Punggol East By-Election coming ? MP steps down
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concern2:
And the answer is to create competition at ALL cost, even if it ruins both companies and drives service standards down?
My point is only when there is competition are we able to push ourselves to be better, to achieve excellence. Perfection? I suppose not. But definitely room for improvement. And it is hard to say if they can do better or not without means of comparison.3Boys:
Pretty demanding aren't you?
No, I don't demand 100% reliability, because it's a myth. We can always do better, but we should not ruin ourselves in seeking perfection. No country in the world does that and no industry in the world promises that.
Airlines are safe. Are they 100% safe? No. Does it mean we stop flying? SQ has has 2 fatal crashes in the last 20 years, you will never fly SQ?
It's easy to propose, less easy to understand the consequences of what one is proposing. -
concern2:
Good idea!!3Boys:
Since people think SMRT shareholders are having their pockets lined with public money, I wish the g'ment would buy 150 million shares of SMRT and just give 50 shares to each adult citizen. End of talk of nationalisation.
Well, they did with Singtel, didn't they? But after people sell them off, that's the end of the story. 
Hey, you know, RP mentioned that everyone should be given a share in Temasek Holding leh, what do you think?
Bad for governance, but hey, if it shuts people up....... -
3Boys:
I did the sums somewhere else before. Divided by ridership, equals something like $8+ per month per person that goes into 'profit'.
What record profits are you referring to? :scratchhead:Irrelevant:
[quote=\"toddles\"]
I think to most people, what rankles is fare increases in the face of record profits by the company year after year.
I've just checked SMRT's annual report. The relevant revenue and profit for the past 3 years are as follows:
FY2010
Revenue: 895.1m Profit: 162.9m
FY2011
Revenue: 969.7m Profit: 161.1m
FY2012
Revenue: 1,057.2m Profit: 119.9m
That's apparently a big deal for the majority.
Help the poor, certainly, but if you can afford, do your social responsibility by paying up and not demanding subsidies.[/quote]Hmm... divided by ridership... went to search, the figures I could find were on daily ridership in terms of passenger-trips. Does that mean if I take 25 trips a month, it's $200 of profit they make from me a month, or $2400 profit from one commuter a year? -
Way2GO:
yeah i was racking my brains on how to contextualise \"bu\". but now u say \"chiobu\".... Ahhh..... correct.
Picky aren't u? :nunchuk:toddles:
Urm, shouldn't that be KPKBor? Bu is mother, no?
in dis context, 'bu' cld be taken to mean d wifey lah
as when me say, \"my chiobu at home\"
most ppl wld not think me referring to my mother right?
Cos otherwise all that behind him talk, then image of mother... wah, disturbing. :siam: -
toddles:
NLB gets around 200 million a year from the govt to promote reading. How much do you think SMRT / Comfort Delgro will need? And how is the government going to fund that? More GST? :evil:
On the portion in purple, I think the NLB is an amazing example of an entity with great performance without profit motive.
Why can't the public transport system be similar? Why must excellence be driven by profit motive? -
Irrelevant:
Gahmen give $1.1 bn to SMRT/SBS transit - where does that come from?
NLB gets around 200 million a year from the govt to promote reading. How much do you think SMRT / Comfort Delgro will need? And how is the government going to fund that? More GST? :evil:toddles:
On the portion in purple, I think the NLB is an amazing example of an entity with great performance without profit motive.
Why can't the public transport system be similar? Why must excellence be driven by profit motive? -
Last time got DBS and posb, after one takes the other got less competition lah but my banking charges increase.
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toddles:
Hmm... divided by ridership... went to search, the figures I could find were on daily ridership in terms of passenger-trips. Does that mean if I take 25 trips a month, it's $200 of profit they make from me a month, or $2400 profit from one commuter a year?[/quote]2012 Annual report
I did the sums somewhere else before. Divided by ridership, equals something like $8+ per month per person that goes into 'profit'.3Boys:
[quote=\"Irrelevant\"]
What record profits are you referring to? :scratchhead:
I've just checked SMRT's annual report. The relevant revenue and profit for the past 3 years are as follows:
FY2010
Revenue: 895.1m Profit: 162.9m
FY2011
Revenue: 969.7m Profit: 161.1m
FY2012
Revenue: 1,057.2m Profit: 119.9m
That's apparently a big deal for the majority.
Help the poor, certainly, but if you can afford, do your social responsibility by paying up and not demanding subsidies.
http://www.smrt.com.sg/Portals/0/PDFs/About%20SMRT/Investor%20Relations/Annual%20Report/2012_SR.pdf
Train ridership = 654.4 Mn
EBIT attributable to trains = $91.0 Mn
Average profit per ride = 91/654.4 = 13.9 cents
Average profit at 20 rides a week (high?) = 13.9 cents x 20 x 4 weeks = $11.12 per month.
According to this, if you take 20 MRT trips a week, you are contributing $11 profit to SMRT per month. So I was off by $3 per month, sorry!
Put another way, if the g'ment now commits to take over SMRT operations and remove profit motive, then we would have returned to the public at large, $91m, or $26 per citizen, for 2012. :rahrah: :rahrah: :rahrah:
SMRT run by civil service :rahrah: :rahrah: :rahrah: ....... -
toddles:
I hire you to work for me for free, can? Or cost recovery model, I pay for your transport, lunch and dinner if OT. :evil:
On the portion in purple, I think the NLB is an amazing example of an entity with great performance without profit motive.
Why can't the public transport system be similar? Why must excellence be driven by profit motive? -
Wah! You guys went on and on without me. I was going to say something too. But I decided to go drink some liang teh instead... :celebrate:
I will let rip on Sunday, or may Saturday night. :nunchuk:
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