ALL consolidated SMRT/NEL/KT.. simisai BREAKDOWNS here!

[Watwheels]

 

maybe...only time will tell who gets it right...just like the smrt initial privatisation. It look good on paper but many mistakes were made along the way resulting in the current situation. Privatisation is supposed to be beneficial for all parties....but some how or rather it always go wrong.

 

 

To me it's not about the privatization model that is failing the company. The company was working fine before the population boom. It's after that the company cannot keep in pace and remember the constant fare hikes? They needed the extra money to keep up with maintainance.

Nationalisation to me I will think that the money will come from tax payers meaning those who do not take public transport they are also "paying" for the operation cost of public transport if the model doesn't help the company make profit. This might not be the best solution on the long run.

 

When the rail system is pushed over the limit, it's hard not to see that everything seems too be failing. So whoever made the drastic changes to the population is now paying for it. That's what I think.

Edited July 21, 2016 by Watwheels

[Evillusion]

Train fault this morning again! Between marina south pier and marina bay station!

maybe Singapore Tote Board can give odds on train breaking down...

[Bismarck]

peoples ....

 

this privatisation deal is very complex, like how petrol prices are set.

 

explain to you all the details also cannot understand one lah.

 

Best reply ever. easy to understand and no rebuttal can be made by the public. Hope the ministers and military CEOs can learn from you

[Evillusion]

 

 

 

To me it's not about the privatization model that is failing the company. The company was working fine before the population boom. It's after that the company cannot keep in pace and remember the constant fare hikes? They needed the extra money to keep up with maintainance.

Nationalisation to me I will think that the money will come from tax payers meaning those who do not take public transport they are also "paying" for the operation cost of public transport if the model doesn't help the company make profit. This might not be the best solution on the long run.

 

When the rail system is pushed over the limit, it's hard not to see that everything seems too be failing. So whoever made the drastic changes to the population is now paying for it. That's what I think.

We can agree on this point but the way it was maintained by getting cheap parts and the maximising of profits by sacrificing maintenance schedule and experience personnel also play a part in the train failures.

[Bismarck]

Last but certainly not least, SIA is not headed by an army general with no airline experience. The current CEO, Goh Choon Phong, joined SIA in 1990. Prior to his appointment as CEO in 2010, he worked for the SIA group for more than 20 years for the airlines' operations in China and Scandinavia (source: wiki). This should be the way. Has anyone watched Jiro dreams of Sushi? Jiro the sushi chef, was doing and perfecting his craft for his whole life and earned himself 3 Michelin stars. His work ethic, because it's repetitive, builds on itself and escalates.

 

To this day, I still could not understand the logic of parachuting army generals into fully operational listed companies. I feel sorry for NOL, MRT, Singtel, and a few others. It does not make sense to me especially when they were being paid millions for no relevant experience, and bringing their companies to their knees with the exception of Singtel, which was almost a monopoly back then.

I guess it's almost the same everywhere except what you mentioned. Even here at mcf some of mods did not become moderators without being a member first for sometime before becoming a mod.

[Blueray]

Best reply ever. easy to understand and no rebuttal can be made by the public. Hope the ministers and military CEOs can learn from you

 

ya what ... its really more complexer than petrol price formula ... which you commoners already cannot understand.

 

anyways, weekend coming, please go and play 4D, bet horse, bring children go East Coast Park and eat steam boat with family, OK ?

 

leave this to us professionals as we have comprehensive oversight and group think and self check this share buy back already.

 

 

ok lah, so mah farn ...

 

Chuan Jin ... throw out some durians to the commoners to make them happy, D13 can already ... MSW we keep ... after all, we have 70% ... 

[Joseph22]

I guess it's almost the same everywhere except what you mentioned. Even here at mcf some of mods did not become moderators without being a member first for sometime before becoming a mod.

By right if the whole system is very good and work/responsiblities are well de-centralised.... The Ceo don't have to be expert in their field. After all we constantly see some news of mnc new ceo are from other industries... But I guess SMRT a lot of decision are heavily rely on the ceo

[Donut]

Could it be something is very serious or wrong somewhere, that why pass it back to Govm.

