SMRT

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Aiyoh! Can you folks start a new thread to discuss about your favourite fruits (eg. PAPAYA) rather than fill this informative threads with hard-to-understand relationship with SMRT analysis?

In fact, if you are so confident that 'your favourite fruits' will help to ensure SMRT remain profitable, all the more reason you should make use of this unusual opportunity to buy their shares. Big Grin
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ,百战不殆 ;不知彼 ,不知己 ,每战必殆 ------------
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(12-02-2012, 05:24 PM)KopiKat Wrote: Aiyoh! Can you folks start a new thread to discuss about your favourite fruits (eg. PAPAYA) rather than fill this informative threads with hard-to-understand relationship with SMRT analysis?

In fact, if you are so confident that 'your favourite fruits' will help to ensure SMRT remain profitable, all the more reason you should make use of this unusual opportunity to buy their shares. Big Grin
Sorry hoh! PAPAYA not only has SMRT,; In fact PAPAYA has the whole "Lock, Stock & Barrel" ---"TooMuchSick", "NeAiSEE". You name them , what in Sinkapore are not belonging to or connected to your favourite fruit? Ha! Ha!
i like to add, besides, when talking about a counter we can look at it in many different angles. Anyway i thank you for your hard work in fundamental analysis and the likes. But sometimes, looking at a counter in a different angle, you can see it's different reflections of light. MHO.
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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Saw Phaik Hwa lands new job

Outgoing SMRT chief to join listed company not in transportation field

Published on Apr 3, 2012
By Christopher Tan, Senior Correspondent

MS SAW Phaik Hwa, who leaves train operator SMRT Corp on Thursday after helming it for nine years, has found a new job.

The 57-year-old would say only that she is joining a listed company which is not in the transportation field. Huh Dodgy

She added that it was not appropriate for her to reveal its identity, given that the company is publicly listed and should make the announcement of her appointment.

Ms Saw resigned from SMRT on Jan 6, shortly after two massive rail breakdowns of the North-South Line last December triggered a government-appointed committee of inquiry that will begin hearing on April 16.

Her resignation came as a surprise as she had said on Dec 18, a day after the second breakdown, that she was staying put despite calls for her to step down.

Her finding a new job so quickly is a reprise of a similar comeback she made nearly 10 years ago.

In December 2002, just months after being retrenched from duty-free retail chain DFS Venture Singapore after a 19-year stint, she was named chief executive of SMRT.

Her appointment raised eyebrows as, unlike her predecessors, she was not from the armed forces or civil service.

But over the years, Ms Saw proved her sceptics wrong by growing a second, lucrative business for SMRT: rental of retail space within stations.

The new business has since expanded to become the listed company's biggest profit generator, after train operations.

But following the breakdowns in December, critics said SMRT's success with the rental business was at the expense of its core competency to run a rail network.

The feisty, single executive, who is recuperating from knee surgery as well as a thyroid procedure, has started a blog.

In it, she has touched on early challenges such as the Bukit Panjang LRT system breaking down ever so frequently, merging bus company Tibs Holdings into the SMRT fold and SMRT's dismal profitability in the early days.

While SMRT's longest-serving chief executive, after the late Mr Lim Leong Geok, is leaving the company after her last day on Thursday, insiders said Ms Saw may be called to the stand at the inquiry convening on April 16 to investigate the breakdowns.

She, as well as SMRT, will be represented by senior counsel Cavinder Bull of Drew & Napier. The inquiry is expected to last eight weeks.

Meanwhile, the search for her replacement is ongoing. The Straits Times understands possible candidates include an SMRT board member and a senior manager at a major property group.

There is also talk that a retiring senior army officer is in the running.

An appointment is likely to be made only after the public inquiry is over - possibly in the third or fourth quarter.
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Good for her. Now she can continue buying those nice sports cars.
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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Anyone any news about coming SMRT's quarterly report. How much lesser the dvidend payout will be?
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Reply
(03-04-2012, 03:21 PM)Temperament Wrote: Anyone any news about coming SMRT's quarterly report. How much lesser the dvidend payout will be?

Hi there,

Should be end April.
Dividends should maintain.
8.5 cts per financial year.Smile
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(03-04-2012, 03:21 PM)Temperament Wrote: Anyone any news about coming SMRT's quarterly report. How much lesser the dvidend payout will be?

Currently year profit is definitely going to be lower than previous years, it should not be a surprise if SMRT cut dividends this year, but I believe it will just be a minor cut.

What I am more curious to see is the ex CEO package, will SMRT give her an "ang-bao" before she leaves?
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Wheelock Properties (S) has vacant position for CEO for almost 1 month liao. May be she is a good fit for the position.
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SMRT held a media briefing this afternoon to announce plan for renewal of ageing MRT assets.

At the media conference , SMRT says the planned additional maintenance, upgrading and renewal of assets will cost in the region of $900 million.

Its interesting that SMRT is spending so much considering that they only has an 'operating and maintenance' license from LTA to operate the NSL and EWL (which is where all the 900 million will be spend). The license was awarded in Apr 1998 for 30 yrs (to run till 2028).

[ Source: SMRT Investor Presentation Slide #6 ]

If that is the case, I wondered if its in the operating license that SMRT is responsible for renewing and replacing the ageing assets and infrastructure. But I did recall our previous Transport Minister mentioning something about co-financing of the upgrading project; so maybe they dun have to fork out the full sum. Or maybe SMRT's share of the cost is the $900 million.

Whatever the case, this will definitely be hit to SMRT's bottomline for the next 7-8 yrs. But if the renewal leads to higher efficiency and fewer breakdowns, then SMRT may still get a positive ROI from its remaining term of the operating license.
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this is an exciting news given the $900 million figure. As for how it affects their bottom line, it will depend on how they intend to capitalise the expense and how much they will write-off yearly. If it is capitalised to 2028, it will mean 55m in depreciation per year which is 1/3 of SMRT net profit for FY 2011.

LTA may chip in and fork out the full fee. However, like the award of downtown license to SBS, a huge license fee will now be paid where even the train fee is taken care of by LTA. For downtown line, SBS will be paying $1.6 billion over 19 years license period.

We seemed to be getting closer to nationalisation of private transport, other than the retorics that often cite competition leads to greater service and benefits for the public.

If SMRT plunges by 50% tomorrow, it is going to be really exciting.

Another thing worth the excitement is who gets to benefit from this $900 million contracts?

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Of this $900m, $195 million has been announced earlier in Feb and awarded to Thales.

http://www.smrt.com.sg/Upload/2012211546372978.pdf

Another $40 million has been awarded by LTA - http://app.lta.gov.sg/corp_press_content...u8381p6o95

As for the remaining $660 million, around 15-30m will be for changing of claws

Seemed like re-sleepering is going to cost more than $300m given that it is the only project that is expected to last until 2019. Singapore seemed not to have any sleepering company, I guess bulk of the $900 million will not end up in the pocket of any Singapore listed firm.
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