CCB MRT Makes RECORD PROFIT!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published January 24, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>SMRT Q3 profit rises 7.6% to $41.2m

By SAMUEL EE
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20></TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20></TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20></TD><TD>Feedback</TD></TR></TBODY></TABLE>
SMRT Corp continued to roll ahead of the general corporate doom and gloom by announcing a 7.6 per cent year-on-year rise in net profit to $41.2 million for its third quarter ended Dec 31, 2008.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD>BANKING ON COMMUTERS
SMRT says revenue from train and bus operations is expected to be higher in the fourth quarter compared with the previous corresponding period, due mainly to ridership growth</TD></TR></TBODY></TABLE>Group revenue in Q3 rose 8.4 per cent to $219 million, driven largely by higher train and bus ridership, as well as the rental and advertising business. But total operating expenses grew 9.8 per cent to $174.8 million because of increases in staff and energy costs, and other operating expenses.
Electricity and diesel costs had risen 35.1 per cent to $30.2 million in the third quarter. Q3 diesel prices have tapered off compared with the first two quarters but are still higher against the same period the year before.
Staff and related costs increased 4.2 per cent to $67.5 million because SMRT has been ramping up recruitment for the Circle Line since Q1. The new MRT line will become operational in the middle of this year. SMRT operates Singapore's biggest rail network, along with a smaller fleet of buses and taxis.
Average daily train ridership grew 8.4 per cent, boosting Q3 train operations revenue by 9.1 per cent to $119.7 million. Operating profits rose 6.3 per cent to $35.1 million.
Revenue from bus operations also improved by 6.3 per cent to $51.3 million on higher ridership too. But an operating loss of $1.2 million was recorded due to the increase in staff, and repair and maintenance costs.
A lower average hired-out fleet hurt taxi operations, with rental revenue declining 10.3 per cent to $17.4 million, and an operating loss of $226,000.
But engineering and other services saw revenue rise 17.9 per cent to $7.9 million in Q3, thanks to higher consultancy revenue from the Palm Jumeirah monorail project in Dubai. Operating profit grew to $1.1 million from $0.4 million in the previous corresponding quarter.
Earnings per share in Q3 rose from 2.5 cents to 2.7 cents year on year.
For the first nine months ended Dec 31, 2008, SMRT's net profit rose 7.2 per cent to $124.1 million. Year-to-date revenue was 11.5 per cent higher at $662 million. Earnings per share for the first nine months rose from 7.6 cents to 8.2 cents.
Looking ahead, SMRT said revenue from train and bus operations is expected to be higher in the fourth quarter compared with the previous corresponding period, due mainly to ridership growth. But the rate of growth will be lower than the first three quarters.
SMRT may also cut fares because of the difficult economic conditions. Yesterday, it and the dominant bus operator SBS Transit (SBST) announced that they would not be applying to the Public Transport Council for a fare revision this year
SBST, which also runs the North-east MRT Line and two LRTs, said it is 'looking to pass the savings it will receive from the 2009 Singapore Budget to commuters'. Under the current fare adjustment formula, the maximum fare increase would be 5 per cent.
SMRT will also pass on the Budget savings to commuters and taxi hirers, as well as donate an additional $300,000 to help needy commuters with their transport costs.
'In addition to not applying for any fare increase this year, SMRT will work closely with the Public Transport Council to pass on savings from the Budget to commuters by reducing train and bus fares,' said SMRT president and CEO Saw Phaik Hwa.
SMRT shares closed two cents lower at $1.59 yesterday.
</TD></TR></TBODY></TABLE>

 

[tonychat]

SMRT will also pass on the Budget savings to commuters and taxi hirers, as well as donate an additional $300,000 to help needy commuters with their transport costs

Once again , use big amount of money to give a perception that they are really helping. Let me give them a tip, Add one more Zero to the $300,000 and it will sure to look better.

 

[The_Latest_H]

Once again , use big amount of money to give a perception that they are really helping. Let me give them a tip, Add one more Zero to the $300,000 and it will sure to look better.

If there's 300,000 needly people, each person will only get $1 subsidy. Wouldn't it be too stingy?

I mean they just made $41m in profit. $300k is a mere drop in the bucket.

