New rail financing framework will reward Temasek/SMRT at commuters’/taxpayers’ expense
On 15 July, the government finally announced it would be taking over all “SMRT’s operating assets” to allow SMRT to focus on improving its service levels. As to be expected, the well-prepared propaganda is being executed by the MSM to convince the public of this necessity. When SMRT said “SMRT will still shoulder significant...
Nationalisation may better reflect on SMRT’s role in society
I am sure that Desmond Quek, SMRT CEO will get a round of condemnation from social media by saying this: “Despite the steady increase in non-fare earnings, this trend of declining profitability is expected to persist under the current financing framework as the additional capital expenditure and increased depreciation would...
PAP gave you one drum stick, now collecting two chickens
After every GE, the first 3-4 years, you see massive hikes of various fees to recoup the drum stick they gave during GE. With the greedy Minister, you see car-park charges raised and proposed SnCC charges soon to be raised to better service lifts. To his hypocritical stand to keep Singapore car-lite, more COEs are being released. In...
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