Unfair for MRT commuters to bear the costs of upgrading when shareholders have profited during Saw’s time

Yesterday (13 Feb), Transport Minister Khaw Boon Wan said that SMRT’s operating costs were significantly higher than its fare income for the financial year ending March 2018.

Many netizens saw this as an opportunistic way to increase fares. After all, that is what they have been doing for years: talking about how increasing costs must lead to increased fares.

Indeed, what he has failed to mention is that during the period where Saw Phaik Hwa was SMRT CEO from 2002 to 2012, maintenance regime became a back burner under her leadership.

Cable ties were used to secure rail claws. Maintenance budget went down as much as 20% despite rising ridership and more frequent train runs.

SMRT cut corners in its maintenance regime and posted millions of dollars in profits. The bulk of the profits went to stakeholders in terms of dividends, bonuses, profit-sharing for top management etc.

Now that its operating and maintenance cost more to improve its reliability, it should draw back on its reserve to subsidize its own neglect on these areas years back.

Commuters and tax payers should not be made the scapegoat to pay for these cost increases at the first instance.

 

Osman Bin Sulaiman

 

 

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24 Responses to “Unfair for MRT commuters to bear the costs of upgrading when shareholders have profited during Saw’s time”

  • VTO for F*uck Ups:

    Paid for their previous signalling F*uck Ups or actual operating costs?

    Account in their hands, now holding CTzens to ransom and suck you dry.

    Wonder why nowadays I don’t trust what the ministers say…guess I have lost the respect for them. In many cases, they only speak for their Party, not for People.

    Others can do much Better jobs than them, many times over.

    Can’t think for yourselves then think for your child. VTO.

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  • deteriorated lower base:

    aiyoh. white idiots said got improvement leh and now must look at financials (wink wink means price lar ?). what improvement ? like going down the hill and then start from the foot of the hill and then reach halfway, then tell you got improvement. liddat also can say it unashamedly.

    of course, got improvement lar and that’s improvement from a deteriorated lower base lar.

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  • No Dafts or Dogs Allowed:

    But take comfort. Every time MRT cock-up, you know at least 7 out of 10 commuters in that carriage, voted for it. So let them start walking from foot of hill also.

    deteriorated lower base:
    aiyoh. white idiots said got improvement leh and now must look at financials (wink wink means price lar ?). what improvement ? like going down the hill and then start from the foot of the hill and then reach halfway, then tell you got improvement. liddat also can say it unashamedly.

    of course, got improvement lar and that’s improvement from a deteriorated lower base lar.

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  • The Hint:

    29th december 2017 oredy 1 hike…how many more?
    Every year 1 or 2 hikes.
    If u all had enough , do the needful at the polls..
    Capish?

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  • The Hint:

    CORRECTION:
    shd be 29th december 2018.

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  • Pay Auntil Pok:

    Same old, same old. First come up with who knows real or fake survey to self-praise their own service. Next comes announcement about their high operating cost. Last but not least, INCREASE FARE!

    Bingo! Same old trick and it worked all the time, thanks to all the daft people who kept voting for them.

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  • Bapak:

    Hyflux is another big white elephant coming up. Many will lose their CPF money.

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  • LIONS:

    Always making ORDINARY CITIZENS bear SOCIAL COSTS FOR GOVT’S SQUANDERING on obstentatious like F1,GARDENS BY THE BAY(whats that?),EXPENSIVE GOVT PENSIONS(so that enriched elitists can continue to enjoy gourmet cooking holidays,etc),FT-$cholarSHIT n others like a MAUSOLEUM for LKY who even questioned his grassLOOTers about cheap tentages???

    Take things like SINGAPORE POOLS.
    HONGBAO SPECIAL.
    ONLY $12 MILLION?
    HOW MUCH TAKING$ which is effectively the POOLING OF COMMON SGS’ MONEY to see who get the FORTUNE of winning the COMMON POOL?

    SING POOL SHUD BE RUN BY PRIVATE AS OPERATOR N HOVT AS REGULATOR N NOT OWNSELF REGULATE OWNSELF LIKE NOW!

    It has been reported OFFICIALLY that Sing Pool got a few hundred millions of unclaimed winnings?

    Is that really so?
    Ir,ownself make ownself *WIN* N THEN DUMP UNDER UNCLAIMED WINNINGS for more legitimacy?

    Well?
    No transparency,ZERO ACCOUNTABILITY.

