Wednesday, November 8, 2017

LET US MAKE SMRT PUBLIC AGAIN!


SMRT
Dear readers, I have been following the parliamentary debate on the SMRT flooding episode. Indeed, as a daily commuter of SMRT’s train services, I am disappointed at the state of our rail system. Though much has been bantered that our rail system has been working for close to thirty years already, I don’t think we can make for a similar case for Hong Kong’s railway system which is going strong even after working for a long period of time. Hence the bottomline of this all drills down to how SMRT manages its rail business be it hardware or the software.

When SMRT was delisted and make private again last year, many thought that move will actually enable SMRT to focus on its real (rail) business. But following the privatization move, we still encounter train breakdowns and even the latest flooding episode. Though there is still a spate of such woes that frustrate rail commuters on a regular basis, I understand from the parliamentary session that one of the Transport Ministry’s key achievements in the past two years was to make LTA and SMRT ONE Singapore Team to tackle the rail woes.

I believe this ONE Singapore Team concept will be a good starting concept to examine we can put Singapore’s MRT business back to public service sector so that LTA and SMRT will become ONE REAL SINGAPORE team. My basis for SMRT business to be brought back to the public service sector stems from the very fact that transport is a basic public need. And so if now SMRT is now no longer a private entity, it should not focus too much on profitability or the need to answer to shareholders. My belief is that after resolving much of what cause our train systems to break down, the next step will be to rethink what kind of sustainable and people-centric business model for SMRT will be the most ideal. I can only think of the public service sector for SMRT as the most ideal one as it will bring the people element back to SMRT, bring the mission of SMRT to serving its customers: the passenger. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.
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