Rayomd Lim: Fare hike nothing to do with oil price

[myfoot123]

Con News Asia: Raymond lim visited residents who requested for reduction in transport fares due to plunging oil price, or at least return some profit earned by operators to passenger by not increasing the fares.

However Raymond Lim treated residents like moron and said the previous fare hikes have nothing to do with oil. It has to do with quality and efficiency of transport services.

Did I not hear wrongly that every time when there are Transport fares increase, that Conman Lim will said due to HIIGH OPERATIONS COSTS. So oil price is not part of operation costs?

We Singaporean are cheated again!

 

[DOM the Clown]

Con News Asia: Raymond lim visited residents who requested for reduction in transport fares due to plunging oil price, or at least return some profit earned by operators to passenger by not increasing the fares.

However Raymond Lim treated residents like moron and said the previous fare hikes have nothing to do with oil. It has to do with quality and efficiency of transport services.

Did I not hear wrongly that every time when there are Transport fares increase, that Conman Lim will said due to HIIGH OPERATIONS COSTS. So oil price is not part of operation costs?

We Singaporean are cheated again!

To Raymond Lim: :oIo:

 

[makapaaa]

http://sgtransport.blogspot.com/2007/03/three-months-of-cheaper-bus-and-train.html

1.8% cap on any bus, train fare hike this year
Christopher Tan, Senior Correspondent

ANY decision this year on raising bus and train fares will be known only in August at the earliest, instead of the usual May announcement in previous years.
And if the Public Transport Council (PTC) approves an increase, fares will go up by 1.8 per cent at the most, a spokesman for the council told The Straits Times.
For most commuters, this could mean an increase similar to last year's one- to three-cent hike, when the cap on fare increase was set at 1.7 per cent.
The new deadline and the cap on how high fares can go are the result of a change in the formula adopted by the PTC last year to work out bus and train fare increases.
Traditionally, SBS Transit and SMRT submit their applications by May 1, and revisions take effect in July.
But last year, because the PTC was busy adapting to new regulatory powers, the fare adjustment exercise was delayed by three months.
It has decided to stick with the new deadline.
'Operators will have till August to apply. Henceforth, all adjustments will be from October,' the PTC spokesman added.
As for the 1.8 per cent cap this year, it is based on a formula that takes into account current economic conditions, average wage increases as well as productivity gains of the public transport companies. It also allows fares to be lowered when the economy is in deep recession.
Both operators declined to say if they will ask for a fare increase, but it remains to be seen whether the planned two-percentage-point rise in goods and services tax (GST) in July will influence the decision.
A two-point rise in GST to 7 per cent translates to about $22 million in additional cost to the two operators.
Singapore introduced GST in 1994, starting with a 3 per cent levy. It was raised to 4 per cent in 2003, and 5 per cent in 2004.
Although GST was never passed on directly to public transport commuters, it is computed indirectly in the fare adjustment formula, which takes inflation - represented by the Consumer Price Index - into consideration.
SMRT spokesman Goh Chee Kong said: 'The fare adjustment formula takes care of wage increases, Consumer Price Index and productivity. So any increase in GST will be accounted for in the Consumer Price Index.''
In the past two years, the operators cited higher oil prices as the main justification for a fare rise.
A senior transport analyst said GST had never been fully passed on to commuters, but added that 'the formula will prevail because we are not in a deflationary economy'.
Source: The Straits Times, 23 March 2007

 

[myfoot123]

http://sgtransport.blogspot.com/2007/03/three-months-of-cheaper-bus-and-train.html

1.8% cap on any bus, train fare hike this year
Christopher Tan, Senior Correspondent
.
As for the 1.8 per cent cap this year, it is based on a formula that takes into account current economic conditions, average wage increases as well as productivity gains of the public transport companies. It also allows fares to be lowered when the economy is in deep recession. Source: The Straits Times, 23 March 2007

Wow!!! that means fare reduction is fully justified based on the stated reasons?