 

The "real problem" may be needed to be exposed if SMRT still stay as a listing company...

 

Yes, my strong suspicion is SMRT has some things gone wrong inside. Whether we get to know, is another thing.

 

 

SINGAPORE—State-investment firm Temasek Holdings Pte. Ltd. has made an offer to buy shares it doesn’t already own in Singapore-listed SMRT Corp. that values the transport operator at 2.57 billion Singapore dollars (US$1.90 billion).

 

Temasek, which owns 54% of SMRT, plans to delist the transport company from the Singapore stock exchange by November. Temasek is offering to pay other shareholders of SMRT S$1.68 (US$1.24) a share—or S$1.18 billion—an 8.7% premium to the company’s last traded price of S$1.545, according to a statement from SMRT on Wednesday.

 

SMRT’s standing took a major hit in December 2011 when its subway lines suffered two major breakdowns that left more than 210,000 commuters stranded. The disruptions were the worst in the network’s history, prompting public outrage, criticism of the company’s wide-ranging interests and a rare government inquiry—a reflection of how seriously Singapore takes its record of orderliness and efficiency.

Less than a month later, the company’s chief executive resigned, saying she wanted to pursue personal interests. In July 2012, the inquiry into the service disruptions said it found management and operational shortcomings at SMRT and recommended broad remedies, but didn’t assign culpability to any individual.

 

Last week, Singapore’s Land Transport Authority announced a deal to take ownership of SMRT’s train assets, leaving it to focus on operations and maintenance of the network. The proposed asset sale is valued at S$1.1 billion, most of which would be used to repay SMRT’s debt. SMRT said it doesn’t intend to pay any dividends to its shareholders after the sale.

 

 

Many analysts cut their target prices for SMRT after the announcement, citing a worse earnings outlook as a result of the sale, which would crimp revenue.

 

SMRT is expected to face regulatory challenges from costs and uncertainties associated with an aging and expanded network, the statement said. It said privatization would provide SMRT with greater flexibility to focus on its primary role of delivering safe and high quality rail service without “short term pressures of being a listed company.”

 

Temasek has nearly a third of its investments in Singapore, managing a portfolio of US$179 billion as of March 31.

 

SMRT operates the bulk of Singapore’s mass rapid transit system. Separately, it also has a fleet of approximately 1,200 buses and 3,500 taxis.

 

Late last week, SMRT said in a statement that the current rail model was “unsustainable” and that its margins have narrowed significantly since 2012 due to the burden of more extensive maintenance, regulatory changes and fare increases that are limited by the government.

 

SMRT’s net profit fell to S$109.3 million (US$80.7 million) in the fiscal year ended March from a high of S$162.9 million in 2010.

 

SMRT’s shares have been on a trading halt since Friday pending an announcement of the asset sale and Temasek’s offer Wednesday.

 

Credit Suisse AG is advising Temasek on the deal, while Bank of America Merrill Lynch is the adviser for SMRT.

I guess it's almost the same everywhere except what you mentioned. Even here at mcf some of mods did not become moderators without being a member first for sometime before becoming a mod.

 

Cannot use Mods to compare with those generals hor....

 

First, we are no generals

Second, we are not paid millions

We are free labour, doing it for the sake of human manklnd.      

[gnail]

Recently Mr K is still talking about the hair-line cracks or actually a "real crack" is happening now

 

 

Yes, my strong suspicion is SMRT has some things gone wrong inside. Whether we get to know, is another thing.

 

 

SINGAPORE—State-investment firm Temasek Holdings Pte. Ltd. has made an offer to buy shares it doesn’t already own in Singapore-listed SMRT Corp. that values the transport operator at 2.57 billion Singapore dollars (US$1.90 billion).

 

Temasek, which owns 54% of SMRT, plans to delist the transport company from the Singapore stock exchange by November. Temasek is offering to pay other shareholders of SMRT S$1.68 (US$1.24) a share—or S$1.18 billion—an 8.7% premium to the company’s last traded price of S$1.545, according to a statement from SMRT on Wednesday.

