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SMRT
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steadylar
Veteran |
04-May-2014 09:36
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The recent sudden surge in SMRT stock price was clearly due to insiders who benefitted from the knowledge abt the sale of some SMRT assets to the govt. But insiders' trading on news are the norm rather than exception anyway, nothing has been done abt insider trading for as long as we can recall. |
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Markie
Senior |
03-May-2014 21:06
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Why don't wanna support comfort? Black rock even recently purchased their shares
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ascend88
Master |
03-May-2014 14:33
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Lots of news and airtime given to smrt and it's CEO lately ...
In straits times today :) |
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Qanghoo
Supreme |
02-May-2014 22:31
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In that case, CD n SBST shares shd also fly cos the govt will surely apply the same model across the board. |
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ascend88
Master |
02-May-2014 21:09
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SMRT says proposal for rail financing model submitted to govt
A A+ 02 May 2014 12:20 SINGAPORE: Transport operator SMRT said it has submitted its proposal for a rail financing model to the government a month ago. Speaking at the company's fourth quarter results briefing on Friday, SMRT's CEO Desmond Kuek said it hopes the government will respond "as soon as possible". Mr Kuek adds that should the changes to the rail financing and bus operating models be approved, SMRT should "see a much more sustainable business outlook". SMRT has reported a net profit of S$16.9 million in the fourth quarter, compared to a loss of S$11.9 million in the same period a year ago. For the full year ending March 31, 2014 SMRT booked a profit of S$61.9 million, down 25.7 per cent from a year ago. |
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sun233
Elite |
02-May-2014 10:37
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Doesn' t it smell of insider trading................ |
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Octavia
Supreme |
02-May-2014 09:29
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SMRT back in the black SMRT Corp announced before the May Day holiday that it had swung back into a profit in its fiscal fourth quarter. Net profit for the three months ended March rose to S$16.9 million, compared to a year-ago loss of S$12 million, as the public transport operator significantly grew non-fare profit while narrowing losses in its bus operations. SMRT' s shares have been actively traded over the past week amid speculation that the company may be close to a deal with the government to change the financing and operating models for its rail and bus businesses. Shares of property developer Fragrance Group have been halted as shareholders meet this morning to vote on a distribution in specie of the entire 52.28 per cent stake held by the company in Global Premium Hotels, Fragrance' s listed hospitality arm. Fragrance shareholders will receive about 0.08 Global Premium Hotels share for each Fragrance share held. |
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MetalTrader3
Supreme |
02-May-2014 00:28
Yells: "Let Your Ignorance Be Shown Tommorrow! ~ PredictorX" |
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Mooo Hahaha!! | ||||
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enjoylife77
Veteran |
02-May-2014 00:26
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Dont expect the return of robust earnings and dividend. When DTL2 starts operation in 2015/16, SMRT earnings will take a hit. Their overseas investment doesnt seem to be bearing fruit. The worst is right ahead. |
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SuperMonkey
Senior |
01-May-2014 23:33
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pardon me.. i read the financial statement and dun understand how come they get loss for fare business for FY14? |
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interfact
Senior |
01-May-2014 23:18
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Yesterday, it reported a loss of $25 million on its fare businesses for the financial year ended March 31, pulling down its overall net earnings to an 11-year low of $61.9 million. Here is the press release from SMRT: SMRT registered $61.9 million profit for FY2014 despite sustaining losses in its fare business Group Revenue increased 4.0 per cent to $1,163.9 million in FY2014 due to higher revenue in almost all segments. Non-Fare business operating profit grew 12.4 per cent to $106.4 million, mostly driven by growth in Taxi, Commercial and Engineering Services. PATMI, however, declined 25.7 per cent to $61.9 million in FY2014 due to much lower Rail profitability. Overall Fare business incurred a loss of $25.0 million in FY2014, compared to an operating profit of $32.3 million in FY2013, as fare revenue growth was insufficient to cover rising operating costs without commensurate fare adjustments. The Board has proposed a final dividend of 1.2 cent per ordinary share (DPS). Including the interim DPS of 1.0 cent, this will bring total DPS in FY2014 to 2.2 cents. This amounts to a 54.1 per cent payout from FY2014 PATMI of $61.9 million. 
