AssBAss & AssMRT Doing Roaring Biz Despite 22% Electricity Tariff Hike!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Nov 12, 2008
</TR><!-- headline one : start --><TR>SBS Transit profit falls 17% <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Elizabeth Wilmot
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SBS Transit expects its revenue from the bus and rail operations to continue to improve on the back of growth in ridership and fare increases. -- ST PHOTO: STEPHANIE YEOW
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<!-- START OF : div id="storytext"-->BUS and rail operator SBS Transit on Wednesday posted a 17 per cent slump in third quarter net profit to $8.3 million, as higher expenses such as fuel costs eroded stronger revenue.
Revenue for the period ended Sept 30 rose 10.5 per cent year-on-year to $188.2 million.
But operating costs went up 12 per cent to $178.3 million, with fuel and electricity expenses surging 51.9 per cent, or $17.7 million.

=> Due to?

Easily the best revenue growth was in the company's rental business, which shot up 94.5 per cent to $3.5 million due to higher rental income from new shops at the bus interchanges.
Turnover from rail operations also rose substantially by 17.3 per cent to $26.1 million, thanks to increase in ridership of the North-East Line and the light rail transit systems of 17.6 per cent and 16.1 per cent respectively.
Revenue growth from bus operations was a relatively modest 8.5 per cent, to $148.1 million. This was mainly due to a 6.1 per cent rise in bus ridership.
In terms of operating profits, bus operations declined a steep 78.2 per cent to $900,000 in the third quarter. This was mainly due to higher fuel cost.
In contrast, operating profits for rail operations surged 92.3 per cent to $2.2 million, mainly owing to higher rail fare revenue.
The advertising business saw a marginal drop in operating profit of 2 per cent to $4.4 million, while operating profits in the rental segment had increased by 71.2 per cent to $2.4 million.
SBS Transit expects its revenue from the bus and rail operations to continue to improve on the back of growth in ridership and fare increases. With the economic downturn, however, the firm expects advertising revenue to slow down.
The cost of diesel and electricity is expected to be lower due to the recent drop in oil prices.
Earnings per ordinary share for the third quarter was 2.70 cents, compared to 3.27 cents for the same quarter last year.
Net asset value as at Sept 30 was 80 cents, up from 77 cents at Dec 31, last year. SBS Transit's share price fell three cents to close at $1.69 on Wednesday.

 

[metalslug]

They bullshit one lah!!

 

[johnny333]

Didn't the increase fares a few months ago? If they are allowed to do that of course $$$. With the poor economy also have lots of car to public transport switchers & of course got many "new" Sporeans. They also using cheaper drivers.

 

[DIVISION1]

That is due to good business acumen.

 

[Neh_Neh_Pok]

That is due to good business acumen.

This is not good business acumen, it is more like dropping stones down the well for sinkies

 

[DIVISION1]

This is not good business acumen, it is more like dropping stones down the well for sinkies

Our government operates in fashion far too complex for the common Singaporean to understand. But the long term gains are certain.

 

[Neh_Neh_Pok]

Our government operates in fashion far too complex for the common Singaporean to understand. But the long term gains are certain.

How to be certain during this Financial Tsunami? Increase more and more? Why can't they do it in a slower fashion? Why do they need to be so fashionable? The trend keeps changing and not the majority population consumers can afford and/or keep up the trend

 

[halsey02]

That is due to good business acumen.

You studied economics?...how can a monoplist or oligopilist loose money?. Good business acumen, is when you have many competitors, & at all odds, you make extremely good profits.

How can it be good business acumen, when the business they are running, handled in a silver platter?

 

[DIVISION1]

PTC is around to monitor and regulate any unfair practices. Surveys are carried to ensure the best services are provided.

 

[NissanViP]

Our government operates in fashion far too complex for the common Singaporean to understand. But the long term gains are certain.

I'm sure you did it in "Fashion" way to LKY dickhead, and that is why you were promoted to blow his Ministers as well.

 

[johnny333]

That is due to good business acumen.

Obviously you don't know the difference between a business & gov't.

This is an unregulated monopoly providing essential services. There are costs to society each time they increase their profits.

 

[DerekLeung]

This is blatant exploitation !

Pubic survice should not be profiting so much since it is a public survice !

It's not doing so much in giving back to community !.

They are not paying well to bus drivers or staff !

Singaporeans are dumb commuters !

 

[johnny333]

Pubic survice should not be profiting so much since it is a public survice !

It's not doing so much in giving back to community !.

They are not paying well to bus drivers or staff !

Singaporeans are dumb commuters !

Many countries regulate these services but Spore gov't uses them to make super normal profits. Must be many millionaire executives in these companies. Shame on the PAP & supporters for allowing this to happen.


I met a Malaysian cab driver in KL who used to work as Spore bus driver. He quit for a better live in 3rd world Malaysia driving a cab.