 

SMRT’s standing took a major hit in December 2011 when its subway lines suffered two major breakdowns that left more than 210,000 commuters stranded. The disruptions were the worst in the network’s history, prompting public outrage, criticism of the company’s wide-ranging interests and a rare government inquiry—a reflection of how seriously Singapore takes its record of orderliness and efficiency.

Less than a month later, the company’s chief executive resigned, saying she wanted to pursue personal interests. In July 2012, the inquiry into the service disruptions said it found management and operational shortcomings at SMRT and recommended broad remedies, but didn’t assign culpability to any individual.

 

Last week, Singapore’s Land Transport Authority announced a deal to take ownership of SMRT’s train assets, leaving it to focus on operations and maintenance of the network. The proposed asset sale is valued at S$1.1 billion, most of which would be used to repay SMRT’s debt. SMRT said it doesn’t intend to pay any dividends to its shareholders after the sale.

 

 

Many analysts cut their target prices for SMRT after the announcement, citing a worse earnings outlook as a result of the sale, which would crimp revenue.

 

SMRT is expected to face regulatory challenges from costs and uncertainties associated with an aging and expanded network, the statement said. It said privatization would provide SMRT with greater flexibility to focus on its primary role of delivering safe and high quality rail service without “short term pressures of being a listed company.”

 

Temasek has nearly a third of its investments in Singapore, managing a portfolio of US$179 billion as of March 31.

 

SMRT operates the bulk of Singapore’s mass rapid transit system. Separately, it also has a fleet of approximately 1,200 buses and 3,500 taxis.

 

Late last week, SMRT said in a statement that the current rail model was “unsustainable” and that its margins have narrowed significantly since 2012 due to the burden of more extensive maintenance, regulatory changes and fare increases that are limited by the government.

 

SMRT’s net profit fell to S$109.3 million (US$80.7 million) in the fiscal year ended March from a high of S$162.9 million in 2010.

 

SMRT’s shares have been on a trading halt since Friday pending an announcement of the asset sale and Temasek’s offer Wednesday.

 

Credit Suisse AG is advising Temasek on the deal, while Bank of America Merrill Lynch is the adviser for SMRT.

 

Cannot use Mods to compare with those generals hor....

 

First, we are no generals

Second, we are not paid millions

We are free labour, doing it for the sake of human manklnd.      

 

[Bismarck]

ya what ... its really more complexer than petrol price formula ... which you commoners already cannot understand.

 

anyways, weekend coming, please go and play 4D, bet horse, bring children go East Coast Park and eat steam boat with family, OK ?

 

leave this to us professionals as we have comprehensive oversight and group think and self check this share buy back already.

 

 

ok lah, so mah farn ...

 

Chuan Jin ... throw out some durians to the commoners to make them happy, D13 can already ... MSW we keep ... after all, we have 70% ...

Yah, I am happy with eating durians even if it is not D13. But I will use hands to eat and not use fork coz I simple minded and not elite

By right if the whole system is very good and work/responsiblities are well de-centralised.... The Ceo don't have to be expert in their field. After all we constantly see some news of mnc new ceo are from other industries... But I guess SMRT a lot of decision are heavily rely on the ceo

Why should the system run by itself when the ceo just sit there do nothing and earn millions? The ceo must work to earn his money ok! Haha

[Weez911]

Yah, I am happy with eating durians even if it is not D13. But I will use hands to eat and not use fork coz I simple minded and not elite

 

The best part of the durian is the tiny layer of skin surrounding the seed in my view. If using fork, how do they manage to eat this layer? I suspect rich people don't bother with that skin layer one.

Why should the system run by itself when the ceo just sit there do nothing and earn millions? The ceo must work to earn his money ok! Haha

 

From Boeing to Ford I can still understand because both are profit organisations. What exactly does SAF fall into the scheme of things? I suspect that fatty from NOL didn't even pass his IPPT, a pre-requisite for a commissioned officer, ie, he didn't even do his fundamental job well in the army.

