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31-07-2014, 09:44 AM
It is a decent set of Q1 result IMHO. Losses from the Fare business has narrow from -$5.5M to -$1.1M, due to improved profit from Rail and lower losses from Bus. This includes the $1.6M penalty imposed by LTA. It is highly possible that Fare business will turn in a profit as soon as the next quarter. Non fare business continues to shine, especially Rental division. And with contribution from Sport Hub in the future, this division looks set to look even better.
Taxi rental continue to perform satisfactory. The other day I was talking to a taxi driver who is also one of my relatives. He was lamenting that the industry has changed so much. The days of empty taxi waiting for hirers are over, now it is a long queue of potential drivers waiting for a car. It jell with the increase taxi rental revenue we see in SMRT results.
I personally think that SMRT has seen it worst and is turning around. Yes, there are still formidable obstacles ahead, but things seem to be moving alone in the right direction. In its outlook statement, the company expects its prospect to improve with the impending regulatory changes in the land transportation industry. Hmm…impending…I place my trust on Desmond Kuek, a former army general, mission focus, swift and decisive.
Taxi rental continue to perform satisfactory. The other day I was talking to a taxi driver who is also one of my relatives. He was lamenting that the industry has changed so much. The days of empty taxi waiting for hirers are over, now it is a long queue of potential drivers waiting for a car. It jell with the increase taxi rental revenue we see in SMRT results.
I personally think that SMRT has seen it worst and is turning around. Yes, there are still formidable obstacles ahead, but things seem to be moving alone in the right direction. In its outlook statement, the company expects its prospect to improve with the impending regulatory changes in the land transportation industry. Hmm…impending…I place my trust on Desmond Kuek, a former army general, mission focus, swift and decisive.