Unbiased write-up on the SMRT cock-ups
- Thread starter DrK
- Start date
Re: Unbiased write-up on the SMRT cock-ups
Diary of A Singaporean Mind: MRT breakdown and what is wrong with our transport system....
Diary of A Singaporean Mind: MRT breakdown and what is wrong with our transport system....
Re: Unbiased write-up on the SMRT cock-ups
guess the writer can't be bothered with "Minister LIU"....haha....can't even get his surname correct.....true, not just Saw at fault....its the whole freaking management and ops, just that sway sway she is like a figure 11 targetboard.
was reading somewhere that SMRT profit up from 60+mil to 120+ mil after she joined.
so how much was actually spent on maintenance and repairs??
kenntona;718701 said:
guess the writer can't be bothered with "Minister LIU"....haha....can't even get his surname correct.....true, not just Saw at fault....its the whole freaking management and ops, just that sway sway she is like a figure 11 targetboard.
was reading somewhere that SMRT profit up from 60+mil to 120+ mil after she joined.
so how much was actually spent on maintenance and repairs??
ipoh-horfun
Well-Known Member
Re: Unbiased write-up on the SMRT cock-ups
anyone seen this ? i saw on friend FB..
anyone seen this ? i saw on friend FB..
Re: Unbiased write-up on the SMRT cock-ups
A picture paints a thousand words..It takes 8 young guys to satisfy her lust...
On serious note: Someone must look at the current MRT/Rail design.....
The train is carrying heavier payload (Pack like sardines) as compared to 5 or 10 years ago and also accelarating and decelerating faster and travelling at higher speed as compared to original design specs. This may need some design improvement in the power-line transmission from the rail to the train or in the short term warrant higher frequency of maintenance...
Without having the full knowledge of the current design, I cannot comment much but there is something really wrong mechanically with so many trains/rails being damaged...
A picture paints a thousand words..It takes 8 young guys to satisfy her lust...
On serious note: Someone must look at the current MRT/Rail design.....
The train is carrying heavier payload (Pack like sardines) as compared to 5 or 10 years ago and also accelarating and decelerating faster and travelling at higher speed as compared to original design specs. This may need some design improvement in the power-line transmission from the rail to the train or in the short term warrant higher frequency of maintenance...
Without having the full knowledge of the current design, I cannot comment much but there is something really wrong mechanically with so many trains/rails being damaged...
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Re: Unbiased write-up on the SMRT cock-ups
Written by Ng E-Jay
20 December 2011
The defects in our train systems are systemic in nature, and it would take a great deal of effort, resources and political will to get them fixed. Our engineering designs, the hardware, and the emergency procedures have all gone haywire.
What has gone wrong? Why is it that the whole apparatus and infrastructure seem to be tumbling down? The answer might lie deep within the corporatist system that has been created by the government, in which SMRT and LTA operate.
To begin with, SMRT does not just operate the train system. Its corporate portfolio includes buses, taxis, retail outlets, advertisement hosting, leasing of media spaces, provision of repair services, and provision of engineering expertise to other transport operators, both local and overseas.
SMRT is a publicly listed company. It was incorporated into the Singapore Stock Exchange in the year 2000, and is majority owned by Temasek Holdings (stake: 54%). SMRT enjoys an annual turnover of nearly S$700 million and has total assets worth more than S$1.4 billion.
SMRT manages the train system and is responsible for the maintenance, operation, repair and security of the train network.
However, SMRT does not build or own the physical infrastructure within which its trains operate. The physical infrastructure is built, owned, and maintained by LTA using taxpayer dollars. SMRT leases the physical apparatus from LTA in order to run the train system. Only the rolling stock and detachable assets belong to SMRT.
However, as has been noted, SMRT does not just operate the train network. SMRT also creates and leases out retail outlets within the MRT premises. The company also engages in marketing and leasing of advertising spaces. Both advertisements and leasing of retail outlets earn a considerable profit for SMRT.
Here’s the kicker: the physical infrastructure is built and maintained by LTA using taxpayer dollars, but the revenue generated from SMRT’s advertisement and leasing operations accrue to its own bottom line.
When SMRT’s profit grows, it pays an increasing dividend to shareholders, the largest of which is Temasek Holdings. Temasek Holdings does not return this growing profit pie to Singaporeans. It hordes the profit away in external reserves or otherwise invests the money at its own discretion, without needing to account to the electorate.
When SMRT meets certain Key Performance Indicators (KPIs), the Board of Directors pay its CEO and other high ranking staff a handsome salary, in the millions. Let me be clear about this: at no time is the profit returned to Singaporean taxpayers, whose dollars were used to construct and maintain the physical infrastructure.
With such a diverse portfolio of business operations, has SMRT become too distracted, such that its President and CEO Ms Saw Phaik Hwa, as well as other managers, have lost sight of the really critical issues, such as public safety, reliability of the train system, and emergency procedures in the event of a breakdown or sabotage?
SMRT has turned the train stations into profit centres that cater not just to commuters, but to a whole host of businesses and commercial enterprises. It is lucrative, no doubt. But given the apparent lack of attention paid to issues like train reliability and robustness, perhaps its time for SMRT to go back to basics and re-focus on its core responsibilities to all Singaporeans commuters — providing a safe, reliable and efficient train network.
