Quote:
Originally Posted by skyleon
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 .
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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?