 

[Einfield]

The transport company shoud have a cap on their profit, not a cap on the fare hike.

We understand one cannot sustain a loss making business but transport companies should not be treated as purely a profit making corporation as it is providing critical public sercvices.

So the more obsene profit they make, the worse of will be for the public. You don't need a first class degree in Maths to understand that.

 

[makapaaa]

The transport company shoud have a cap on their profit, not a cap on the fare hike.

We understand one cannot sustain a loss making business but transport companies should not be treated as purely a profit making corporation as it is providing critical public sercvices.

So the more obsene profit they make, the worse of will be for the public. You don't need a first class degree in Maths to understand that.

Neh! I dare u to rebel against my Familee!​

 

[mscitw]

Minion Lim is doing well, telling off old peasants who wants lower fares and making sure his chums in transport sector earn super normal profits.

Only in peasantpore.

 

[Einfield]

Neh! I dare u to rebel against my Familee!​

You are your own biggest enemy, no need for any rebel.

 

[chinkangkor]

Are the transport companies expecting the foreigners population to shrink drastically next year? If so, this could be a reason why transport companies aren't willing to lower fares.

Lower passengers volume will certainly reduce transport companies profitability.

 

[Cestbon]

PM LHL and transport minister eat shit. NOw with the electricity and fuel price down but still not lower the fare.
Electricity price down 25% next month and fuel price down about 30% from the peak and the fare price still not down. Now they try to lies about the truth.

 

[manx007]

Like i always said they cannot give a good reason to justify the things they done. Took us for moron by giving us stupid reasoning. If really this is the way how high level personnel works, than anyone can do the job without any glamorous qualification. They lose a tiny vote from me forever.

 

[makapaaa]

The oil price drop from peak is 80%!

 

[chinkangkor]

Just heard from the news. Raymond said transport companies need to build up reserves for capital expenditure.

Then why SMRT gave out so much dividends to shareholders, of which Temasek is the largest of all?

 

[Cestbon]

Raymand better stay at home after give stupid and lies comment about public transport fare.
If go out sure kena hit by egg.

 

[makapaaa]

 

[jixiaolan]

The transport company shoud have a cap on their profit, not a cap on the fare hike.

We understand one cannot sustain a loss making business but transport companies should not be treated as purely a profit making corporation as it is providing critical public sercvices.

So the more obsene profit they make, the worse of will be for the public. You don't need a first class degree in Maths to understand that.

You must be mad to suggest putting a cap on profit for listed companies. :p

 

[Kuailan]

Con News Asia: Raymond lim visited residents who requested for reduction in transport fares due to plunging oil price, or at least return some profit earned by operators to passenger by not increasing the fares.

However Raymond Lim treated residents like moron and said the previous fare hikes have nothing to do with oil. It has to do with quality and efficiency of transport services.

Did I not hear wrongly that every time when there are Transport fares increase, that Conman Lim will said due to HIIGH OPERATIONS COSTS. So oil price is not part of operation costs?

We Singaporean are cheated again!

Give his job to a Secondary school boy he can run the LTA i bet you, very easy, just install more ERP place where there's jam, now got the chic to say its not related to oil price, I remember the last when oil hit the roof they boldly say due to high oil price to increase fare. Now he the say the reverse, now I know who speak with fork tongue!

 

[myfoot123]

Raymond said transport companies need to build up reserves for capital expenditure.

Now, now, were they involved in structured bonds and loss million of dollars like the TC? How come nobody asked that question in parliament.

 

[chinkangkor]

Now, now, were they involved in structured bonds and loss million of dollars like the TC? How come nobody asked that question in parliament.

Good question!

Did the transport companies lost big in their investments? If no disclosure is forthcoming, we will need to wait for their next annual reports.

 

[chinkangkor]

We should be throwing parangs and daggers at these top PAP idiots who claim to be worth a few millions a year in salaries.