I find most heartache at the fact that my fellow singkies just
missed the point that local public
transport (with the exception of the mature train lines)
were never terribly profitable to start with.
For those who keep chest-banging and loudly proclaiming SMRT IS
PROFITABLE, I suggest you should read the annual reports and
revenue flows to understand where these money have been coming
from.
Even CDG doesn't make much money from taxi, bus, train, LRT.
Cynism doesn't make one look smart. Quite the contrary in fact,
and I will not apologise for this caustic view of mine.
***
Still no excuse.
How come CDG can break even with 3000 buses with bulk purchases
in recent years (really bulk purchase), but SMRT's 800-strong fleet
can still come up with a staggering $30M loss?
If we look at the MAN purchases, it represents only a
comparative 1/4 of the fleet. SBST has been far more aggressive in
replacing ageing assets and still manages to break even on the
whole.
Revenue figures in fact suggest that SMRT earns more money on per-bus basis
than SBST so catchment isn't the issue as suggested many times! Its
the cost....reading the annual reports will show this fact.
The biggest problem with SMRT is its inexplicable inability to
look far ahead. And Desmond Kwek looks like all talk and little
movement else.
About SMRT facing a "unsustainable future"? RUBBISH. We have a
dual-operator situation precisely to set bench-marks against both
operators as they "compete". It is clear which one is the laggard.
Replace the tracks one time only = unsustainable?? Especially since
the NSEWL have been raking in so much profits all these while?
Where did these profits go???
http://www.todayonline.com/singapore/public-transport-business-models-not-sustainable
Now is the chance to try to correct the mistakesmade by SMRT and
TIBS and today's SMRT will do well not to squander this chance lest
LTA gets fed up and push it aside. Think not that the govt is not
above doing shock measures when it has been embarassed enough.
