AirAsia Q8501 - divers find more bodies, some strapped to their seats in the plane. Rest in peace.
"Bus, train rides to cost a few cents more from April - The Straits Times 22 January 2015
The revision is part of an overall 2.8 per cent rise in fares that the Public Transport Council announced yesterday.
Based on 2013 data alone, the fares would have been cut 0.6 per cent. But because 3.4 per cent of a 6.6 per cent rise approved last year was carried over to this year, the adjustment this year becomes a 2.8 per cent increase.
As before, it is based on a formula that takes into account changes in inflation rate, wages and an energy index that charts oil and electricity costs. The first two components are given a 40 per cent weighting each, while energy has a 20 per cent weighting.
A productivity extraction of 0.5 per cent is then deducted from the derived figure. This is to allow commuters to share in the transport operators' productivity gain.
But each will have to contribute to the Public Transport Fund to help needy families cope with the fare hikes. SBS Transit will have to contribute 25 per cent or $5.5 million of its $21.9 million revenue gain. SMRT Corp will have to give 30 per cent or $8 million of its $26.6 million foreseeable gain.
Council chairman Richard Magnus said the size of the clawback hinges on the firms' profitability."
MY TAKES on this unfortunate announcement are as follow:
This PTC's decision is NOT in the right direction!
At least NOT until it can HELP Singaporeans UNDERSTAND the following besides JUST touting the 'formula of inflation (40%), wages (40%) and energy index (20%)'':
1. how has the S$1.1B 'buy buses using taxpayers' money for public listed transportation companies, albert Temasek has a significant shares => Singaporeans gain too (??), BEEN spent? how much revenue has this generated and how much expensed? i.e. accountability of public funds!!;
2. has 'true COMPETITION' being introduced since it is MY belief, and that of established business people too, that COMPETITION will DRIVE service IMPROVEMENT and NOT just 'aye commuters, if you want better services, PLEASE PAY MORE!'?;
3. is Public Transportation a PUBLIC goods OR a private goods? IF it is a PUBLIC goods, then fina...ncing of some 'unprofitable routes' as the townships are NOT fully developed YET MUST be PAR! Over a long term the PROFIT, hopefully REASONABLE, will accrue!;
4. is it FAIR to look at SMRT and SBS so-called FARE-generation line of business (LOB) distinctly from the Real Estate LOB? Should we be looking at these companies' profitability as a WHOLE given that the FARE-generating LOB has a PUBLIC SERVICE element?;
5. WHAT is a 'reasonable FIXED Pay and Variable Pay' for the Senior Management and BOD of these 2 companies? IF their FIXED pay is more than 10x the lowest pay of its workers, SOMETHING is terribly WRONG!
As for Variable Pay, my principle has always been, IF it is self-funded from Profit AFTER setting aside money for Infrastructure Replacement (Sinking fund), I will be HAPPY if the Companies split the EXCESS with ALL their employees!
Without the WORKERS, the Management are NOTHING!! Seriously!
6. it is INCREDIBLE that there is YET another government FUNDED off-peak incentive!
WHY would the commuters TRAVEL during off-peak JUST because there is an INCENTIVE or government is PAYING some of it???
Do you think the elderly and those intended beneficiaries LIKE to travel on PUBLIC Transportation system for FUN?
8. WHEN does it become the PTC's charter to ENSURE that the 2 companies make a PROFIT when the Chairman said: "Council chairman Richard Magnus said the size of the clawback hinges on the firms' profitability."? This is MOST disturbing!;
9. my final point: it is lamentable that the PTC was NOT 'daring and forward looking' to say: Given that oil prices has PLUNGED and will stay that way for a while, we have RECOMMENDED a FORWARD rate reduction of 1%!!
THAT would have been revolutionary.
I rest my case!!
"Bus, train rides to cost a few cents more from April - The Straits Times 22 January 2015
The revision is part of an overall 2.8 per cent rise in fares that the Public Transport Council announced yesterday.
Based on 2013 data alone, the fares would have been cut 0.6 per cent. But because 3.4 per cent of a 6.6 per cent rise approved last year was carried over to this year, the adjustment this year becomes a 2.8 per cent increase.
As before, it is based on a formula that takes into account changes in inflation rate, wages and an energy index that charts oil and electricity costs. The first two components are given a 40 per cent weighting each, while energy has a 20 per cent weighting.
A productivity extraction of 0.5 per cent is then deducted from the derived figure. This is to allow commuters to share in the transport operators' productivity gain.
But each will have to contribute to the Public Transport Fund to help needy families cope with the fare hikes. SBS Transit will have to contribute 25 per cent or $5.5 million of its $21.9 million revenue gain. SMRT Corp will have to give 30 per cent or $8 million of its $26.6 million foreseeable gain.
Council chairman Richard Magnus said the size of the clawback hinges on the firms' profitability."
MY TAKES on this unfortunate announcement are as follow:
This PTC's decision is NOT in the right direction!
At least NOT until it can HELP Singaporeans UNDERSTAND the following besides JUST touting the 'formula of inflation (40%), wages (40%) and energy index (20%)'':
1. how has the S$1.1B 'buy buses using taxpayers' money for public listed transportation companies, albert Temasek has a significant shares => Singaporeans gain too (??), BEEN spent? how much revenue has this generated and how much expensed? i.e. accountability of public funds!!;
2. has 'true COMPETITION' being introduced since it is MY belief, and that of established business people too, that COMPETITION will DRIVE service IMPROVEMENT and NOT just 'aye commuters, if you want better services, PLEASE PAY MORE!'?;
3. is Public Transportation a PUBLIC goods OR a private goods? IF it is a PUBLIC goods, then fina...ncing of some 'unprofitable routes' as the townships are NOT fully developed YET MUST be PAR! Over a long term the PROFIT, hopefully REASONABLE, will accrue!;
4. is it FAIR to look at SMRT and SBS so-called FARE-generation line of business (LOB) distinctly from the Real Estate LOB? Should we be looking at these companies' profitability as a WHOLE given that the FARE-generating LOB has a PUBLIC SERVICE element?;
5. WHAT is a 'reasonable FIXED Pay and Variable Pay' for the Senior Management and BOD of these 2 companies? IF their FIXED pay is more than 10x the lowest pay of its workers, SOMETHING is terribly WRONG!
As for Variable Pay, my principle has always been, IF it is self-funded from Profit AFTER setting aside money for Infrastructure Replacement (Sinking fund), I will be HAPPY if the Companies split the EXCESS with ALL their employees!
Without the WORKERS, the Management are NOTHING!! Seriously!
6. it is INCREDIBLE that there is YET another government FUNDED off-peak incentive!
WHY would the commuters TRAVEL during off-peak JUST because there is an INCENTIVE or government is PAYING some of it???
Do you think the elderly and those intended beneficiaries LIKE to travel on PUBLIC Transportation system for FUN?
8. WHEN does it become the PTC's charter to ENSURE that the 2 companies make a PROFIT when the Chairman said: "Council chairman Richard Magnus said the size of the clawback hinges on the firms' profitability."? This is MOST disturbing!;
9. my final point: it is lamentable that the PTC was NOT 'daring and forward looking' to say: Given that oil prices has PLUNGED and will stay that way for a while, we have RECOMMENDED a FORWARD rate reduction of 1%!!
THAT would have been revolutionary.
I rest my case!!
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