SMRT Q4 profit plunges 59%
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Wow. How come there's this $21.7m impairment cost on buses? I thought fleet replacement is a routine cycle? Somemore ST report reported likely SMRT hopes for NSEWL to be placed under new train framework. So the retained earnings gone to where?
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Excl the impairment, SMRTB's losses is $11m. I think I noe see a dire situation for SMRT, they really have no money to pay for the replacement items within a short span...
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What is impairment cost????
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I feel 60% of profit plunge mostly from rail side.Breakdown claims,LRT breakdown,CCL haywire.Buses still make a bit profit.Bus replacement is compulsary.Dun tell me they wanna use their O405s till 2018?They need to invest at least another 550 WABs in 5 years time.Service like 67,106,169,172,176,180,187,188,189,190,851,854,858,911,960,963,966,969,971E all cashcow one..
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Bus recorded $11.6m of losses
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Now I realise why SMRT now say bo lui. Saw's period the divd payout was 80%, didn't keep much money.
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orh hor...........
so whose fault?
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a matter of accounting
wen to sweep the dirts under the carpet or hide the skeletons in the closet and wen to dispose them
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Impairment cost is something used in accounting terms..
but seriously, not really correct to be used on bus ops... fares are regulated and you need to have routine fleet replacement..
only item that's really having impairment impact is when bus svs are handed over
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They really cock big time.They didn't even realised their WAB fleets is not even reach 500 units mark?All they do is keep on refurbishing those O405s/O405Gs.I mean it's ardy 2012 why bother to spend refurbish those non WAB?They should focus more new buses for fleet addition or new svc since they have a new bus park?
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Originally posted by sbst275:
Bus recorded $11.6m of losses
they usually do this type of stunt do justify for fare hikes...and smlj is 80% divd payout ?1?!?!?
Saw already planning to leave back then issit?
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SPH squandered the money to keep young gigolos and buy properties
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Originally posted by ^Acid^ aka s|aO^eH~:
they usually do this type of stunt do justify for fare hikes...and smlj is 80% divd payout ?1?!?!?
Saw already planning to leave back then issit?
scary is even SBST's bus losses is $6m...But 1/2 I guess is because of the MRT Sunday check, I think the cost incurred..
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Originally posted by sbst275:
scary is even SBST's bus losses is $6m...But 1/2 I guess is because of the MRT Sunday check, I think the cost incurred..
she was trying to please the shareholders but now bakfired
perhaps she was tryin to get into politics
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Originally posted by carbikebus:
SPH squandered the money to keep young gigolos and buy properties
she need young gigolos to carry her ard...
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Hahaha
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Originally posted by carbikebus:
They really cock big time.They didn't even realised their WAB fleets is not even reach 500 units mark?All they do is keep on refurbishing those O405s/O405Gs.I mean it's ardy 2012 why bother to spend refurbish those non WAB?They should focus more new buses for fleet addition or new svc since they have a new bus park?
So SMRT should buy more Citaros and Citaro Gs!!!
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I think SBST's divd payout rate is abt 50%...
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Originally posted by sbst275:
I think SBST's divd payout rate is abt 50%...
80% or 50%???beri big difference wor >__>
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Acid mei mei. SBS is 50%, SMRT is 80%
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Shares of train operator SMRT Corp Ltd fell as much as 3 percent to a 29-month low, after it posted a sharp fall in quarterly earnings and reduced its final dividend, prompting several brokers to cut their ratings on the stock.
SMRT reported on Monday a 59 percent drop in fourth quarter net profit to S$13.9 million ($11.2 million), and declared a reduced final dividend of 5.70 Singapore cents compared with 6.75 cents a year ago.
SMRT shares fell 1.8 percent to S$1.65 with more than 1.1 million shares changing hands in early trade, compared to its average daily volume of 3.2 million shares over the last five sessions.
CIMB Research cut its target price for SMRT to S$1.50 from S$1.55 and maintained its underperform rating, citing higher operating expenses and a cut in dividend.
"Plagued by margin erosion and cash flow strains, we see no reason to own this stock. Further, dividend yields are no longer attractive," said CIMB in a report.
The broker added that SMRT's plans for asset renewal will result in higher capital expenditure, while mandates for more stringent repairs and maintenance will elevate its cost structure permanently, eating into profits.
JPMorgan downgraded SMRT to neutral from overweight and cut its target price to S$1.60 from S$2.00.
OCBC Investment Research also downgraded SMRT to hold from buy and lowered its target price to S$1.71 from S$2.04, citing weaker-than-expected earnings for 2012.
It estimated that SMRT's capital expenditure in 2013 will rise to S$500 million due to higher expenses needed for upgrading its assets.
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now got another article on CNA
Wow... Analyst thinking LTA would allow SMRT to convert NSEWL's contract to DTL style.. Like this NEL & CCL also want leh...
Esp CCL, cos ridership very bad
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That's the outcome of being arrogant, irresponsible and greedy. I must say it really deserve this kind of outcome till this point. Hope that the company will be de-listed from the exchange soon.Originally posted by sbst275:
now got another article on CNA
Wow... Analyst thinking LTA would allow SMRT to convert NSEWL's contract to DTL style.. Like this NEL & CCL also want leh...
Esp CCL, cos ridership very bad
Let them take all the rail they want. Hand over their bus and cab operations to SBST and Transcab. -
I dun think LTA will allow... It'll set precedent esp in e case of CCL's ridership I dun think is going to improve any further within 3 or 4 yrs...
Who still remember SPH's saying abt she dun even want to operate NEL even if it's given for free or sort???
Now CCL how?
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Last time, cut here and cut there.
No repair and no maintenance.
Earn profit and shareholders happy.
Now, make a blunder.
Immediately show hand and tell people that they need money to pay for repair and maintenance.
How shameless can they be ?