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No increase in bus/mrt fare for kids

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Re: No increase in bus/mrt fare for kids

Postby alng » Mon Feb 02, 2015 6:20 pm

kychua wrote:
alng wrote:Profit first lah! Then kpi achieved then get high pay high bonuses approved by parliament !


No. 1 govt...no. 1 in sucking money!


Er...I did not write that....pirated wrote.

alng
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Re: No increase in bus/mrt fare for kids

Postby 3Boys » Mon Feb 02, 2015 9:24 pm

jetsetter wrote:Is it really THAT bad? Read again.

Despite the hike, more than 1.1 million commuters will not see any changes in their fares. Senior citizen fares will remain the same, as will prices for existing travel concessions passes including student monthly concessions and the $120 adult monthly travel card.

Lower-wage workers and people with disabilities, who currently benefit from a Government travel discount scheme, will also not be affected by the fare hike.

Image

Image

Moreover...

1) SBS Transit and SMRT will have to contribute $5.5 million and $8 million respectively to the Public Transport Fund.

2) The Government will draw down $7.5 million from the fund to provide 250,000 vouchers of $30 each to low-income households.


Can only say I agree. I find the bashing uninformed and gratuitous and without reference to real actual impact.

3Boys
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Re: No increase in bus/mrt fare for kids

Postby jetsetter » Mon Feb 02, 2015 9:25 pm

3Boys wrote:
jetsetter wrote:Is it really THAT bad? Read again.

Despite the hike, more than 1.1 million commuters will not see any changes in their fares. Senior citizen fares will remain the same, as will prices for existing travel concessions passes including student monthly concessions and the $120 adult monthly travel card.

Lower-wage workers and people with disabilities, who currently benefit from a Government travel discount scheme, will also not be affected by the fare hike.

Image

Image

Moreover...

1) SBS Transit and SMRT will have to contribute $5.5 million and $8 million respectively to the Public Transport Fund.

2) The Government will draw down $7.5 million from the fund to provide 250,000 vouchers of $30 each to low-income households.


Can only say I agree. I find the bashing uninformed and gratuitous and without reference to real actual impact.


Yes...
Haha:)

jetsetter
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Re: No increase in bus/mrt fare for kids

Postby starlight1968sg » Mon Feb 02, 2015 9:30 pm

How to get the voucher?

starlight1968sg
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Re: No increase in bus/mrt fare for kids

Postby 3Boys » Mon Feb 02, 2015 9:58 pm

A back of envelope calculation will very quickly show that a family of 4 (2A + 2 school going children) my spend between $3-400 per month on transportation if they travel exclusively on public transport for work and school and weekend outings. Before we get into discussions about the poor amongst us Singaporeans, my question to those in KSP, is whether we honestly think that is an unreasonable amount to pay.

Yes, some of the poorer families may find that challenging, but they get a bunch of rebates and transfers to offset these costs. So why the sanctimony?

Just take a look at the SMRT annual report and see if you really think they are making massive profits.

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Re: No increase in bus/mrt fare for kids

Postby pirate » Tue Feb 03, 2015 12:18 am

The moral of the story is never put off any part of any price increase for this year to next year, because by next year everybody will forget that which was put off. And when you try to remind them what happened they will all pretend to be deaf and suffering from amnesia.

:razz:

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Re: No increase in bus/mrt fare for kids

Postby pirated » Tue Feb 03, 2015 1:55 am

pretend or not, people will forever remember that oil price has dropped from >US$100/barrel to <US$50/barrel and yet we have a fare increase, notwithstanding whatever rebates

as mentioned earlier, something is wrong with how they communicate

and right after announcing fare increase for next financial year, they reported hefty rise in profit - and this is for past quarter where price drop of oil not impacted yet - which shows that the previous fare increase had provided for the jump in profit. And now with increased profit level and with forward oil price half of previous years, they still want to increase fare - heck care which was held back from last year's increase (this is called "managing expectation" to try to look good) -- it only shows that it wasn't necessary at all to increase fare!