Operating expenses rose 7.3 per cent to $1,121.8 million due mainly to higher staff, depreciation and other expenses. Staff costs rose due to increased headcount in Train and Bus businesses to support a larger fleet and improve operational performance, as well as the impact of the wage alignment exercise in the last financial year. Depreciation increased due mainly to the capitalisation of the operating assets taken over from the Land Transport Authority (LTA) in 1QFY2014, and a newer taxi and larger bus fleet. Higher other operating expenses were due mainly to higher expenses from costs associated with LTA schemes to incentivise commuters to travel into the city area before the morning peak hour. Total assets declined 6.8 per cent to $2.1 billion due mainly to lower cash for the payment for 17 trains accrued in FY2013 and operating assets taken over from LTA. During the year, there were purchases of property, plant and equipment related to rail operating assets, taxis, buses and commercial spaces. The Group ended the year with cash balance of $155.5 million compared to $546.3 million at the start of the year. The Group generated $234.4 million of cash flows from operating activities and $17.2 million from financing activities. The funds were mostly utilised to invest in property, plant and equipment. The Group' s total borrowings stood at $636.4 million, translating to a net gearing of 60 per cent. Business Performance 
Fare Business The Group' s overall Fare business recorded a loss of $25.0 million for FY2014. For Train operations, despite a 2.9 per cent increase in ridership, operating profit dropped sharply to $5.5 million from $65.1 million as operating costs, to meet heightened ridership demands and regulatory standards, continued to outpace fare revenue growth. LRT' s losses widened from $1.0 million in FY2013, to $2.1 million in FY2014. For Bus operations, despite a 4.6 per cent increase in ridership and productivity gains, continued to register a loss of $28.4 million for FY2014. Non-Fare Business Profit from the Non-Fare business increased by 12.4 per cent due largely to an increase in profits for Taxi, Commercial and Engineering Services. Taxi profits increased 49.7 per cent to $9.6 million due to higher rental contribution from a newer fleet, and lower diesel tax as a result of a smaller diesel fleet. In Commercial, Advertising profits increased by 13.4 per cent to $20.8 million, due to increased advertising on trains, buses and in the network, and Rental profits increased 9.6 per cent to $73.4 million due to increase in lettable space from the redevelopment of Woodlands Xchange and higher rental renewal rates. Engineering profits increased by 137.7 per cent to $3.8 million due mainly to higher contribution from international consultancy projects as well as local engineering and project work. OUTLOOK AND PROSPECTS Despite the continuing cost pressures in the Fare business, the Group registered a 4QFY2014 QoQ and YoY improvement in its overall profitability. The Group' s Fare business will continue to be challenging because of heightened operating requirements, unless there are commensurate and timely fare adjustments. The recently approved fare adjustments will partially offset some of the increased costs. The Group will continue with its productivity efforts in FY2015 to help mitigate the declining profitability in the Fare business. The Group expects that the impending changes to the rail financing and bus operating models will address the sustainability of its Fare business in Singapore. The Group also looks forward to the launch of the new Sports Hub retail mall, which is at the doorstep of our Stadium Circle Line Station, in the coming months. SMRT' s President and Chief Executive Officer, Mr Desmond Kuek, said: " We will continue to improve standards in service, reliability and capacity of our trains and buses. We will continue to grow our Non-Fare business, with new commercial and overseas opportunities, and the strengthening of our local rail engineering capabilities." |
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renzokun
Senior |
30-Apr-2014 18:51
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Hahah. .joke of e day
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enjoylife77
Veteran |
30-Apr-2014 11:18
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Have you cut loss?
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WanSiTong
Supreme |
29-Apr-2014 10:58
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goodee
Member |
29-Apr-2014 10:43
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Maybe it will report better results... I' m optimistic |
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danytan
Master |
29-Apr-2014 10:17
Yells: "Up up and away!" |
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dyodd before boarding this train.
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enjoylife77
Veteran |
29-Apr-2014 10:15
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The smart will not board the train.
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brchkho1
Master |
28-Apr-2014 19:58
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It' s a logical question, how mant people can live without public transport? Once all the older part replacements are completed, the costs will be reduced, hence bottomline will be better. Besides, there is also earlier announcement of fare adjustment. Certainly, market will react first, especially all the better counters are also moving lately. |
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ascend88
Master |
28-Apr-2014 19:41
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Think many still have not board yet ..
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renzokun
Senior |
28-Apr-2014 18:03
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Well said
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