17 Dec '11, 5pm

[TOC] The story of SMRT is the story of Singapore

[TOC] The story of SMRT is the story of Singapore

“This is the reason why the profits of the two operators have risen manifold since 2003. In 2003, SMRT’s profit was $72 million, as at 31 March 2011, SMRT’s net-profit was $161.1 million. Comfort DelGro’s profit in 2003 was $134 million, its net-profit was $228.5 million, as at 31 December 2010. Despite these high incomes, generated by the PTO, PTC has never not approved applications for fare adjustments by the PTO. PTC has been heavily criticised repeatedly because of this and also because the regulator is perceived to be more pro-PTO than pro-commuters. For example, commuters who do not pay the correct fare on public transports, will be fined S$20, while those who abuse concession cards face a penalty of S$50. An additional penalty of S$1,000 will be imposed if the cheating commuter does not pay the fine; and repeat offenders may be fined S$2,000 or be jailed up to six m...

Full article: http://theonlinecitizen.com/2011/12/the-story-of-smrt-is-...

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