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  • Strange SIN politics:

    Singapore is increasing adopt a fast face change politic where economic gain n humongous profit r results of expeniture higher than income as evidenced by public transport, utilities n services outsource to companies which seems to have its board position r reward items for the points reward based polanpa membership. National is making big economic gain but citizenry were punished instead with increased taces, tariffs, fares n fees including continal increase in education fees esp for tertiary institutions which seems to have foreign students on generous scholarship so sufficient to support the foreign scholars’ family with standard of living above the average family in their homeland n interesting enough able to provide these scholars to venture on making a fortune towards that of Govt ministers which have become their ambitions as they arrogantly flaunt in front of their local classmate that the citizens r stupid having to pay increasing fees to support them on a superior status.
    Another strange thing happens after opening the electoral role with strange redrawing of constituency boundary which as PG kapitiam uncles n aunties said they have changed constituency seemingly at 80% of GEs n again this time for GE Sept 2019 from their inside contacts.
    But one thing is not strange. Singapore is having gains from all fronts. Some oldies said to expect little poison carrots with potency to last to the poll booth n then u drop dead with increase in everything even pimps n prostitutes. Foreign colleagues hoped that pimps n prostitutes do not have to issue receipt for patronizing as it would increase like doctors charges till they have no affordable fuxxing avenues left. Again the all round reports seem to benefit the political mmultimillion billionaires but to 99% Singaporeans it becomes a curse n sign of escalating costs of living n fast declining standard of living. What the hell seemed to be in the minds of these daft Singaporeans esp the volunteerism which the PAP promotes when they boasted that tpbecos of them the state fund is significantly increased that they have so much to feed the system incl plps n still have excess to glorify themselves internationally with billions to gain keys n praise. As a professor tells his SIN scholars n students just 3 words everytime he read abt this in the cyber media. “evil,stupid, scumbags” as he has been in Singapore several times n each time he returned with fouler language which he/she would takes months to wipeoff whenever SIN was mentioned. Intention of self glorification looked upon as stupidity in the extreme or in their favorite wors scums n idiotic citizens!l

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  • Hank Lee:

    Absolutely agree with the writer! This govt treat all of us like fools when in actual fact only 69.9% are. I hope the percentage will drop. Those who remain fools during the next GE will be hopeless case fools

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  • I'm Halimah also jiak liao bee:

    what is their profit for the past few years, and why do tax payers have to bear the cost of all these when the management have been rewarding themselves with their fat dividends and bonuses.
    That Cleopatra Saw should be asked to return all those $$$ she was paid to cover all those screw ups during her watch.

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  • HarderTruths:

    Hahaha

    More pain for stupid $inkies.

    Love it.

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  • opposition dude:

    PAP will continue to raise the transport fare for as long as they are in power, you know it and everyone else knows it.

    You want to put a stop to this nonsense then you better bloody vote opposition in this year’s election. Otherwise you will be looking at not just increased transport fares, you are also looking at 9% GST and increased S&CC charges too amongst other things.

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  • how PAP Singapore works:

    In a national monopoly, there’s no market competition to compel them to perform. So they underperform, and get away with it. They simply raise fares whenever they need to plug any holes. There’s no competition to prevent or stop them. Commuters are held to ransom and cannot vote with their feet because it is a monopoly.

    And when it is run and overseen by civil servants, they even receive millions and yes, bonuses too, for under performance and incompetence This is how PAP Singapore works.

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  • how PAP Singapore works:

    how PAP Singapore works:

    In a national monopoly, there’s no market competition to compel them to perform. So they underperform, and get away with it. They simply raise fares whenever they need to plug any holes. There’s no competition to prevent or stop them. Commuters are held to ransom and cannot vote with their feet because it is a monopoly.

    The highest paid leaders in the world have no ability to ask what advantages there are to have a national monopoly in the hands of private shareholders to hold commuters to ransom.

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  • You perform, or else .....:

    how PAP Singapore works: The highest paid leaders in the world have no ability to ask what advantages there are to have a national monopoly in the hands of private shareholders to hold commuters to ransom.

    The PAP civil servants without exposure to market competition running our country are unable to understand how the real world works. They are unable to fathom that things works better when they are in private hands only when there is COMPETITION to compel them to perform.

    Now, when it comes to a national monopoly, the civil servants appointed to run our GLC’s are not compelled to perform. And their civil servant superiors who appointed them and oversee them are equally incompetent and clueless.