 

[imperialarms]

<div id="article">
<div id="article_body">
<h1 id="articlehed">Hong Kong Subway's Net Profit Up 44 Percent
</h1>
<div class="date_time"> <span style="margin-right: 20px;"><span id="contributor" class="c cs">By Alexander Lew</span> <a href="mailto:[email protected]">
<img src="http://blog.wired.com/images/icon_email.gif" alt="Email" /></a></span><span style="margin-right: 20px;">March 20, 2008 | 7:00:00 AM</span>Categories: <a href="http://blog.wired.com/cars/mass_transit/index.html" style="line-height: 13px; color: rgb(0, 124, 165);">Mass Transit</a>&nbsp;&nbsp;
</div>
</div>
</div>
<div class="entry-content">
<div id="article">
<div id="article_body">
<div id="article_text"><a href="http://blog.wired.com/.shared/image.html?/photos/uncategorized/2008/03/20/img_1131.jpg" onclick="window.open(this.href, '_blank', 'width=800,height=600,scrollbars=no,resizable=no,toolbar=no,directories=no,location=no,menubar=no,status=no,left=0,top=0'); return false">
<img alt="Img_1131" title="Img_1131" src="http://blog.wired.com/cars/images/2008/03/20/img_1131.jpg" style="margin: 0px 5px 5px 0px; float: left;" border="0" height="337" width="450" /></a> The <a href="http://www.mtr.com.hk/">MTR</a> subway of Hong Kong is completely the opposite of transit systems in the United States: it actually <a href="http://www.forbes.com/afxnewslimited/feeds/afx/2008/03/11/afx4756363.html">makes a profit</a>. The subway's underlying net profit, which excludes any changes in valuation of real estate properties, rose to 8.57 billion Hong Kong dollars (1.1 billion U.S. dollars) for 2007. A large chunk of MTR's profits comes from the developing and selling of real estate properties. MTR has built residential real estate surrounding train stations, selling 7 billion dollars worth of units last year. The construction of these flats, however, were accounted for in 2006 books, so the profits in 2008 are suspected to be less than the previous year. Ridership remains to be at a high for Hong Kong's subway. About 948 million rides (an increase of 8 percent) were taken last year. Now, the <a href="http://www.mtr.com.hk/eng/investrelation/patronage.php">newest figures</a> show that 3.5 million took the subway in February 2008, an increase of almost a million from last year's February count. This is truly amazing for a transit system, where gaining a profit is difficult.
</div>
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</div>
</div>

 

[imperialarms]

Tube Lines makes £73m pre-tax profit


By John Leitch

Tube Lines, the consortium responsible for the upgrade of the Jubilee, Northern and Piccadilly portion of the London Underground, has lifted its pre-tax profit to £73m.

The latest figure represents a profit margin of 8.5%.

Turnover in the 12-month period to 31 December 2007 ran to £860m.

Comparisons with the previous financial period are less simple than normal as it covered only the nine months to 31 March 2006. In that time, a pre-tax profit of £45m represented a margin of 6.9%.

During 2007 Tube Lines invested £430m which is more than double the sum spent in its first year of operation.

 

[darememore]

<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published January 24, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>SMRT Q3 profit rises 7.6% to $41.2m

By SAMUEL EE
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20></TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20></TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20></TD><TD>Feedback</TD></TR></TBODY></TABLE>
SMRT Corp continued to roll ahead of the general corporate doom and gloom by announcing a 7.6 per cent year-on-year rise in net profit to $41.2 million for its third quarter ended Dec 31, 2008.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD>BANKING ON COMMUTERS
SMRT says revenue from train and bus operations is expected to be higher in the fourth quarter compared with the previous corresponding period, due mainly to ridership growth</TD></TR></TBODY></TABLE>Group revenue in Q3 rose 8.4 per cent to $219 million, driven largely by higher train and bus ridership, as well as the rental and advertising business. But total operating expenses grew 9.8 per cent to $174.8 million because of increases in staff and energy costs, and other operating expenses.
Electricity and diesel costs had risen 35.1 per cent to $30.2 million in the third quarter. Q3 diesel prices have tapered off compared with the first two quarters but are still higher against the same period the year before.
Staff and related costs increased 4.2 per cent to $67.5 million because SMRT has been ramping up recruitment for the Circle Line since Q1. The new MRT line will become operational in the middle of this year. SMRT operates Singapore's biggest rail network, along with a smaller fleet of buses and taxis.
Average daily train ridership grew 8.4 per cent, boosting Q3 train operations revenue by 9.1 per cent to $119.7 million. Operating profits rose 6.3 per cent to $35.1 million.
Revenue from bus operations also improved by 6.3 per cent to $51.3 million on higher ridership too. But an operating loss of $1.2 million was recorded due to the increase in staff, and repair and maintenance costs.
A lower average hired-out fleet hurt taxi operations, with rental revenue declining 10.3 per cent to $17.4 million, and an operating loss of $226,000.
But engineering and other services saw revenue rise 17.9 per cent to $7.9 million in Q3, thanks to higher consultancy revenue from the Palm Jumeirah monorail project in Dubai. Operating profit grew to $1.1 million from $0.4 million in the previous corresponding quarter.
Earnings per share in Q3 rose from 2.5 cents to 2.7 cents year on year.
For the first nine months ended Dec 31, 2008, SMRT's net profit rose 7.2 per cent to $124.1 million. Year-to-date revenue was 11.5 per cent higher at $662 million. Earnings per share for the first nine months rose from 7.6 cents to 8.2 cents.
Looking ahead, SMRT said revenue from train and bus operations is expected to be higher in the fourth quarter compared with the previous corresponding period, due mainly to ridership growth. But the rate of growth will be lower than the first three quarters.
SMRT may also cut fares because of the difficult economic conditions. Yesterday, it and the dominant bus operator SBS Transit (SBST) announced that they would not be applying to the Public Transport Council for a fare revision this year
SBST, which also runs the North-east MRT Line and two LRTs, said it is 'looking to pass the savings it will receive from the 2009 Singapore Budget to commuters'. Under the current fare adjustment formula, the maximum fare increase would be 5 per cent.
SMRT will also pass on the Budget savings to commuters and taxi hirers, as well as donate an additional $300,000 to help needy commuters with their transport costs.
'In addition to not applying for any fare increase this year, SMRT will work closely with the Public Transport Council to pass on savings from the Budget to commuters by reducing train and bus fares,' said SMRT president and CEO Saw Phaik Hwa.
SMRT shares closed two cents lower at $1.59 yesterday.
</TD></TR></TBODY></TABLE>

