Jump to content

LTA buy back mrt @ 2bil?

Joseph22

By Joseph22,
in Lite & EZ

 Share

Recommended Posts

Celicar

Celicar

Turbocharged

I'm afraid the article is written by someone in his sleep, because he can dream on that what he is proposing will happen. Hell will freeze over sooner.

  • Praise 1
Link to post
Share on other sites
Joseph22

Joseph22

Turbocharged
  • Author

I'm afraid the article is written by someone in his sleep, because he can dream on that what he is proposing will happen. Hell will freeze over sooner.

No no. I don't care what he propose. I only concern if this is real. LTA buying SMRT back for 2bil when it is given for free??

Link to post
Share on other sites
Ender

Ender

Hypersonic

Always thought that the gabermen owns the assets, while SMRT operates and maintain them. Now than I know they have to buy them back..

Link to post
Share on other sites
Chowyunfatt

Chowyunfatt

Turbocharged

Always thought that the gabermen owns the assets, while SMRT operates and maintain them. Now than I know they have to buy them back..

 

Hokkien saying ... "Movie Makers Crazy ... Movie Goers Stupid ... " 😂

  • Praise 1
Link to post
Share on other sites
Joseph22

Joseph22

Turbocharged
  • Author

Always thought that the gabermen owns the assets, while SMRT operates and maintain them. Now than I know they have to buy them back..

Problem is they should need to buy them back since it's given for free in the first place.

Link to post
Share on other sites
Mustank

Mustank

Hypersonic
(edited)

 

 

help Bro J22 to put here:

 

Sold for ONE SINGAPORE DOLLAR by MRTC to SMRT. And will PAP Government pays $2-$3-billion to buy back these assets from SMRT?

1 May 2014, 12.19PM
Underground mass transport systems never made money all over the world. They all must be heavily subsidized by public funds to survive.

 

A good example is when Malaysia built all those LRT by Private Sector - none of them survived that crippling debt of capital expenditures in building the LRT systems.

 

PAP Government recognised that and decided to absorb all capital expenditures - all S$2 to $3-bilion spent building NSEW MRT Lines" - wrote-off all construction costs and signed over to SMRT with S$1 paid to form a binding contract.

The dictum was that SMRT will be responsible to generate sufficient revenues to pay for all operating expenditures. And all future capital expenditures for big-ticket items like rolling stocks will still be borne by PAP Government.

 

But today, SMRT is a public-listed company and why should PAP Government - if there is any truth to the rumour - pay say S$2-billion to buy over those 25+ year old and already "expired by" assets?

And certainly, PAP Government will need to spend ANOTHER at least S$2-billion to replace those 25+ year old "end-of-useful-life" NSEW MRT Line infrastructures?

 

Why can't PAP Government let market-force dictate and just let SMRT bleeds to death with Temasek Holdings snapping up all the very-much discounted share prices and them just delisted SMRT and run it like a statutory board but with capitalist flair like PSA or JTC or even CapitaLand or Keppel Corporation?

 

I will suggest that no more hand-outs for SMRT but instead, force SMRT to start selling away their assets to generate S$2 to $3-billion cash to pay for all those upgrading and replacement works for NSEW MRT Lines.

E.g.

 

1 - $1-billion or more by selling away their SMRT HQ at North Bridge Road. Understand it is out-of-date and most of all their Operations had moved to Paya Lebar MRT Station and Kim Chuan Depot?

 

2 - S$2-billion or more from sales of Changi MRT Depot and Ulu Pandan MRT Depot. SMRT can consolidate all their Operatiosn either at Kim Chuan Depot or those new ones at Woodlands, Yishun and Tuas?

 

3 - S$1-billion from sales of par tof Bishan Depot and form a JV under P-P-P Scheme to redevelop this plot of valuable land with a ne underground depot. A much more efficient use of land.

 

4 - proceed with that high-rise building on top of Outram Park MRT (NEL) where it was original planned for. Just hold a land sale and let it be another P-P-P between LTA, SMRT and a property developer.

 

5 - Then, LTA can move from their Hampshire Road HQ to this new Outram Park High-rise Building, thus consolidating their operations. This will free-up that old KKH for redevelopment with a Masterplan for "Little India" or another new children hospital or hospice or community hospital or even an Euthanasia Centre.

 

PAP Government must not provide any hand-outs to SMRT but to force them to liquidate all their land assets to pay for NSEW MRT Lines Replacement & Upgrading of Infrastructures.

 

SMRT shares got shoot up or not?

 

If not, time to hoot, free $2b

 

 

if this is true, shiit just got real [angry]

\

shit-just-got-real_o_283819.jpg

Edited by Mustank
Link to post
Share on other sites
Joseph22

Joseph22

Turbocharged
  • Author

 

 

help Bro J22 to put here:

 

Sold for ONE SINGAPORE DOLLAR by MRTC to SMRT. And will PAP Government pays $2-$3-billion to buy back these assets from SMRT?

 

 

 

 

 

1 May 2014, 12.19PM

 

by CF Lai

 

1comments & replies | Transport

Underground mass transport systems never made money all over the world. They all must be heavily subsidized by public funds to survive.

 

A good example is when Malaysia built all those LRT by Private Sector - none of them survived that crippling debt of capital expenditures in building the LRT systems.