Like housing, utilities, and the cost of living, public transport is a politically sensitive facet of the Singaporean way of life. The government has made a very critical mistake, in allowing such a political powder keg to be quasi-privatized in a way that systemic problems are allowed to fester beneath the surface, only to erupt in a spectacular fashion from time to time.
As SMRT is being run as a private enterprise focussed primarily on its own bottom line, there is insufficient incentive given to the company to focus on quality, security, reliability and sustainability. In the end, it is the commuter who suffers.
With the view of maximizing shareholder returns, SMRT has possibly been outsourcing its engineering contracts to the lowest bidder, choosing engineering solutions and maintenance procedures that cost the least. Over time, is it any wonder why the train system has broken down more and more often? Does SMRT have any sense of moral responsibility and awareness of its deep moral obligations to the general public?
It is not only public transport that has been manipulated, quasi-privatized, and turned into a private profit centre at the expense of citizens. Telecommunications, public utilities, public housing, all have met a similar fate to some degree or other. Now, is there any wonder why the whole edifice seems to be crumbling into the ocean right before our very eyes?
What has gone wrong with SMRT, LTA, and the entire system | Sgpolitics.net
Written by Ng E-Jay
20 December 2011
The defects in our train systems are systemic in nature, and it would take a great deal of effort, resources and political will to get them fixed. Our engineering designs, the hardware, and the emergency procedures have all gone haywire.
What has gone wrong? Why is it that the whole apparatus and infrastructure seem to be tumbling down? The answer might lie deep within the corporatist system that has been created by the government, in which SMRT and LTA operate.
To begin with, SMRT does not just operate the train system. Its corporate portfolio includes buses, taxis, retail outlets, advertisement hosting, leasing of media spaces, provision of repair services, and provision of engineering expertise to other transport operators, both local and overseas.
SMRT is a publicly listed company. It was incorporated into the Singapore Stock Exchange in the year 2000, and is majority owned by Temasek Holdings (stake: 54%). SMRT enjoys an annual turnover of nearly S$700 million and has total assets worth more than S$1.4 billion.
SMRT manages the train system and is responsible for the maintenance, operation, repair and security of the train network.
However, SMRT does not build or own the physical infrastructure within which its trains operate. The physical infrastructure is built, owned, and maintained by LTA using taxpayer dollars. SMRT leases the physical apparatus from LTA in order to run the train system. Only the rolling stock and detachable assets belong to SMRT.
However, as has been noted, SMRT does not just operate the train network. SMRT also creates and leases out retail outlets within the MRT premises. The company also engages in marketing and leasing of advertising spaces. Both advertisements and leasing of retail outlets earn a considerable profit for SMRT.
Here’s the kicker: the physical infrastructure is built and maintained by LTA using taxpayer dollars, but the revenue generated from SMRT’s advertisement and leasing operations accrue to its own bottom line.
When SMRT’s profit grows, it pays an increasing dividend to shareholders, the largest of which is Temasek Holdings. Temasek Holdings does not return this growing profit pie to Singaporeans. It hordes the profit away in external reserves or otherwise invests the money at its own discretion, without needing to account to the electorate.
When SMRT meets certain Key Performance Indicators (KPIs), the Board of Directors pay its CEO and other high ranking staff a handsome salary, in the millions. Let me be clear about this: at no time is the profit returned to Singaporean taxpayers, whose dollars were used to construct and maintain the physical infrastructure.
With such a diverse portfolio of business operations, has SMRT become too distracted, such that its President and CEO Ms Saw Phaik Hwa, as well as other managers, have lost sight of the really critical issues, such as public safety, reliability of the train system, and emergency procedures in the event of a breakdown or sabotage?
SMRT has turned the train stations into profit centres that cater not just to commuters, but to a whole host of businesses and commercial enterprises. It is lucrative, no doubt. But given the apparent lack of attention paid to issues like train reliability and robustness, perhaps its time for SMRT to go back to basics and re-focus on its core responsibilities to all Singaporeans commuters — providing a safe, reliable and efficient train network.
Like housing, utilities, and the cost of living, public transport is a politically sensitive facet of the Singaporean way of life. The government has made a very critical mistake, in allowing such a political powder keg to be quasi-privatized in a way that systemic problems are allowed to fester beneath the surface, only to erupt in a spectacular fashion from time to time.
As SMRT is being run as a private enterprise focussed primarily on its own bottom line, there is insufficient incentive given to the company to focus on quality, security, reliability and sustainability. In the end, it is the commuter who suffers.
With the view of maximizing shareholder returns, SMRT has possibly been outsourcing its engineering contracts to the lowest bidder, choosing engineering solutions and maintenance procedures that cost the least. Over time, is it any wonder why the train system has broken down more and more often? Does SMRT have any sense of moral responsibility and awareness of its deep moral obligations to the general public?
