SBS TRANSIT POSTS RISE IN EARNINGS, CONSUMERS STILL FACE TRANSPORT HIKES

Dear A.S.S. Editor

SBS Transit has been reported as posting a 27% rise in net earnings in the first quarter of the year, which means they raked in $10.2 milllion on the back of better margins from bus contracting.

All the figures cited for the first three months for SBS Transit showed a healthy increase. While the company had said that operating costs will be higher with salary adjustments and increase headcount ahead of the opening of the Downtown Line 3, as well as repair and maintenance cost, this does not dilute the fact that in the first three months alone, their revenue has grown.

When times are bad, consumers are saddled with price increases to help pay for costs. Now, it seems like times are good. How come no price decrease for public transport, yet we hear of more price increase?

Michael Ang

A.S.S. Contributor

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