Please clarify this...
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Wednesday April 28, 10:17 PM
SMRT reviewing fares after no hikes for two years
SINGAPORE: Rail operator SMRT says it is reviewing fares to cover higher costs and declining revenues.
It posted a 24 per cent jump in full-year earnings and its fourth quarter earnings trebled, but that's thanks largely to tax writebacks.
Any move to raise fares might prove controversial as unemployment in Singapore is still high.
SMRT also says it'll expand its taxi fleet to generate more sales.
Listed transport firms ComfortDelgro and SBS Transit have both assured commuters they won't raise fares.
But rival SMRT says it has not hiked fares for two years and that any increase will be prudent.
Any fare increase will need to be approved by the Public Transport Council (PTC).
Said SMRT president Saw Phaik Hwa: "We review our fares every year and we are still in the process of doing that. There's more than one reason. Fare increases are always justified on a basket of reasons. So it will be up to PTC to review the matter. Security is something up in the air but at this stage, it's difficult to comment."
That's because a high-level committee which is looking at ways to make the public transport system more secure, is expected to reach a decision only in a few months' time.
SMRT's latest profit may sound good but its revenue actually fell, hit by competition from the North East Line (NEL), SARS outbreak and the absorption of the increase in the Goods and Services Tax.
Besides reviewing MRT fares, the SMRT is also looking for new ways to boost sales, like adding 1,000 more taxis to its current fleet of 2,000 over the next 12 months.
It may also tap the market later this year for more funds to finance capital spending.
And although there's no move to take over the NEL for now, SMRT says it is always keen to expand.
As for the impact of the recent Nicoll Highway collapse, SMRT says it's still too early to comment.
It adds that any delay to complete the Circle Line project isn't likely to have a significant impact on its earnings. - CNA
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The bolded part, saying MRT fares will be raised.Please clarify it..Will Tibs fares be increased too? -
wah lau, increase fare again....
boycott MRT liao lah...
Must go buy bicycle liao
______________________________
sgboy2004, Anti Buaya Commander
Croco Corner
Croco Movie -
At this rate good old 2.40 might become cheaper than MRT one day.
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To cover the cost of the CCL?
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Yea, because it's an automated system. Their favourite excuse.Originally posted by BlessingSatan:To cover the cost of the CCL? -
Possible, but the circle is not even 1/4 completed yetOriginally posted by BlessingSatan:To cover the cost of the CCL? -
Possible, but the circle is not even 1/4 completed yet...Maybe the cost of changing the name of Tibs and also Repainting Tibs busesOriginally posted by BlessingSatan:To cover the cost of the CCL? -
That would be very LC!Originally posted by cck_190:Possible, but the circle is not even 1/4 completed yet...Maybe the cost of changing the name of Tibs and also Repainting Tibs buses -
Are u sure?Repainting ard 2000 taxis and 800 buses is not that cheap u know?...Originally posted by SBS9818A:That would be very LC! -
Are u sure?Repainting ard 2000 taxis and 800 buses is not that cheap u know?...They have to hire some people to assist in designing the new name and livery...I don't think it's a cheap thing to do.Originally posted by SBS9818A:That would be very LC!
btw, is SMRT raising bus fare, mrt fares or both fares?
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Repainting buses and taxis is no excuse for increasing fares! It should come out of their own pocket! SBST didn't raise fares when they introduced their new corporate identity, and they have 2500 buses!Originally posted by cck_190:Are u sure?Repainting ard 2000 taxis and 800 buses is not that cheap u know?...They have to hire some people to assist in designing the new name and livery...I don't think it's a cheap thing to do.
btw, is SMRT raising bus fare, mrt fares or both fares? -
I agreed with what Darryl said,Must have somethings about the CCL.Originally posted by SBS9818A:Repainting buses and taxis is no excuse for increasing fares! It should come out of their own pocket! SBST didn't raise fares when they introduced their new corporate identity, and they have 2500 buses! -
Most likely train fares will be brought on par with NEL fares.Originally posted by BlessingSatan:I agreed with what Darryl said,Must have somethings about the CCL. -
Hey, I was just giving a conclusion...don't sound so angry, it freaks me outOriginally posted by SBS9818A:Repainting buses and taxis is no excuse for increasing fares! It should come out of their own pocket! SBST didn't raise fares when they introduced their new corporate identity, and they have 2500 buses! -
I feels that he is not angry,Just his traits of replyingOriginally posted by cck_190:Hey, I was just giving a conclusion...don't sound so angry, it freaks me out
,Is'nt it Darryl? -
I read the newspapers early this year that SMRT may raise fares so that there is no difference in fares between NEL and other MRT lines (i.e. on par with NEL lines). It is unlikely that TIBS fares will rise because it will mean difference in fares between TIBS and SBS Transit. Usually these 2 companies will coordinate to raise fares together.
