SMRT post $12m Q4 losses.. SMRTB Q4 loss stood at $12m
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Press release: http://www.smrt.com.sg/Portals/0/PDFs/About%20SMRT/Newsroom/2013/Media%20Release%204QFY13%20(30%20Apr).pdf SMRTB full year loss stood at $30.8m...
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Where did the money go ?
The MRT store is still open.
The only observation I made was during the last quarter the advertising panel is missing.
With the local company being useless when faced with some competition, the only tactics is to force the consumer to pay more for their incompetence.
Have their standard improved or maintenance improved ?
Especially the big red company.
Have they provided more value before they overcharge the consumer for the same content ??
Just like the same group of people who keep reminding us not to rely on them anymore but why should we bother to pay them millions if they are basically useless in providing any solution ???
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axe oil uncle... Last time.. made so much profit.. but 83% of it paid out as divd liao... Temasek's policy is to have unrealistically high divd payout... to make Temasek look good nia... kill their own GLCs only... it isn't SMRT... SATS is another one...
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SMRT says it may have to dispose off SMRTB if it keeps on making massive losses...
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My point is that it is a "false" sign.
There is always ways to create a negative situation to push for another objective.
Being the only one that provided one service, they will achieve their aim as the useless one are the one casting the votes and benefited from the eventual profit.
Please remember that the ridership have increased with the increasing population.
So, it is just a number game with the consumer being the one to pay more for less.
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Originally posted by Medicated Oil:
My point is that it is a "false" sign.
There is always ways to create a negative situation to push for another objective.
Being the only one that provided one service, they will achieve their aim as the useless one are the one casting the votes and benefited from the eventual profit.
Please remember that the ridership have increased with the increasing population.
So, it is just a number game with the consumer being the one to pay more for less.
Eh.. do you understand what happened after distance fare was implemented? Does not mean more people means more consumption.. That's why how come w/ so many shopping mall, more biz cashflow problem creep up.. instead of having more biz for everyone... and also, even bus co in HK are against competition one for one... Bus vs Mini bus is another issue... Simply because there'll be no scale... Ppl who never do business or this kind will never understand why scale is so impt... Much as ppl talk abt competition.. -
The press release also indicated SMRT's borrowing position... goodness... '... and the group will have to impair the bus business if the situation does not improve'...
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One mistake that they keep on repeating - Employing a farmer to do a plumber job.
Worse case scenerio - Farmer employing his former helpers to join.
In the end, more farmers who do not know the job and how do expect them to solve the problem.
Second mistake they keep a blind eye - Cost of maintenance.
Despite all the assurance, the rail was found with a crack recently.
If you want to save money for medical check-up, prepare to foot a huge bill to fix your cancer.
At this point, the cancer sign are coming up every week.
This is the basic issues that are affecting all ah kong companies.
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Bullshit,If not making money then why trial the A24 and got intention to trial 3 axles 340hp/1550nm DDs later??
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cbb.. cos that one is govt induced... llst... They alrdy saying... they may have to dispose Tibs bus... it's a black hole...
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They should just scrap the idea of the A24 and focus buying 200 units of E500 turbo..
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This is what happen when one big company have so many cronies waiting to be spoonfed by money everytime.
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SMRT's borrowing swelled to $609.5m... goodness...
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It is the same for the rest of ah kong company.
The retired farmer still spending money like it will never end.
It was a blank cheque for the previous farm where money have no limits.
They forget that they are supposed to save money for their new place.
But, they end up cutting cost on maintenance and spending it on fancy office chairs.
Any loss will be covered with increased charges passed down to the daft consumers.
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Divd payout so 'attractive'... dun want to keep the money for replacement needs.. Maintenance undercut... Say do proper preventive maintenance cost $1k... you wait till rosak, break down... the market rate for maintenance may be $6k... now end up SMRT crying for NSEWL to be financed using the new method before the current contract ends... Divd payout issue is created by Temasek Holdings... to make it look attractive.. and so ya... other ah gong company like SATS end up dun keep much funds for raining day...
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Right now SATS long serving employees also can't enjoy free air tickets effective from next year,Not to mention the stupid cut cost crap that didn't have big impact.Dog eat dog,The higher rank earn more the lower earn much less
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Time to sell the bus and taxi division of the company. May be that will be better. I think SBST will face the same problem soon if they start to run the DTLs.
I think the SMRT bus and taxi division should go to local a new PTE company JV not to SBST or other GLCs. Maybe woodsland transport and other pte company like transcab or other local transport companies that can bid for the taking over.
SMRT should run only trian services and train stations in singapore it should also take over SBST NE line trian service. Even the DTLs LTA should let SMRT run.
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No to PTE co especially those small fry.
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no scale... buy diesel all these no bargaining power...
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obviously someone didn't bother to figure out the DTL framework... it may seem to cost more to operator.. but it's sort of more stable and there's a clear defined line over maintenance matter...
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and anyway... Even if SMRT were to dispose off SMRTB... They shouldn't hope for good value from this disposal...
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I find most heartache at the fact that my fellow singkies just missed the point that local public transport (with the exception of the mature train lines) were never terribly profitable to start with.
For those who keep chest-banging and loudly proclaiming SMRT IS PROFITABLE, I suggest you should read the annual reports and revenue flows to understand where these money have been coming from.
Even CDG doesn't make much money from taxi, bus, train, LRT.
Cynism doesn't make one look smart. Quite the contrary in fact, and I will not apologise for this caustic view of mine.
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Still no excuse.
How come CDG can break even with 3000 buses with bulk purchases in recent years (really bulk purchase), but SMRT's 800-strong fleet can still come up with a staggering $30M loss?
If we look at the MAN purchases, it represents only a comparative 1/4 of the fleet. SBST has been far more aggressive in replacing ageing assets and still manages to break even on the whole.
Revenue figures in fact suggest that SMRT earns more money on per-bus basis than SBST so catchment isn't the issue as suggested many times! Its the cost....reading the annual reports will show this fact.
The biggest problem with SMRT is its inexplicable inability to look far ahead. And Desmond Kwek looks like all talk and little movement else.
About SMRT facing a "unsustainable future"? RUBBISH. We have a dual-operator situation precisely to set bench-marks against both operators as they "compete". It is clear which one is the laggard. Replace the tracks one time only = unsustainable?? Especially since the NSEWL have been raking in so much profits all these while? Where did these profits go???
http://www.todayonline.com/singapore/public-transport-business-models-not-sustainable
Now is the chance to try to correct the mistakesmade by SMRT and TIBS and today's SMRT will do well not to squander this chance lest LTA gets fed up and push it aside. Think not that the govt is not above doing shock measures when it has been embarassed enough.
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SMRT hints at further possible losses up ahead.
To give you guys a hint...
SMRT Trains is obliged to purchase the operating assets of the CCl on 4 May 2019, based on the net book value recorded in lTA’s audited accounts. These assets include trains, permanent way vehicles, power supply equipment and cabling, supervisory control system, escalators and lifts, platform screen doors, environmental control system, signalling system, communication system, automatic fare collection system and depot equipment.
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Ah 2601... 3 star also hint that CCL is not sustainable with current ridership n actual revenue... not surprising given the off peak ops
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Neither is svc 925, 172 then. Might as well withdraw these services and let the Home Team and Sungai Kadut people take taxi or walk or row sampan?
What is 3 star talking?
He should know what cross-subsidisation is for right?