 

PAP Government recognised that and decided to absorb all capital expenditures - all S$2 to $3-bilion spent building NSEW MRT Lines" - wrote-off all construction costs and signed over to SMRT with S$1 paid to form a binding contract.

The dictum was that SMRT will be responsible to generate sufficient revenues to pay for all operating expenditures. And all future capital expenditures for big-ticket items like rolling stocks will still be borne by PAP Government.

 

But today, SMRT is a public-listed company and why should PAP Government - if there is any truth to the rumour - pay say S$2-billion to buy over those 25+ year old and already "expired by" assets?

And certainly, PAP Government will need to spend ANOTHER at least S$2-billion to replace those 25+ year old "end-of-useful-life" NSEW MRT Line infrastructures?

 

Why can't PAP Government let market-force dictate and just let SMRT bleeds to death with Temasek Holdings snapping up all the very-much discounted share prices and them just delisted SMRT and run it like a statutory board but with capitalist flair like PSA or JTC or even CapitaLand or Keppel Corporation?

 

I will suggest that no more hand-outs for SMRT but instead, force SMRT to start selling away their assets to generate S$2 to $3-billion cash to pay for all those upgrading and replacement works for NSEW MRT Lines.

E.g.

 

1 - $1-billion or more by selling away their SMRT HQ at North Bridge Road. Understand it is out-of-date and most of all their Operations had moved to Paya Lebar MRT Station and Kim Chuan Depot?

 

2 - S$2-billion or more from sales of Changi MRT Depot and Ulu Pandan MRT Depot. SMRT can consolidate all their Operatiosn either at Kim Chuan Depot or those new ones at Woodlands, Yishun and Tuas?

 

3 - S$1-billion from sales of par tof Bishan Depot and form a JV under P-P-P Scheme to redevelop this plot of valuable land with a ne underground depot. A much more efficient use of land.

 

4 - proceed with that high-rise building on top of Outram Park MRT (NEL) where it was original planned for. Just hold a land sale and let it be another P-P-P between LTA, SMRT and a property developer.

 

5 - Then, LTA can move from their Hampshire Road HQ to this new Outram Park High-rise Building, thus consolidating their operations. This will free-up that old KKH for redevelopment with a Masterplan for "Little India" or another new children hospital or hospice or community hospital or even an Euthanasia Centre.

 

PAP Government must not provide any hand-outs to SMRT but to force them to liquidate all their land assets to pay for NSEW MRT Lines Replacement & Upgrading of Infrastructures.

 

 

 

 

if this is true, shiit just got real [angry]

 

Yeah. I am surprise that no one bring this up? Or was this just a scam message on reachus.gov.sg

Link to post
Share on other sites
Albeniz

Albeniz

Turbocharged

SMRT shares got shoot up or not?

 

If not, time to hoot, free $2b

 

MRT shares, no $2 no sell.

 

Huat ah!

  • Praise 2
Link to post
Share on other sites
Mustank

Mustank

Hypersonic

Yeah. I am surprise that no one bring this up? Or was this just a scam message on reachus.gov.sg

 

buying mrt shares NOW!!!!!!!!!!!!!!!!!!!!!! Hoot ah!!!!!!!!!!!!!!!!!!!!!!!!

 

MRT shares, no $2 no sell.

 

Huat ah!

 

no $20 no sell!!!!!!!!!!!!!! huat ah!!!!!!!!!!!!!!!!

  • Praise 2
Link to post
Share on other sites
Celicar

Celicar

Turbocharged

No no. I don't care what he propose. I only concern if this is real. LTA buying SMRT back for 2bil when it is given for free??

Insofar as the buyback is concerned (whether to buy, at what price), until it is said and done, I don't think can say is real or not.

 

As for whether the infrastructure was "signed over to SMRT with S$1 paid", I dunno.

Link to post
Share on other sites
Mustank

Mustank

Hypersonic

Insofar as the buyback is concerned (whether to buy, at what price), until it is said and done, I don't think can say is real or not.

 

As for whether the infrastructure was "signed over to SMRT with S$1 paid", I dunno.

 

if kena leak out sell for $1, buy back at 2B, dai jee really tua tiao liao (hokkien for shiit just got real)

Link to post
Share on other sites
Joseph22

Joseph22

Turbocharged
  • Author

 

if kena leak out sell for $1, buy back at 2B, dai jee really tua tiao liao (hokkien for shiit just got real)

if it is the order way roung... meaning lta buy back at 1 dollar. then no issue also.

 

imo, must keep an eyes on these. more important than CPF issue.

Link to post
Share on other sites
Mustank

Mustank

Hypersonic

if it is the order way roung... meaning lta buy back at 1 dollar. then no issue also.

 

imo, must keep an eyes on these. more important than CPF issue.

 

 

this one the issue is very very very big [crazy]

but at this stage still only a rumour

Link to post
Share on other sites
Ktglfc

Ktglfc

Hypersonic

Gahmen owns SMRT... I don't see the reason why LTA buying back MRT.

 

LTA also garmen...

aiya, everything also garmen.. just left pocket transferred to right pocket.

 

At the end of the day, I really don't care, as long as they don't increase MRT fares, and transport fares !

 

Don't because of this, they going to raise fares, then I will really be piss off !

↡ Advertisement
  • Praise 1
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing
×
×
  • Create New...