$41,000,000 / 365 = $112,328.767 per day !Well done!
This is the result of one party system! vote for PAP!

 

[tonychat]

<div id="article">
<div id="article_body">
<h1 id="articlehed">Hong Kong Subway's Net Profit Up 44 Percent
</h1>
<div class="date_time"> <span style="margin-right: 20px;"><span id="contributor" class="c cs">By Alexander Lew</span> <a href="mailto:[email protected]">
<img src="http://blog.wired.com/images/icon_email.gif" alt="Email" /></a></span><span style="margin-right: 20px;">March 20, 2008 | 7:00:00 AM</span>Categories: <a href="http://blog.wired.com/cars/mass_transit/index.html" style="line-height: 13px; color: rgb(0, 124, 165);">Mass Transit</a>&nbsp;&nbsp;
</div>
</div>
</div>
<div class="entry-content">
<div id="article">
<div id="article_body">
<div id="article_text"><a href="http://blog.wired.com/.shared/image.html?/photos/uncategorized/2008/03/20/img_1131.jpg" onclick="window.open(this.href, '_blank', 'width=800,height=600,scrollbars=no,resizable=no,toolbar=no,directories=no,location=no,menubar=no,status=no,left=0,top=0'); return false">
<img alt="Img_1131" title="Img_1131" src="http://blog.wired.com/cars/images/2008/03/20/img_1131.jpg" style="margin: 0px 5px 5px 0px; float: left;" border="0" height="337" width="450" /></a> The <a href="http://www.mtr.com.hk/">MTR</a> subway of Hong Kong is completely the opposite of transit systems in the United States: it actually <a href="http://www.forbes.com/afxnewslimited/feeds/afx/2008/03/11/afx4756363.html">makes a profit</a>. The subway's underlying net profit, which excludes any changes in valuation of real estate properties, rose to 8.57 billion Hong Kong dollars (1.1 billion U.S. dollars) for 2007. A large chunk of MTR's profits comes from the developing and selling of real estate properties. MTR has built residential real estate surrounding train stations, selling 7 billion dollars worth of units last year. The construction of these flats, however, were accounted for in 2006 books, so the profits in 2008 are suspected to be less than the previous year. Ridership remains to be at a high for Hong Kong's subway. About 948 million rides (an increase of 8 percent) were taken last year. Now, the <a href="http://www.mtr.com.hk/eng/investrelation/patronage.php">newest figures</a> show that 3.5 million took the subway in February 2008, an increase of almost a million from last year's February count. This is truly amazing for a transit system, where gaining a profit is difficult.
</div>
</div>
</div>
</div>

Let me highlight this. IN other countries, transport system is not for profit, in fact they can't earn. Some wise man told me that in 1999 when i was learning how to do sales.

 

[dysentry]

I urge the SMRT to continuously innovate and strive to improve shareholder returns. Well done SMRT !

 

[kuntakinte]

Somebody please tell me that Transport hike is not linked or peg to oil prices !!

 

[prince123456]

i missed singapore during the 80s and 90s ... haizzz:(

 

[silverfox@]

Once again , use big amount of money to give a perception that they are really helping. Let me give them a tip, Add one more Zero to the $300,000 and it will sure to look better.

If put $3million, you will say again put 1 more zero will look better.

Have you found the bone in the egg?

 

[silverfox@]

If there's 300,000 needly people, each person will only get $1 subsidy. Wouldn't it be too stingy?

I mean they just made $41m in profit. $300k is a mere drop in the bucket.

No matter how much, it will never be enough.