what is the term to use), the ticket price should come down. now, we squeeze and squeeze like hell...
now oil price has also come down (alot), this is just baffling.
sometimes i get withdrawal symtoms when i am a sardine in a small tin can (in the train)...."why did i sell my car so soon? arggh.....".