SMRT's 1st overseas venture 'failed'

• sbst275

  24 Jan 09, 18:14

  Remembered tat time e talk of investing in Shenzhen? Yes, it is not going to go through after all. It's on Straits Times together w/ e finanical report.

  Anyway, SMRTB is still making losses

• eX.A.K.R.

  24 Jan 09, 22:45

  They will continue bleeding money until they take a step back and realise that they are doing and pirortising everything wrong in their blinded drive for profits.

• TIB1062Y

  24 Jan 09, 23:57

  Keep it up! 

• sbst275

  24 Jan 09, 23:58

  SMRTB's losses exceeds SMRT Taxi

  $5.3m for 9 mths liao

• TIB1062Y

  25 Jan 09, 00:21

  Good... Next time after I have learnt about investment, I won't even bother to think of buying shares for SMRT...

• QX179R

  25 Jan 09, 00:22

  another excuse for fare increase in future..

• SBS7484P

  25 Jan 09, 00:24

  its always the same excuse of "need to cover running costs"..

• TIB1062Y

  25 Jan 09, 00:44

  Bus fare is inversely proportionate to service level that is brought to commuters.
  (meaning service level decrease despite of the increasing bus fares every single time).

  Everyone agree with this formula? 

• lemon1974

  25 Jan 09, 01:42

  but if u look at their profit and their dividend policy, SMRT share is worth buying.. best is that they get rid of the bus division..
• service_238

  25 Jan 09, 02:03

  Originally posted by lemon1974:

  but if u look at their profit and their dividend policy, SMRT share is worth buying.. best is that they get rid of the bus division..

  
  second that statement. best if sbst absorbs them. lolz..

• service_238

  25 Jan 09, 02:05

  Originally posted by TIB1062Y:

  Bus fare is inversely proportionate to service level that is brought to commuters.
  (meaning service level decrease despite of the increasing bus fares every single time).

  Everyone agree with this formula? 

  
  Its more like the population increase faster than smrt is able to have the provision of buses for them. Please look at things from the macro point of view and not just pin pointing faults and nail them down without getting much result.

• iveco

  25 Jan 09, 03:00

  Originally posted by lemon1974:

  but if u look at their profit and their dividend policy, SMRT share is worth buying.. best is that they get rid of the bus division..

  
  Spin it off back as Tibs Holdings and bring back Ng Ser Miang. Alternatively, look for overseas buyer with experience in bus ops.

   

  Next step, consolidate all subway lines under 1 operator for economies of scale.

• ngjy22

  25 Jan 09, 03:14

  They could've earned more, at least sv190 and 966 have more buses. Or jus 966A plying just from Bt Panjang to Marine Parade in the AM Peak. The every 1 pax they left at the bus stop = the every (at least) 71¢ lost. Who knows if they switch transport mode to SBST sv or even non-SMRT taxi.

• sbst275

  25 Jan 09, 07:34

  wonder when would they finally get into overseas

  as for Sv 190, I think it's very possible they've lost potential revenue

• TIB1062Y

  25 Jan 09, 12:27

  Originally posted by sbst275:

   

  as for Sv 190, I think it's very possible they've lost potential revenue

  They will gain back the revenue when the commuters are "forced" to take NR3.. 

• sbst275

  25 Jan 09, 12:28

  Originally posted by TIB1062Y:

  They will gain back the revenue when the commuters are "forced" to take NR3.. 

  
  oh yeah, SMRT only tio summon 10% of wat SBS tio also

• eX.A.K.R.

  25 Jan 09, 12:34

  Originally posted by SBS7484P:

  its always the same excuse of "need to cover running costs"..

  Running costs = losses from failed investments  .

• eX.A.K.R.

  25 Jan 09, 12:35

  Originally posted by TIB1062Y:

  Bus fare is inversely proportionate to service level that is brought to commuters.
  (meaning service level decrease despite of the increasing bus fares every single time).

  Everyone agree with this formula? 

  Agree!

• gorby107

  25 Jan 09, 12:37

  Time to revamp the management board?

• eX.A.K.R.

  25 Jan 09, 12:56

  Originally posted by gorby107:

  Time to revamp the management board?

  FIRE THEM ALL.

   

• Y_Shun

  25 Jan 09, 13:08

  but so is SBS Bus still losing money? or its NEL that is losing money?

• n4l

  25 Jan 09, 13:13

  Originally posted by Y_Shun:

  but so is SBS Bus still losing money? or its NEL that is losing money?

  annual statement not out yet, theirs should be in feb. the third quarter statements are out, but from a quick scan, they don't break it down into divisions like smrt does.

   

  actually i wonder what happens if SBST claims losses for the buses division...maybe it'll  shut the trap of people here flaming SMRT.

  If you're so smart, run the company.

   

   

  edit: found it, they actually mentioned it in q3 statement. q3 ends in 12nov 2008 and not in 2009.

  $3.0 mil profit for bus -profit dropped as compared to q307 despite ridership increases due to fuel, but offset by price hike.

  $2.2 mil profit for train - could hv been better if the electricity bills were not so high

   

  http://www.sbstransit.com.sg/generalinfo/results.aspx?year=2008

• sbst275

  25 Jan 09, 13:31

  Originally posted by Y_Shun:

  but so is SBS Bus still losing money? or its NEL that is losing money?

  
  SBS is made profit in Q3 08 (SMRT's Q2 09) vs SMRTB's losses

  If did not remember wrongly SBST made $900k in bus ops while SMRTB made $1.2m loss

  NEL is making $$ as well