Chitchat Ownself answer ownself - transport fare hike

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1. What’s the fare increase for 2024, and why are fares going up?​

Fares will increase by 10 cents for adults who pay by card, and four cents for concession card holders, from Dec 28, translating to a 6 per cent increase in the cost of bus and train rides.

The 2024 adjustment was largely driven by core inflation and wage growth in 2023, but it was partially moderated by falling energy prices, said PTC.

The council has been limiting the fare increase to reduce the impact on commuters. In 2024, for instance, fares could have risen by up to 18.9 per cent, comprising a 3.3 per cent adjustment for the year and a 15.6 per cent hike rolled over from the 2023 exercise.

Cash fares, and the cost of adult monthly travel passes and concession passes, will stay unchanged.

2. Why do fares have to be adjusted yearly?​

Since 1998, public transport fares have been reviewed annually based on a fare formula.

This is to balance the need to keep the system financially sustainable, while ensuring that fare adjustments remain affordable, said PTC.

The fare formula accounts for changes in workers’ wages, energy costs and the operating costs of providing public transport services.

PTC needs to adjust fares every year so that they are brought in step with changes in operating costs. This keeps operators financially sustainable and enables them to provide reliable services, while paying their workers good wages.

3. How are fares determined?​

Yearly adjustments are derived from the fare formula, which is reviewed every five years so that it remains relevant and responsive to changes within the public transport sector and external environment.

It considers key cost factors in public transport, such as general operating, labour and energy costs.

In 2023, PTC adopted a new fare formula.

Besides taking into account year-on-year changes in core inflation, wages and energy prices, a key change was how it incorporates a fixed “capacity adjustment factor” of 1.1 per cent each year to account for costs related to expanding the system. This includes the improved connectivity and faster journey times arising from the opening of the Thomson-East Coast MRT Line, noted PTC. This fixed component is based on actual and planned capacity improvements to the network from 2020 to 2026.

The formula will apply till 2027.

 

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Does anyone know how much this guy is getting paid? Seems like AssMrt breakdown and got many issues leh.

Ngien Hoon Ping​

Group Chief Executive Officer​

Mr Ngien Hoon Ping is the Group Chief Executive Officer and Executive Director of SMRT Corporation Ltd. He is the Chairman of Strides Engineering Pte. Ltd., Strides International Business Pte. Ltd., Strides Taxi Pte. Ltd., Strides Far East Pte. Ltd., Stellar Experience Pte. Ltd., Momentum Venture Capital Pte. Ltd. and Strides Digital Pte. Ltd.. He is the Deputy Chairman of SMRT Buses Ltd. and Vice Chairman of Shenzhen Zona Transportation Group Co., Ltd. He is also a Director of SMRT Trains Ltd., Strides Holdings Ltd., SMRT TEL Pte. Ltd., SMRT RTS Pte. Ltd., SMRT Capital Pte. Ltd., Strides Automotive Services Pte. Ltd., BIS Motoring Pte. Ltd., Premier Automotive Services Pte. Ltd., Premier Land (East) Pte. Ltd., Premier Rent A Car Pte. Ltd. and Strides Premier Pte. Ltd..

Mr Ngien sits on the Board of Energy Market Authority (EMA) and Meranti Power Pte. Ltd. He also serves as a member of the National University of Singapore (NUS) Industrial Systems Engineering and Management (ISEM) Industry Advisory Board and EMA Audit and Risk Committee & Tender Committee.

Mr Ngien was the CEO of FairPrice Group's Supply Chain Business from September 2020 to June 2022. Prior to that, he was the Chief Executive of Singapore’s Land Transport Authority (LTA) from 2016 to 2020.

Before joining LTA, Mr Ngien served as Deputy Secretary (Performance) in the Ministry of Finance. Prior to this, Mr Ngien served for more than 15 years in the fields of maintenance, engineering, logistics and operations. He served as a member of the Institute of Technical Education’s Board of Governors (2009 to 2013) and as a Board member of the Singapore Examinations and Assessment Board (2012 to 2016), LTA (2014 to 2020) and the Urban Redevelopment Authority (2016 to 2021). He also served as a member in the Boards of ST Logistics, ST Electronics (Info-Software Systems) Pte. Ltd., ST Aerospace Supplies Pte Ltd and ST Logistics Pte. Ltd.

