SMRT

I have been lamenting for years why SMRT is not following CD strategy of going aboard, since the local market is rather restricted and not sustainable, at least not until the latest development on the new bus financing framework and the prospect of new rail financing framework. I can now see that the management is taking a more proactive actions and is serious about its venture into overseas markets. Not too long ago the CEO even met up with Jokowi, President-elect of Indonesia, regarding the construction of monorail project in Jakarta. This is follow by a JV with Toshiba to market its PMSM system on the world market. As I said before, I have faith in the current CEO and management team. They are definitely doing a much better job than the old team.

It is too early to say if they are overpaying as it is just at the preliminary stage. I am sure they know their financials well, and the fact that they are trying may suggest that something good, in term of cash flows, is coming on their way. It could be debt, equity raising or even the anticipated offloading of assets back to LTA. But at this stage, no need to speculate, wait until they are successful in their bid.

It is interesting to see how this company learn from its past mistakes and transform itself and brings back those glory days. So far so good. Give them time, and faith in executing out these strategies.

(12-10-2014, 12:05 PM)Ben Wrote: I have been lamenting for years why SMRT is not following CD strategy of going aboard, since the local market is rather restricted and not sustainable, at least not until the latest development on the new bus financing framework and the prospect of new rail financing framework. I can now see that the management is taking a more proactive actions and is serious about its venture into overseas markets. Not too long ago the CEO even met up with Jokowi, President-elect of Indonesia, regarding the construction of monorail project in Jakarta. This is follow by a JV with Toshiba to market its PMSM system on the world market. As I said before, I have faith in the current CEO and management team. They are definitely doing a much better job than the old team.

It is too early to say if they are overpaying as it is just at the preliminary stage. I am sure they know their financials well, and the fact that they are trying may suggest that something good, in term of cash flows, is coming on their way. It could be debt, equity raising or even the anticipated offloading of assets back to LTA. But at this stage, no need to speculate, wait until they are successful in their bid.

It is interesting to see how this company learn from its past mistakes and transform itself and brings back those glory days. So far so good. Give them time, and faith in executing out these strategies.

Well said.

The company has decided not to make a bid at this stage to acquire Addison Lee....

http://infopub.sgx.com/FileOpen/Response...eID=317878

http://www.businesstimes.com.sg/companie...i-operator

SMRT not bidding for UK taxi operator
By
Samuel Eesamuelee@sph.com.sg
14 Oct5:50 AM
Singapore

THE details may be sketchy and the background information not available but if there is one thing observers believe SMRT Corp should not do is bite off more than it can chew.

Singapore's main rail operator on Monday issued a statement saying it has decided "not to make a

Analysts' view on the latest SMRT move...

SMRT right not to bid for UK taxi firm now: Analysts

SINGAPORE — SMRT’s decision yesterday against bidding for Addison Lee was the right move, with the Singapore company’s financial position making it difficult to buy out the British taxi operator pitched at S$1.6 billion, analysts told TODAY, adding that SMRT should focus on fortifying its business at home before acquiring overseas assets.

“To start with, SMRT’s market capitalisation was less than S$1.6 billion as of its last financial year ended March 2014. In the same period, cash flow was negative and gearing stood at 65 per cent, while it also suffered its first loss in its fare business … It has a lot to do now at home and it doesn’t need any distraction abroad,” IG Markets analyst Ryan Huang said.
...
http://www.todayonline.com/singapore/smr...w-analysts

I say this is move is prudent, unless SMRT has already been operating in UK conditions, else they can always buy Comfort Delgo's shares instead!!

SMRT launched its Taxi App in Singapore. I am yet to try it out...

Say HAILO! World’s Most Loved Taxi App Arrives In Singapore

Hailo’s Word-Class Service Now Available To Taxi Drivers, Passengers
and Local Businesses
...
http://infopub.sgx.com/FileOpen/Press_Re...eID=320913

Group Revenue increased 6.0% to $314.0 million in 2Q FY2015 due to broad based revenue growth across most of the segments. Operating profit increased 66.5% to $33.3 million in 2Q FY2015 on the back of higher operating profit in Fare Business of $5.5 million and in Non-Fare business of $27.2 million. PATMI increased 75.5% to $25.3 million.

(not vested)

http://www.businesstimes.com.sg/companie...5-at-s253m

SMRT's Q2 profit up 75.5% at S$25.3m
By
Samuel Eesamuelee@sph.com.sg
30630737.jpg SMRT Corp's net profit spiked up 75.5 per cent to S$25.3 million for the second quarter ended Sept 30 on improved performance in its train and bus operations, as well as higher profitability from its taxi, rental and advertising businesses. PHOTO: SPH
1 Nov5:50 AM
Singapore

SMRT Corp's net profit spiked up 75.5 per cent to S$25.3 million for the second quarter ended Sept 30 on improved performance in its train and bus operations, as well as higher profitability from its taxi, rental and advertising businesses.

Second-quarter revenue was 6.0

A good set of results IMO. While the bright days could still be some distance away, the company has certainly seen its darkest days. I continue to believe that the current management team, under the leadership of Desmond Kuek, will steer the company to greater height.