SMRT

[CityFarmer]

It will shed more light on the fare review, on coming Monday...

Govt to respond to fare review proposals on Monday

SINGAPORE — Transport Minister Lui Tuck Yew has said he will respond to the Fare Review Mechanism Committee’s recommendations when Parliament sits on Monday (Nov 11).

In post on his Facebook page today, Mr Lui also said several Members of Parliament have filed questions related to public transport affordability, and that he would respond on Monday.

He will also address questions on when the fare concessions will be implemented, whether and when there will be a fare increase, as well as what will happen to the 2012 fare review which was suspended pending the committee’s report.

Mr Lui said he was encouraged that many Singaporeans are supportive of the fare review recommendations, particularly those on fare concessions. CHANNEL NEWSASIA
http://www.todayonline.com/singapore/gov...ons-monday

Low-income, disabled commuters to get public transport relief: Lui

SINGAPORE — Public transport fares are likely to have to go up in the coming years, but they will not become less affordable for the average commuter, and will be considerably more affordable for the low-income and disadvantaged groups, Transport Minister Lui Tuck Yew said in Parliament today (Nov 11).

Accepting recommendations made by a high-level panel set up to review public transport fares, including funding two new concession schemes for low-income workers and the disabled, Mr Lui said any fare increase may only be implemented in the first half of next year.

He added that he hopes that any fare increase for the next round of fare adjustment do not exceed this year’s average national wage increase as this will avoid an outcome where fares suddenly become less affordable for the average commuter.

Mr Lui said the details of these two concession schemes will have to be worked out, including who can apply and how to apply, and the precise concessionary benefits.

The Minister said that an estimated half a million Singaporeans will be eligible for the two new schemes, constituting a 40 per cent increase in the number of commuters who currently enjoy various fare concessions, from 1.2 million currently to about 1.7 million.

Mr Lui also addressed the issue of service quality, explaining that leaving it out of the fare formula does not mean that service levels are not being raised, or that public transport operators are being let off the hook.

He revealed that the government is raising Operating Performance Standards, increasing penalties, and tightening the regulatory framework to ensure that operators deliver higher service levels.

Starting next year, rail operators will be running more train trips throughout the day to bring down waiting times to no more than five minutes for most of the day.

Operators will also need to further reduce the number of short service delays below five minutes and strengthen their maintenance regimes to raise reliability levels.

These improvements will come with stiffer penalties for non-compliance.
http://www.todayonline.com/singapore/low...relief-lui

[countonme]

Its very good that many Singaporeans are supporting it, and in such a short time a survey is made. It remains to be seen what is the fare hike they will allow in early 2014.

Mr Lui said he was encouraged that many Singaporeans are supportive of the fare review recommendations, particularly those on fare concessions. CHANNEL NEWSASIA

http://www.todayonline.com/singapore/gov...ons-monday

[CityFarmer]

The ball starts rolling for fare review. What is the magic % that SMRT is expecting?

Fare review exercise underway

SINGAPORE — Public transport operators may submit fare review applications to the Public Transport Council (PTC) for consideration, after the council announced today (Nov 18) that it has started a fare review exercise.

In a statement, the PTC said that the exercise for the year 2013 will be combined with that for the year 2012, which was suspended pending the work of the Fare Review Mechanism Committee (FRMC).

Public transport operators may submit fare review applications to the PTC by Dec 19. The Council’s decision on applications will be announced in the first quarter of next year.

The PTC said that it will pay particular attention to fare affordability for lower income groups while ensuring that the public transport system remains financially sustainable.

Where necessary, the fare adjustment cap will be spread over more than one year to prevent a sudden and large fare hike, the PTC added.

The council PTC will also take into account new concessions to be funded by the Government in the fare review exercise.

SMRT confirmed that it will be submitting its application soon.

“SMRT remains committed to delivering a reliable and service-oriented public transport network. We seek a better alignment between fares and operating costs, and will be submitting our application for a fare review in the coming weeks,” Ms Alina Boey, SMRT’s Director of Media Marketing and Communications, told TODAY.
http://www.todayonline.com/singapore/far...e-underway

[countonme]

All these PTC, SMRT, SBS, LTA, FRMC, are they not all sama sama? Get ready for the stock to turn around once there is a good fare hike!

[Curiousparty]

PTC is essentially using the Price Cap Regulation to keep a lid on the max fare hike, while doing away with the ROTA guarantee.

Does this help the PTOs too much?

[felixleong]

http://www.straitstimes.com/breaking-new...h-20131118

[Jon-san]

http://www.straitstimes.com/breaking-new...h-20131118

Sounds like it's going to be a fairly significant increase, considering they are including 2012 as well.

[felixleong]

Yup and consumers are gonna make noise again

but shareholders will be smiling ^_^

[Ben]

I would consider a 5% increase as significant. Let's don't JTC (jump to conclusion). If the past is anything to go by, our govt will not want to upset the public too much, especially service level has not improved much in the eyes of the public. So the increase might be smaller than expected, or very likely spread over two years. But it is better to have some increase than not, so overall is still a positive development for the PTOs.

[CityFarmer]

I will refer to ARC's post, on the topic. I agreed with him that a 3% increment is more likely. Bear in mind that, 20%-50% of the increment will be contributed, so the effective increment will be between 1.5%-2.4%, depending on the contribution rate.

I doubt the increment will be spread, since the increment has been deferred for quite a while already.

http://www.valuebuddies.com/thread-197-p...l#pid66865

(not vested)