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Hmm if you're free go read up some business books... it'll help you broaden your knowledge on the usage of company funds and how they go about their operations.Originally posted by SBS9818A:Repainting buses and taxis is no excuse for increasing fares! It should come out of their own pocket! SBST didn't raise fares when they introduced their new corporate identity, and they have 2500 buses!
Well what are those corporate annual reports for? -
Sorry, I'm not going to be very free till late November.Originally posted by service_238:Hmm if you're free go read up some business books... it'll help you broaden your knowledge on the usage of company funds and how they go about their operations.
Well what are those corporate annual reports for? -
Train operator SMRT decides no fare hike this year
By Asha Popatlal, Channel NewsAsia
SINGAPORE: Train operator SMRT says it is not going to raise fares this year.
SMRT said this on Friday, the eve of the deadline to apply to the Public Transport Council for any fare hike.
There has been widespread speculation that Singapore's biggest train operator is heading that way.
Fares were last raised two years ago amidst much controversy and unhappiness.
ComfortDelgro and SBS Transit assured commuters early on they won't raise fares this year.
But as the May 1 deadline to apply for fare increases loomed, speculation was rife that SMRT might take a different track.
For SMRT, which hasn't raised fares for two years and which has been facing higher cost pressures due to SARS, GST absorption and the start of North East Line, the pressure has been to at least ask for something.
But after mulling over the figures and fares for two months, SMRT decided to back down from asking for any increase.
The reason: times are still tough.
"We've never come out to say that we are (raising fares). We are mindful of the fact that the economic situation is recovering but it is still uncertain in the near future and there are a lot of commuters who have hardships," said SMRT president Saw Phaik Hwa.
But were there other forces keeping fares at current levels?
"There are always pressures because nobody likes fare increases. We look forward to a time when there is a formula where increases are given in small steps, not painful and not a political situation," Ms Saw said. - CNA
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Courtesy channelnewsasia.com - Friday, April 30th 2004 -
Originally posted by Superbus:
after all no fare increase
[b]Train operator SMRT decides no fare hike this year
By Asha Popatlal, Channel NewsAsia
SINGAPORE: Train operator SMRT says it is not going to raise fares this year.
SMRT said this on Friday, the eve of the deadline to apply to the Public Transport Council for any fare hike.
There has been widespread speculation that Singapore's biggest train operator is heading that way.
Fares were last raised two years ago amidst much controversy and unhappiness.
ComfortDelgro and SBS Transit assured commuters early on they won't raise fares this year.
But as the May 1 deadline to apply for fare increases loomed, speculation was rife that SMRT might take a different track.
For SMRT, which hasn't raised fares for two years and which has been facing higher cost pressures due to SARS, GST absorption and the start of North East Line, the pressure has been to at least ask for something.
But after mulling over the figures and fares for two months, SMRT decided to back down from asking for any increase.
The reason: times are still tough.
"We've never come out to say that we are (raising fares). We are mindful of the fact that the economic situation is recovering but it is still uncertain in the near future and there are a lot of commuters who have hardships," said SMRT president Saw Phaik Hwa.
But were there other forces keeping fares at current levels?
"There are always pressures because nobody likes fare increases. We look forward to a time when there is a formula where increases are given in small steps, not painful and not a political situation," Ms Saw said. - CNA
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Courtesy channelnewsasia.com - Friday, April 30th 2004[/b]
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Originally posted by Superbus:
Thank god. At least they have some form of decency.
[b]Train operator SMRT decides no fare hike this year
By Asha Popatlal, Channel NewsAsia
SINGAPORE: Train operator SMRT says it is not going to raise fares this year.
SMRT said this on Friday, the eve of the deadline to apply to the Public Transport Council for any fare hike.
There has been widespread speculation that Singapore's biggest train operator is heading that way.
Fares were last raised two years ago amidst much controversy and unhappiness.
ComfortDelgro and SBS Transit assured commuters early on they won't raise fares this year.
But as the May 1 deadline to apply for fare increases loomed, speculation was rife that SMRT might take a different track.
For SMRT, which hasn't raised fares for two years and which has been facing higher cost pressures due to SARS, GST absorption and the start of North East Line, the pressure has been to at least ask for something.
But after mulling over the figures and fares for two months, SMRT decided to back down from asking for any increase.
The reason: times are still tough.
"We've never come out to say that we are (raising fares). We are mindful of the fact that the economic situation is recovering but it is still uncertain in the near future and there are a lot of commuters who have hardships," said SMRT president Saw Phaik Hwa.
But were there other forces keeping fares at current levels?
"There are always pressures because nobody likes fare increases. We look forward to a time when there is a formula where increases are given in small steps, not painful and not a political situation," Ms Saw said. - CNA
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Courtesy channelnewsasia.com - Friday, April 30th 2004[/b]