    They are unable to understand that for such monopolies to perform, there need to be an effectual task master. And the most effective task masters will be those who feel the pain, viz. the consumers and the tax payers (the public). You perform, or else …..

    For that to be effective, there must be complete transparency and openness. No holding back of information or spin or biased reporting by the msm.

    They have to be made accountable. Much like a private sector CEO when he/she fails to perform or underperform.

    For that to happen, the PAP has to be removed.

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  • Dr. Chan:

    Can the 30% who did not vote for PAP not suffer together with the 70% who did in the last GE?
    Maybe take a survey, check the votes records, and just make the 70% pay for all the tax hike, price hike etc. because they enjoy being screwed. Don’t let the 30% burdened by this because they did not vote for it.

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  • goldman sachs:

    We call this privatization of profits and costs are socialised. Means the crony capitalists have screwed the people.

    Why dont you go into SMRT’s website and pull out the Annual Reports of 2002 to 2012 and find out who hired Saw and who failed to monitor Saw, you will be surprised with the familiar faces there who should have been sued for breach of their Director’s Duty on their failure to maintain the system resulting in massive losses.

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  • Profit not enough:

    In the old dynasties in China, the emperor generally has his favourite plp who has no lp as he has to flit around the columbines so he has to be castrated 你his has a whole string of plps or rather fart worms just as lhy/lwl warned the dynasty hunger but it would be naive to think these siblings don’t know their ambitious super arrogant father has already had his dynasty in mind with a wrong calculation to adopt the chinese tradition of choosing the elder n not the capable son to succeed him. another fatal error was to waste a dil who was well liked by those who have acquainted her n replacing her to continue strangulating already a weakling. id lhy has followed the Tang emperor lee si ming o李世民o who has ousted his elder brother lee jian chen, the named successor n went on to establish one of the better dynasty in Chinese Imperial History. But no one can predicted the same results would take place but netizens who r NS comrades with lhy seemed to have better experience of comradeship as compared to kopitiam comments of disgust to have to wait for the prince 太子 to come for a rescue to boost his image as arranged by the royal plps. So ironically the Tang Lee dynasty has its fortune adjusted in time n enjoyed many successors before a moronic success brought to its cessation.
    Greed in a rare n surprising confession wrapped as advice of NTUC membership n indirectly to citizenry is the the root of the degeneration of SIN Lee Dynasty coupled with aggressiveness if Singaporeans indoctrinated destructively by the dynasty to degraded to a balless or as lky opined publicly daft.
    Greed in its extremity really mean profit no matter how humongous it is will still be not enough to quench the greed n has to fleece the public further to provide parasitic rewards for nepotists n plps . This is what happens with the v3 n v4 PAP, growing hungrier, greedier n more aggressive couple with inhumanly arrogance n egoistic in the extreme.
    The end of each dynasty in imperial China followed by a change n the cycle repeats again till Communism set in n once again greed has returned communism to worse capitalism dressed in communism during the last decade. The same greed has seen many Citizens having to turn to begging for medical treatment n a minimum surviving state. Popular talent couple with begging for help shows r aplenty in China.
    Singaporeans should heed n quickly get rid of the badly degenerated pap n put in place a true democracy with a multiparties parliament to ensure checks n balances n to keep political greed at its minimum. Only then will Singaporeans hope to maintain their real safe, clean, responsible n laced with bureaucratic n political accountability paradise island as they have known before pap gets super greedy, super arrogant n super inhuman!

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  • Incompetence shows:

    Of course its unfair.
    They foul up but we pay the price?
    No can do, no can do.
    How to protest? Simple VTO …dont think twice..

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  • Don't Say Boh Pian Hor:

    Dafts should be enjoying the repeated screwing from greedy thugs they voted for.

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  • You R The Dumb One:

    how PAP Singapore works: The highest paid leaders in the world have no ability to ask what advantages there are to have a national monopoly in the hands of private shareholders to hold commuters to ransom.

    They already used their highly paid ability to create the monopoly to enrich themselves.

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  • Mike:

    SGreans should just shut-up.
    Each time they helps, deeper the shit you are into. Don’t you get it?

    Most effective is VTO.

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  • frills like musicians:

    //operating costs were significantly higher than its fare income for the financial year ending March 2018.//

    got a lot of fatty layers or not ? got maintenance and asset issues or not. or spent too much on frills like musicians, fanciful tv, beautiful glossy propaganda adverts ?

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