SBS Transit, SMRT ask to raise bus and train fares


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deckard

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Oct 13, 2006
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Here we go again....

SINGAPORE: Both SBS Transit and SMRT have applied to the Public Transport Council to raise bus and train fares.

The exact fare increment will be determined later, using a standard formula, in this annual fare revision exercise.

Energy costs have been a big drain on the two big public transport operators.

Both companies have quoted rises of between 20 and 26 percent in this area alone.

SBS Transit said manpower costs – its single largest cost component – have also increased by about S$12 million during the year, while SMRT said it would lose about S$11 million due to increases in GST and employer's CPF contributions.

In making their applications to the Public Transport Council, both companies said they would not touch concession fares.

SMRT added that it would be asking for small increases in EZ-Link fares for buses, adult train EZ-link fares and longer single-trip train journeys.

This year's increment formula, which is linked to the performance of Singapore's economy, is capped at 1.8 percent, slightly higher than last year's 1.7 percent.

The formula was devised to ensure that there are small and regular increases, instead of big jumps every few years.

Both transport operators said they are mindful of how fare increases affect the lower income, so they would be considering funding schemes to offset the impact on any hike.

Separately, the government has announced that S$10 million has been set aside over three years to help the needy cope with fare increases.

The fare changes, if accepted by the Public Transport Council, will be announced next month and will kick in by October.


- CNA/so


This fare raising exercise arises more like habits than needs.

SBS Transit___________Year 2005_________Year 2006
Profit before Tax.............63.3 mil................ 67.3 mil
Profit After Tax...............51.1 mil................ 56.1 mil
http://www.sbstransit.com.sg/downloa...6_6MAR_ALL.pdf


SMRT________________Year 2005_________Year 2006
Profit before Tax.............83.9 mil................ 124.1 mil
Profit After Tax..............126.6 mil.................103.6 mil
http://www.smrt.com.sg/investors/doc...report2006.pdf

As public transport providers, do they really need this another round of fare increase to survive, or to add value to shareholders ?
 

wranger

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Mar 24, 2007
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#3
Expected with the GST increase. :bsmilie:
 

eow

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Jun 22, 2004
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#6
Farker!!!
 

alternatve

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Dec 30, 2006
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#7
I wonder why a public service, which is supposed to serve the public, is instead only interested in maintaining the bottom line?
 

raincool2005

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Sep 10, 2005
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#8
so sad, why our lives in this country is always being troubled by increase of this and that ?

we just want to live a simple happy life.. come on ! give us a break... ! :angry:
 

Reno

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Jan 22, 2005
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#10
sigh... they still have not fixed the bus roof leaking during raining day yet.... i getting so broke now....
 

Sjourn

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Aug 9, 2004
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#12
It's plain bullshit...they have been posting profit year after year. It's call profiteering at the right moment.
 

contaxable

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Mar 5, 2006
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#13
Not another hike! sigh...

These hikes will definitely drive up our blood pressures. Then hospital will have better biz.

Hope they start fixing up their vehicles for transport as some really cannot make it.

Well, honestly, it may be better for them to raise fare rather than to terminate routes. The last rounds of cost cutting (to raise profitablilty) was to terminate routes that dont make money. End up those old folks have to take cab as they cannot walk so far. They should not be called public service. They should be called profit slaves.
 

raincool2005

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Sep 10, 2005
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#14
It's plain bullshit...they have been posting profit year after year. It's call profiteering at the right moment.
if GST is the reason ? then what ? 1 dollar ticket added 2 cents ? ;( make sure it is 2 cents... and not 20 cents hor.. :sweat: like tat bowl of noodles 3 dollars become 3.50 :thumbsd:
 

Virgo

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Dec 23, 2003
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#15
Complain loh...still increase what!

The thing here is open market. If the government opens up this sector, these companies can go fly kite liao...
 

westwest2

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Jun 6, 2007
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#16
if GST is the reason ? then what ? 1 dollar ticket added 2 cents ? ;( make sure it is 2 cents... and not 20 cents hor.. :sweat: like tat bowl of noodles 3 dollars become 3.50 :thumbsd:
they have to make more profits to make sure they have more money...

but they refit old trains and bus...rather then getting new ones...then they might say reason is that new ones are too ex already...
 

westwest2

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Jun 6, 2007
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#17
Complain loh...still increase what!

The thing here is open market. If the government opens up this sector, these companies can go fly kite liao...
but these company belongs to the gov partly...complain also prices going up...look at NETS...CASE also step in...but prices still goes up...
 

raincool2005

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Sep 10, 2005
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#18
honestly speaking, do these companies deserve a fare hike ? has the issues in service level and safety concerns raised by the commuters being addressed ? :think:
 

datan

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May 30, 2007
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#19
honestly speaking, do these companies deserve a fare hike ? has the issues in service level and safety concerns raised by the commuters being addressed ? :think:
what safety concerns?
 

Apr 20, 2006
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#20
honestly speaking, do these companies deserve a fare hike ? has the issues in service level and safety concerns raised by the commuters being addressed ? :think:
I don't mind being charged more... but they must decrease the waiting time and over-crowding.
 

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