Yay, transport fares will go up again next year! :D
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Higher Oil Prices will inevitably lead to higher operating cost for SMRT. As such, SMRT is likely to apply to the PTC again next month for permission to increase transport fares to offset the increase in diesel prices.
Good news for SMRT shareholders!
Edit: As expected
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SINGAPORE: Both SBS Transit and SMRT have applied to the Public Transport Council to raise bus and train fares.
The exact fare increment will be determined later, using a standard formula, in this annual fare revision exercise.
Energy costs have been a big drain on the two big public transport operators.
Both companies have quoted rises of between 20 and 26 percent in this area alone.
SBS Transit said manpower costs – its single largest cost component – have also increased by about S$12 million during the year, while SMRT said it would lose about S$11 million due to increases in GST and employer's CPF contributions.
In making their applications to the Public Transport Council, both companies said they would not touch concession fares.
SMRT added that it would be asking for small increases in EZ-Link fares for buses, adult train EZ-link fares and longer single-trip train journeys.
This year's increment formula, which is linked to the performance of Singapore's economy, is capped at 1.8 percent, slightly higher than last year's 1.7 percent.
The formula was devised to ensure that there are small and regular increases, instead of big jumps every few years.
Both transport operators said they are mindful of how fare increases affect the lower income, so they would be considering funding schemes to offset the impact on any hike.
Separately, the government has announced that S$10 million has been set aside over three years to help the needy cope with fare increases.
The fare changes, if accepted by the Public Transport Council, will be announced next month and will kick in by October.
- CNA/so -
Yay. A bigger hole in my pocket. Time to get new pants.
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yeah! time to migrate!
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Yay! I am enlisiting soon!
Cheers.
CK -
i everyday got o sch take bus 243 ...then from boon lay take till serangoon ... die liao .... mon to friday !!!!!!!!!!!! sian !!!!!!!!!!!!
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ConcessionOriginally posted by bengan35:i everyday got o sch take bus 243 ...then from boon lay take till serangoon ... die liao .... mon to friday !!!!!!!!!!!! sian !!!!!!!!!!!! -
yay ! me too , i still waiting for enlistment nowOriginally posted by CKeer:Yay! I am enlisiting soon!
Cheers.
CK -
Give you a chance to earn more revenue, who don't wanna take?
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yay the first 3 posters went nuts yay!
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YAY i still 45 cents YAY
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heng going to enlist sia
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yay! can start eating sand liao
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YAY!! Im lovin it!!
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Originally posted by Keii:Yay. A bigger hole in my pocket. Time to get new pants.
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yay! going to enlist in a few months time!!
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remember this stupid study that they are currently doing with the Australian consulting firm ? When the results come out, they will have some justifications to increase fares citing reasons ranging from increase oil prices to neccessity to implement various consumer benefiting measures.
Its just like the gahmen telling you - we need to raise GST to help the poor. Duh.... -
let's buy a car
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yay! for no reason
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u sound like your going for a tour around singapore everydayOriginally posted by bengan35:i everyday got o sch take bus 243 ...then from boon lay take till serangoon ... die liao .... mon to friday !!!!!!!!!!!! sian !!!!!!!!!!!!
BOON LAY TO SR
what kind of monster sch is that -
Zzzzzzzzz.........
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want to increase just increase la.
apply what permission for what? wayang man... -
taxi fare got up or not ?
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YAY!!!
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i can finally lose weight..
i'm gg to walk frm yishun to everywhere else frm now on -
Originally posted by shade343:Higher Oil Prices will inevitably lead to higher operating cost for SMRT. As such, SMRT is likely to apply to the PTC again next month for permission to increase transport fares to offset the increase in diesel prices.
Good news for SMRT shareholders! 
Alrdy earning more money... Poor maintenance of buses as you could see SMRT bendy buses up into fire, MRT freq @ 10 mins even at 4:30pm on weekdays
And you will be glad that they tied up w/ Citibank
Anyway the main shareholder is TH, w/ 61% stake. So most of the divd would go to the govt and not you