Affordability does not mean the increase is justified. The infrastructure has been paid by tax payers, not shareholders -- at least for the train system and the new buses.

To cite affordability to justify price increase is a manifestation of money sucking mentality, whether is public transport or public housing. Does the government exist to serve the people or to make money from the people ?

pirated
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Re: No increase in bus/mrt fare for kids

Postby pirated » Wed Feb 11, 2015 1:08 am

pirated wrote:Image

http://www.channelnewsasia.com/news/bus ... 49236.html

SBS Transit net profit rose 27.8% in 2014 on higher ridership, fares


SINGAPORE: Local bus and train operator SBS Transit posted a 27.8 per cent rise in 2014 net profit, helped by higher ridership and fares.

SBS Transit, Singapore's largest bus operator, said on Tuesday (10 Feb) it earned S$14.3 million in 2014, up from S$11.2 million in 2013, as revenue climbed 12.2 per cent to S$951 million.

Revenue from the bus segment rose 10.5 per cent to S$754 million, while revenue from the rail segment gained 19.5 per cent to S$197 million, boosted by the full year operation of the Downtown Line which raised ridership.

Average daily ridership on SBS buses increased by 3.2 per cent to 2.8 million passenger trips for 2014.

Looking ahead, SBS Transit said revenue is expected to be higher with higher ridership and higher average fare, citing the overall fare adjustment of 2.8 per cent approved by the Public Transport Council for bus and train fares that will take effect from Apr 5.

However, it added the outlook for bus and rail segments will continue to be challenging. "With headcount increases mainly from the build-up for Bus Service Enhancement Programme, Downtown Line 2 and salary adjustments, staff costs are expected to be higher. The continued renewal and expansion of the bus fleet is expected to result in higher depreciation and financing costs," it said.

SBS said its bus segment managed a 14.9 per cent rise in operating profit to S$12.3 million last year, helped by increases in average daily ridership and average fare, higher rental from shop renewals, increased advertising sales and other operating income.

But on its own, the core bus operation continued to suffer losses amounting to S$13.5 million in 2014.

- CNA/xk

pirated
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Re: No increase in bus/mrt fare for kids

Postby 3Boys » Thu Feb 12, 2015 12:58 pm

pirated wrote:SBS Transit, Singapore's largest bus operator, said on Tuesday (10 Feb) it earned S$14.3 million in 2014, up from S$11.2 million in 2013, as revenue climbed 12.2 per cent to S$951 million.
- CNA/xk


$14.3 million profit on a revenue of $951 million (1.5% margin)? How pathetic, barely breaking even. Thanks to pirated for the clarifying stats, very clearly showing that SBS are not profiteering.

3Boys
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Re: No increase in bus/mrt fare for kids

Postby Dreamaurora » Thu Feb 12, 2015 1:36 pm

3Boys wrote:
pirated wrote:SBS Transit, Singapore's largest bus operator, said on Tuesday (10 Feb) it earned S$14.3 million in 2014, up from S$11.2 million in 2013, as revenue climbed 12.2 per cent to S$951 million.
- CNA/xk


$14.3 million profit on a revenue of $951 million (1.5% margin)? How pathetic, barely breaking even. Thanks to pirated for the clarifying stats, very clearly showing that SBS are not profiteering.


I'm not sure how you derive the conclusion that SBS is not profiteering just because its profit margin is 1.5%. Even a lot of larger MNCs commonly have profit margin below 2%, some even having deficits.

That being said, SBS and SMRT first and foremost are public listed companies and their obligations first and foremost are to the shareholders. Companies are not obligated to bleed money to serve the community well; they are not charities. The Teh C I like to order Ya Kun has just recently increased to $2.00, but I do not complain. All I have to do is to ensure my income keeps up with the inflation.

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