Edited July 21, 2016 by Weez911

[Joseph22]

Yah, I am happy with eating durians even if it is not D13. But I will use hands to eat and not use fork coz I simple minded and not elite

 

Why should the system run by itself when the ceo just sit there do nothing and earn millions? The ceo must work to earn his money ok! Haha

The ceo by right is to set the general direction of the company. And do strategy planning and also lobby with other Coe for potential project. But those are large corporate we are talking though.

The best part of the durian is the tiny layer of skin surrounding the seed in my view. If using fork, how do they manage to eat this layer? I suspect rich people don't bother with that skin layer one.

 

 

From Boeing to Ford I can still understand because both are profit organisations. What exactly does SAF fall into the scheme of things? I suspect that fatty from NOL didn't even pass his IPPT, a pre-requisite for a commissioned officer, ie, he didn't even do his fundamental job well in the army.

He got pass lah... But likely fail after he promoted to crabs.

[Joseph22]

The CEO is the most important decision maker and face of a company, he can make or break the company in a very short time.

Exactly.... And end up we pay millions dollar to Coe to make maintenance decision.... I think we can save more money by hiring a maintenance manager.

[Porker]

Exactly.... And end up we pay millions dollar to Coe to make maintenance decision.... I think we can save more money by hiring a maintenance manager.

 

You should put up your hand and tell them you can replace the Coe at a significantly lower cost 

[Joseph22]

You should put up your hand and tell them you can replace the Coe at a significantly lower cost

Yeah... Result produce will be same any way..

[Weez911]

BTW, that NOL fatty now becomes a director of SPH. Huat ah! 

 

Edited July 21, 2016 by Weez911

[Playtime]

Last but certainly not least, SIA is not headed by an army general with no airline experience. The current CEO, Goh Choon Phong, joined SIA in 1990. Prior to his appointment as CEO in 2010, he worked for the SIA group for more than 20 years for the airlines' operations in China and Scandinavia (source: wiki). This should be the way. Has anyone watched Jiro dreams of Sushi? Jiro the sushi chef, was doing and perfecting his craft for his whole life and earned himself 3 Michelin stars. His work ethic, because it's repetitive, builds on itself and escalates.

 

To this day, I still could not understand the logic of parachuting army generals into fully operational listed companies. I feel sorry for NOL, MRT, Singtel, and a few others. It does not make sense to me especially when they were being paid millions for no relevant experience, and bringing their companies to their knees with the exception of Singtel, which was almost a monopoly back then.

Actually cannot fully blame the generals.

 

Whole life they were condition, trained, selected. .. basically selectively breed for obedience, they go where they are told.

 

So blame the people who send them there in the first place.

 

That said, while we don't want generals idle and unemployable cos that may create a security risk, these generals are by no means financially deprived from their years in service and should have the dignity to refuse since historically they will clearly cause more harm than good in the companies they CEO.

Perhaps the money were too good to refuse.

 

Which now uncomfortably leads to the question. . If character and money are weaknesses of our top soldiers. . Where does that leave singapore? ?!!

BTW, that NOL fatty now becomes a director of SPH. Huat ah!

 

jt-38621067_-_06_06_2016_-_jwnol.jpg

Hee could possibly make more by being a body double for Kim in North Korea

[Joseph22]

Actually cannot fully blame the generals.

 

Whole life they were condition, trained, selected. .. basically selectively breed for obedience, they go where they are told.

 

So blame the people who send them there in the first place.

 

That said, while we don't want generals idle and unemployable cos that may create a security risk, these generals are by no means financially deprived from their years in service and should have the dignity to refuse since historically they will clearly cause more harm than good in the companies they CEO.

Perhaps the money were too good to refuse.

 

Which now uncomfortably leads to the question. . If character and money are weaknesses of our top soldiers. . Where does that leave singapore? ?!!

I suspect the reason why they are move to corporate was more to prevent generals for holding military strength for Too Long.. Some people worry about coup.