SMRT operating assets to come under new rail financing framework from Oct 1
Posted 15 Jul 2016 14:34
SINGAPORE: More timely capacity expansion and higher maintenance standards for SMRT lines are in the pipeline with the transfer of SMRT's operating assets to the new rail financing framework, the Land Transport Authority (LTA) announced on Friday (Jul 15).
The transfer, which will happen on Oct 1 pending SMRT shareholders' approval, will see LTA pay the transport operator nearly S$1 billion for more than 60,000 assets, including trains and signalling systems. In turn, SMRT will pay a licence charge to operate the lines and earn revenue from them.
The rail financing framework, announced by the Government in 2008 and implemented for the SBS Transit-operated Downtown Line in 2011, will now be implemented for the SMRT-operated North-South, East-West and Circle lines and Bukit Panjang LRT.
SMRT and LTA have been in discussions for the transfer since 2011.
With the change, rail services will be more responsive to an increase in ridership, LTA said. The authority will be able to ensure that capacity expansion, as well as the replacement and upgrading of operating assets, are done in a timely fashion.
“Rail operators, relieved of heavy capital expenditure, can focus on providing reliable and well-maintained rail services for commuters,” LTA added.
Coordinating Minister for Infrastructure and Minister for Transport Khaw Boon Wan said the move to the new rail financing framework would benefit commuters. "It will allow LTA to add trains to respond more quickly to demand, and to replace and upgrade existing rail assets in a more timely manner. This should achieve the twin objectives of raising rail reliability and reducing crowdedness."
LTA might as well sack the entire management team of SMRT . LTA should take over the entire operations of the MRT network since it is obvious that the 2 private companies are not competent enough to operate the rail network . SMRT should only be allowed to operate the bus services .
You missed out many important points.
After 'making' 1 billion dollars, is desmond n smrt n shareholders going to reward themselves big big bonus for making so much money for the company? In the real world, the media etc will eye desmond 24/7 to prevent this. Spore media leh?
I bet all the assets are paid for n given by garbagement to smrt.
So why take 5 fcuking long years for left hand give to right hand transaction?
And in the real world, after stripping smrt of its assets, it means the company is worthless n desmond will b sacked very soon. Desmond should b updating his cv & cannot sleep
I already said garbagement is incompetent to operate smrt.
This is fcuking rubbish transaction. Lta certainly have zero competence to maintain trains better than smrt.
It simply means all technical staff will be shifted to Lta. So its still business as usual!! Fcuking waste time n money.
The one billion better go back in its entirety to garbagement n not reward anybody.
It also means the initial policy of letting smrt handle everything is a cock up. Will the cb media say this?
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Exchange points? You got miss the point ma?
With so many problems facing the mrt , the only benefits as a commuter I would like to see of the rail network is reliability ; efficient ; affordability ; safety and less crowded . No point come out with so many models but yet still unable to solve the initial problem . I don't recall hearing other countries having so many breakdowns.
You wait long long till your neck like giraffe la.
Everytime breakdown, garbagement got compensate commuters 1 million plus bo?
If Don't have, means They'll just let it breakdown la!
At the most, activate free bus rides or let ppl loiter in mrt stations. So no big loss to them, means more breakdown la!!
You think if breakdown twice a month till next elections, khaw will get voted out n garbagement lose votes?
Don't have la Becos sporeans are fcuking boji condemned losers. So more breakdowns Lo
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Exchange points? Wait long long
After 'making' 1 billion dollars, is desmond n smrt n shareholders going to reward themselves big big bonus for making so much money for the company? In the real world, the media etc will eye desmond 24/7 to prevent this. Spore media leh?
I bet all the assets are paid for n given by garbagement to smrt.
So why take 5 fcuking long years for left hand give to right hand transaction?
And in the real world, after stripping smrt of its assets, it means the company is worthless n desmond will b sacked very soon. Desmond should b updating his cv & cannot sleep
I already said garbagement is incompetent to operate smrt.
This is fcuking rubbish transaction. Lta certainly have zero competence to maintain trains better than smrt.
It simply means all technical staff will be shifted to Lta. So its still business as usual!! Fcuking waste time n money.
The one billion better go back in its entirety to garbagement n not reward anybody.
It also means the initial policy of letting smrt handle everything is a cock up. Will the cb media say this?
________________
Exchange points? You got miss the point ma?
CB media will do what they are paid to do ..... praise the government, LTA and SMRT
SMRT operating assets to come under new rail financing framework from Oct 1
Posted 15 Jul 2016 14:34
SINGAPORE:
The transfer, which will happen on Oct 1 pending SMRT shareholders' approval, will see LTA pay the transport operator nearly S$1 billion for more than 60,000 assets, including trains and signalling systems. In turn, SMRT will pay a licence charge to operate the lines and earn revenue from them.
I'm more interested where the $1 billion will go to
The truth is this whole deal is weird.
Where got parent give gift to child n then pay 1 billion to get it back?
Can smrt n desmond honestly say the assets was only worth 100 million n it appreciate to one billion thanks to smrt? Smrt dare to say that when so many breakdowns?
Why the fcuk can't garbagement retain ownership from the start n now don't need to waste one billion now??
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Exchange points weird ma?
I'm more interested where the $1 billion will go to
Use public money to give to Toomasake .... meaning donating money to the wife? Those fucking filthy rich bastards sure know of ways to siphon money from us