Mr Ngien holds a Bachelor in Engineering in Electronics and Electrical Engineering from the University of Manchester, United Kingdom. He also holds a Master of Science in Industrial and Systems Engineering from the National University of Singapore. He attended Executive Programmes at INSEAD and IMD. He is a Fellow of the Institute of Engineers. He was conferred the Public Administration Medal (Silver) (Military) in 2007 and was awarded the Public Administration Medal (Silver) in 2015.

 

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https://sg.news.yahoo.com/ngien-hoon-ping-third-consecutive-saf-man-smrt-ceo-070030116.html

Former Land Transport Authority chief Ngien Hoon Ping (left) will take over as SMRT group CEO from Neo Kian Hong (PHOTOS: SMRT)

SINGAPORE — Former Land Transport Authority (LTA) head and ex-Brigadier General with the Singapore Armed Forces (SAF) Ngien Hoon Ping has been appointed to become the SMRT Group chief executive officer (CEO) with effect from 1 August.

He is the third consecutive ex-SAF man to head the rail operator, after current CEO Neo Kian Hong and Desmond Kuek. Neo and Kuek are former Lieutenant-Generals who served as Chief of Defence Force.

Ngien, currently the head of FairPrice Group Supply Chain, will take over from Neo, who was appointed in August 2018 after a "global search". Neo will be advisor to Ngien till 31 October, SMRT said in a statement on Friday (18 March).
An electrical engineer by training, Ngien was LTA chief executive from 2016 to 2020. According to SMRT, he laid the foundation for a significant improvement in rail reliability and safety and led the delivery of infrastructure projects such as the Thomson-East Coast Line, Mandai Depot, and the new Lornie Highway.

Ngien also previously served as Deputy Secretary at the Ministry of Finance. He spent almost two decades at the Ministry of Defence and was formerly the director of Joint Operations at the SAF.

"Hoon Ping is well placed to lead SMRT forward in an era of disruption," said SMRT chair Seah Moon Ming. Seah also expressed his appreciation to Neo, who oversaw a "deepening of rail engineering capabilities and consistent delivery of high rail reliability".

Ngien paid tribute to Neo, saying that the reliability of the train system has consistently improved in the past four years under his leadership.

"With the strong foundation laid by the SMRT board and management, I look forward to joining the SMRT family and working with MOT, LTA and other stakeholders & partners to provide a safe, reliable and caring public transport service for our commuters,” Ngien said.

Neo said the leadership renewal for the next phase of SMRT’s journey is timely and that it was his honour to have worked with SMRT to improve its rail reliability.

"I am appreciative of the support from MOT and LTA, as well as the guidance from Chairman and Board. I am confident that Hoon Ping will take SMRT to greater heights,” Neo added.

SMRT's faulty track record​

The rumours of Neo's impending departure reportedly began as early as last December. It is unclear why he is stepping down.

Neo's four-year tenure when it ends in August is shorter than that of Kuek, who led SMRT for almost six years. He succeeded Kuek at a time when the rail operator had come under increasing pressure due to an increasing frequency of breakdowns, and two train accidents that separately killed two staff and injured 38 persons.

In 2017, Kuek alluded to “deep-seated cultural issues” at SMRT that impeded the process of instilling a positive work culture.

Asked by reporters about this in November 2018, Neo disagreed, but stressed the need to continually engage staff in order to have a sense of mission. “Based on my engagement, my experience is that our people want to do well. I’ve seen very enthusiastic people, very hardworking people, quite innovative people giving a lot of suggestions.”

 

[Franjipani]

All these SAF scholars are a JOKE.
Pay them super scale salaries to make ordinary sinkies pay higher and higher fares and more and more breakdowns.
Fuck PAP

 

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[Truthspeak]

All these SAF scholars are a JOKE.
Pay them super scale salaries to make ordinary sinkies pay higher and higher fares and more and more breakdowns.
Fuck PAP

Lee family needs loyal dogs to build their dynasty.
SAF creates the best platform for them