SBS Transit have posted a 1.5% profit, as was reported in the Straits Times. But the company still announced that they expect maintenance cost amd staff cost to rise. What they did not say in fine print was that no matter how much profit they have made over the preceding year, the expected maintenance and rising cost can only mean one thing – cost for commuters will go up again.
This from a company that only just recently had a 7% fare hike. Yet they still said they are dogged by the rising costs, especially from their operation of the rail business. Less we forget, the government also pumps in billions of dollars into the company’s operation, to ensure a working transportation network in Singapore. And the company has in fact, been making profits every year.
And yet, it is still not enough. This is getting ridiculous. Which country in the world has a public transport system where the fares are hiked so frequently, and where the govt pumps in billions, and where the transport operators are actually making profits, and still the transport operators say is not enough?
We are talking about tens of billions of dollars poured into the transport system (including money for the transport operators to operate the buses, which is their main business). It is ridiculous.