SMRT Lost $ in China, But Blames SGs!

[makapaaa]

By Christopher Tan
The Straits Times
Thursday, Mar 28, 2013
"Increasing operating costs without corresponding fare adjustments have adversely affected the group's profitability," it said in a statement to the Singapore Exchange, adding that it is also registering a $17 million impairment of goodwill in Chinese associate Shenzhen Zona Transportation.
http://www.asiaone.com/News/AsiaOne+News/Business/Story/A1Story20130328-412107.html

 

[laksaboy]

Boo hoo, fuck you, your profits and your share dividends.

Not happy shut down the MRT stations lah!

 

[songsongpunggol]

What the fish is impairment of goodwill?

How the heck peasants know about the screwups?

And pass the losses to passengers?

 

[rodent2005]

Impairment of Goodwill suggests that one has over-paid for something.

 

[The_Hypocrite]

Why is SMRT involved in other countries operations when its own backyard is in a mess?

 

[cockie]

Those unless bumb will blame anyone other than themselves.... Than if kana question, the will take out black and white to CYA.....

All government agency work with this type of mentally.

 

[batman1]

What do u all expect from ex-dfs n ex-general as the CEO ?

 

[sickpuppy]

Please lah u all if they don't blame you all then blame who? Take the blame ah? Wait long long if they say its their fault then how to justify their million dollar income n bonuses?

 

[laksaboy]

Why is SMRT involved in other countries operations when its own backyard is in a mess?

Tap China market mah. 打进中国市场. A pot of gold awaits you at the end of the China rainbow.

Just ask NTUC Fairprice.

http://www.isoguide.com/Singlenews.aspx?DirID=126&rec_code=680426

Some analysts say the new joint venture may help mitigate the sting of FairPrice's failed venture, Nextmall, in China.

Tan Kian Chew, Group CEO of NTUC FairPrice and chairman of FairPrice International, said NTUC had previously explored overseas ventures in China and Myanmar. Due to various market conditions, those were not successful, he said.

Nextmall, FairPrice's first hypermarket venture, shut down in 2005 after racking up nearly $80 million in debts and more than $40 million in losses over the three years since it was formed.

NTUC FairPrice International wrote off the US$12 million it paid for its 33.7 per cent stake in Nextmall. DBS Nominees, understood to be representing DBS Private Equity, held a similar stake.

 

[The_Hypocrite]

provided the Chinese dont makan SMRT 1st. Look at how the Chinese turn the tables on soo many 'Investors'? Its more like pigs to the slaughter

 

[leetahbar]

all these so called glcs only know how to bully and intimidate sgporeans. put them abroad with their same kind of biz acumen, they lost their undies in short time. then they return home, bully daft sgporeans further by increasing fares. and what do we do? nothing.

 

[lesMISERABLES]

This is what happens when you have ex-army generals running SMRT. Have you ever come across our army generals blaming themselves for their mistakes?