SMRT should not disclose ‘fake’ statistics to fool Singaporeans

Like the government, SMRT is extremely desperate to increase revenue.

SMRT has now gone to the extent of disclosing ‘fake’ figures to hoodwink the public that fares need to be increased.

These are its key financial and operating data in a Today report:
1smrtdHowever, these figures contradict those in its FY2016 annual report (below), eg profit after tax and minority interest stood at $109.3 million, not $81 million.
1smrtaa
In the FY2016 annual report, revenue was broken down into ‘rail’ and ‘non-rail’.  In its latest disclosure, there was no breakdown.

If ‘revenue’ was referring to the total revenue, SMRT ought to explain the $485 million discrepancy, ie current FY2016 figure of $811 million vs $1296.6 million in its FY2016 annual report. (SMRT annual reports)

Has SMRT been broken up into different companies, ie rail and pow chiak retail business?

If not, SMRT should also disclose the performance of its other businesses.

Over to you SMRT.

This entry was posted in POLITICS, SMRT/SBS TRANSIT. Bookmark the permalink.

1 Response to SMRT should not disclose ‘fake’ statistics to fool Singaporeans

  1. Confused says:

    You are most likely correct.

    Remember when SMRT was taken in a reversed privatization exercise recently, it was mentioned that the G will make sure the Rail business will be guarantee 5% FAKE profit from our Tax $$ while no mention on the Non-Rail which we are know are profit making for years, for sure.

    So what SMRT want to address is to have FACE by earning their 5% by raising fare from the Public instead of from Tax $$ which is also tax $$, of course it makes them look more good if it is not a handout from Tax$$ as it would humiliate a CEO who taks home almost 10% of last $26m profit, what a good deal as he looks like the major shareholder of a PRIVATE but fully tax-funded company? If it were me, I don’t know where to hike my FACE, really.

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