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15-10-2014, 10:40 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
It shouldn’t have even tot of bidding because SMRT’s market capitalisation of S$2.3bn was only 30% more than reported bid price.. It’s finances are not in great shape either. At the end of its last financial yr, cash flow was negative and gearing stood at 65%, while it also suffered its first loss in its fare business.
It also has operational problems here.
So what were the ex-scholar and his fellow ex-SAF officers thinking?
Plenty of things to do in S’pore (including more reliable service) and it doesn’t need any distraction abroad,”
And going abroad in a political nightmare for the govt and SMRT: if it loses money, S’poreans will be screaming (rightly) that the public is subsidising their failure overseas.
The investment bank that brought a proposal to SMRT to bid should have been sent packing immediately, not entertained enough so that a staff member would leak that SMRT was planning to bid.
http://atans1.wordpress.com/2014/10/...poreans-happy/ (http://atans1.wordpress.com/2014/10/15/smrt-is-dysfunctional-still-why-unaffordable-coes-should-make-sporeans-happy/)
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?192067-What-was-moron-Desmond-Kuek-thinking-expanding-overseas&goto=newpost).
It shouldn’t have even tot of bidding because SMRT’s market capitalisation of S$2.3bn was only 30% more than reported bid price.. It’s finances are not in great shape either. At the end of its last financial yr, cash flow was negative and gearing stood at 65%, while it also suffered its first loss in its fare business.
It also has operational problems here.
So what were the ex-scholar and his fellow ex-SAF officers thinking?
Plenty of things to do in S’pore (including more reliable service) and it doesn’t need any distraction abroad,”
And going abroad in a political nightmare for the govt and SMRT: if it loses money, S’poreans will be screaming (rightly) that the public is subsidising their failure overseas.
The investment bank that brought a proposal to SMRT to bid should have been sent packing immediately, not entertained enough so that a staff member would leak that SMRT was planning to bid.
http://atans1.wordpress.com/2014/10/...poreans-happy/ (http://atans1.wordpress.com/2014/10/15/smrt-is-dysfunctional-still-why-unaffordable-coes-should-make-sporeans-happy/)
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?192067-What-was-moron-Desmond-Kuek-thinking-expanding-overseas&goto=newpost).