SMRT

[Ben]

As for the expertise portion, perhaps LTA can farm the retail mgmt to other stat boards like HDB, JTC or SLA. These 3 stat boards have expertise in managing businesses especially HDB who has a commercial property arm and many of its commercial shops are in the surrounding area of mrt stations
<not vested>

What value or advantage would it bring to the table if the retail business were to be transferred and managed by HDB/JTC/SLA vs SMRT? From almost non existence, SMRT has over the years built up the retail business to where it is today and so I think they know a thing or two better than the three stat board.

[specuvestor]

I strongly believe SMRT does not own the retail assets for train stations. Using Onemap, the station boxes tells us that MRT station ownership belongs to LTA.

Highly likely they are taking a lease/license from LTA to run the stations which has special clauses. I strongly urge shareholders of SMRT to clarify with the mgmt on this point

As for the expertise portion, perhaps LTA can farm the retail mgmt to other stat boards like HDB, JTC or SLA. These 3 stat boards have expertise in managing businesses especially HDB who has a commercial property arm and many of its commercial shops are in the surrounding area of mrt stations
<not vested>

What value or advantage would it bring to the table if the retail business were to be transferred and managed by HDB/JTC/SLA vs SMRT? From almost non existence, SMRT has over the years built up the retail business to where it is today and so I think they know a thing or two better than the three stat board.

As per my post, I've already asked and the retail assets lease expire same time 2028 though they didn't want to acknowledge that these leases are linked to the rail biz

And Ben is right that the previous CEO built up the retail biz from scratch. In fact she should not even be running a rail business since she had no experience in the transport sector IIRC. She has transformed the subsidising role of the auxillary biz into the main biz and neglected the core biz.

Her mentality is not unlike that of TT Durai. Similar in putting the cart before the horse. Board should consider suitability of candidate when objective is not purely profit maximisation.

[CityFarmer]

why not SBStransit buy-out SMRT?!?!

since singapore is only BIG/profitable enough for 1 transport operator anyway!

SBST market cap is slightly above S$500 mil, while SMRT market cap is close to S$2.5 billion. If consolidation needed and possible, it is more likely SMRT buy-up SBST.

[Dividend Warrior]

SMRT is fined S$1.6 million

A rather large sum of money!


(Not vested)

[Curiousparty]

in the end, it is consumers who will be made to pay. Am I rite?

SMRT is fined S$1.6 million

A rather large sum of money!


(Not vested)

[specuvestor]

^^ Not if the tariffs are regulated

[egghead]

Even before the new financing framework, fare increase will need to be reviewed by PTC and incurred fines can hardly be used to justify fare increase. Not sure what is Curiousparty's point.

[CityFarmer]

A belated gesture of good customer service. It doesn't cost too much, but a good gesture of customer-care.

One "rule" that always haunted me during MRT trip, is the baby-feeding on board. Does it still allowed on board, or need to go out to seek "help??" from station staff to do it??

(not vested)

Trial lets commuters charge mobile devices at four MRT stations

SINGAPORE — Train commuters will be able to charge their mobile devices for free at four stations — City Hall, Orchard, Tanjong Pagar and Kent Ridge — under a trial launched by SMRT over the next few weeks.

Having charging points at its stations is one of the new initiatives rolled out by the rail operator to enhance commuters’ travel experience. The four stations were chosen for the trial due to their high traffic flow, with the first charging point installed at the free concourse area at City Hall MRT station late last week.

“We would like to assure our commuters that even as we roll out these new service enhancement initiatives to improve commuter travel experience, we remain committed and focused on ensuring reliable train service through the procurement of new trains and ongoing asset renewal programmes,” said Mr Patrick Nathan, SMRT’s vice-president for corporate information and communications.
...
http://www.todayonline.com/singapore/tri...t-stations

[Curiousparty]

My point is any cost incurred by SMRT will eventually have to be recovered from consumers or govt (thru subsidy).

If it is thru subsidy, then it is tax payer money.

Even before the new financing framework, fare increase will need to be reviewed by PTC and incurred fines can hardly be used to justify fare increase. Not sure what is Curiousparty's point.

[Ben]

My point is any cost incurred by SMRT will eventually have to be recovered from consumers or govt (thru subsidy).

If it is thru subsidy, then it is tax payer money.

I do not know how you come out with that conclusion and I find it difficult to understand that conclusion. SMRT fare business has been deteriorating years after years, mainly because they are not able to recover the cost incurred, be it from customers or govt. If they have difficulties even to recover normal business running costs, what makes you think they can recover such penalty costs?

I hope SMRT has learnt all these lessons and avoid such costly mistakes in the future, for the good of both the passengers and the company. I have confidence that this management team, led by Desmond Kuek, is able to do a better job than the previous team.