It is not only public transport that has been manipulated, quasi-privatized, and turned into a private profit centre at the expense of citizens. Telecommunications, public utilities, public housing, all have met a similar fate to some degree or other. Now, is there any wonder why the whole edifice seems to be crumbling into the ocean right before our very eyes?
What has gone wrong with SMRT, LTA, and the entire system | Sgpolitics.net
DrK
Well-Known Member
Re: Unbiased write-up on the SMRT cock-ups
This good article sums it all - the failure of Singapore Inc. The govt can't sweep all these rampant problems under the carpets no more. First was housing (HDB rides the property bubble and ordinary citizens are priced out of market), then utilities (getting more expensive), and telecommunication (disruptions from singtel and duopoly market manipulation from Singtel/Starhub - remember the expensive world cup channel we need to pay? MiO TV shows some sports event while starhub shows other?) and finally transportation woos as we are seeing to unfold now.
In modern economics, privatisation of public entities in many developed countries is a way of distributing wealth back to the public. Citizens and investors can own the shares and decide what should be done for the best for shareholders and end-users. These two parties must strike a beautiful balance or else share price will suffer etc. In finance, we call this agency theory. Now, if a govt tries to be keh-kiang and bring in its sovereign funds to be the largest shareholder in these 'privatised' firms, there will be conflict of interest among this shareholder and the minority shareholders. This becomes what we called moral hazard. To make things worse, transportation, utilities, telco etc are public goods. A monopolised industry which is privatised will never be good for the public interests. This is how we are ending up today - restricted in choices, no say in alternative goods, keep paying more and more because we still need to use these public goods and getting really frustrated when things keep breaking down.
I remember vividly there were questions around why a sovereign fund like Tem is the largest shareholder of Singtel when it was privatised in the 90s. The govt response was that it did not want a local entity to fall into ownership of foreign hands. It sounds fair enough then. But no. This was the start of the govt devious plan to transfer financial burden to public and wealth from public into its own pocket. Staying nationalised would have burnt a big hole in the govt pocket. Why not let the dork citizens pay and still enjoy the benefit of non-transferable wealth?
No single country operates like the Singapore Inc. No other country covers up privatisation in sheep's clothing like Singapore govt does. This is pathetic and it is deplorable that the govt thinks that majority of us are too uneducated and helpless to see through its conspiracy theories.
kenntona;718941 said:
This good article sums it all - the failure of Singapore Inc. The govt can't sweep all these rampant problems under the carpets no more. First was housing (HDB rides the property bubble and ordinary citizens are priced out of market), then utilities (getting more expensive), and telecommunication (disruptions from singtel and duopoly market manipulation from Singtel/Starhub - remember the expensive world cup channel we need to pay? MiO TV shows some sports event while starhub shows other?) and finally transportation woos as we are seeing to unfold now.
In modern economics, privatisation of public entities in many developed countries is a way of distributing wealth back to the public. Citizens and investors can own the shares and decide what should be done for the best for shareholders and end-users. These two parties must strike a beautiful balance or else share price will suffer etc. In finance, we call this agency theory. Now, if a govt tries to be keh-kiang and bring in its sovereign funds to be the largest shareholder in these 'privatised' firms, there will be conflict of interest among this shareholder and the minority shareholders. This becomes what we called moral hazard. To make things worse, transportation, utilities, telco etc are public goods. A monopolised industry which is privatised will never be good for the public interests. This is how we are ending up today - restricted in choices, no say in alternative goods, keep paying more and more because we still need to use these public goods and getting really frustrated when things keep breaking down.
I remember vividly there were questions around why a sovereign fund like Tem is the largest shareholder of Singtel when it was privatised in the 90s. The govt response was that it did not want a local entity to fall into ownership of foreign hands. It sounds fair enough then. But no. This was the start of the govt devious plan to transfer financial burden to public and wealth from public into its own pocket. Staying nationalised would have burnt a big hole in the govt pocket. Why not let the dork citizens pay and still enjoy the benefit of non-transferable wealth?
No single country operates like the Singapore Inc. No other country covers up privatisation in sheep's clothing like Singapore govt does. This is pathetic and it is deplorable that the govt thinks that majority of us are too uneducated and helpless to see through its conspiracy theories.
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Re: Unbiased write-up on the SMRT cock-ups
A chunk of the 60.1% are not taking MRT or public transport, so will just rant and rant and come 2016 GE, will still vote the Lightning Squad in because "oh ERP works cause lesser cars now...."
Mockngbrd said:
A chunk of the 60.1% are not taking MRT or public transport, so will just rant and rant and come 2016 GE, will still vote the Lightning Squad in because "oh ERP works cause lesser cars now...."
Dinosaur hunter
Well-Known Member
Re: Unbiased write-up on the SMRT cock-ups
I believe more will wake up after more and more "dirt" being uncovered.
kenntona;719092 said:
I believe more will wake up after more and more "dirt" being uncovered.
Dinosaur hunter
Well-Known Member
Re: Unbiased write-up on the SMRT cock-ups
Wtf.....
need Horfun to post another 100 sexy pictures . . . .
Mockngbrd;719179 said:Do you have a girlfriend?
Wtf.....
need Horfun to post another 100 sexy pictures . . . .
