This news hits me with many thoughts…
1. Didn’t the government approve the cost in increase in transport(taxis, buses, MRT), utilities, phone bills?
For the record, the below are listed as the profit
For the record, the abovementioned list of profits belongs to:
$3.6b – Singtel, which raised phone charges this week.
$1.086b – SingPower, which raised electricity prices by 22% this month.
$505m – S’pore Press Holdings, which upped its newspaper prices this month.
$150m – SMRT, which raised its train fares on Oct 1st.
$50m – SBS Transit which also raised its fares on Oct 1st. (Its parent company, ComfortDelgro, netted $223m last year).
Read this article on the online citizen, Greed run amok. A very poignant point made. If it is not greed, what is it?
2. How to reduce operational cost? When utilities and rent are constitute a large percentage?
Perhaps, this is a call for more foreign talent to come work in Singapore? What tightening of the belt is all about? I honestly, rent and utilities are not major impediment for businesses along with wages. With higher cost of living in Singapore, I do think that many will be under pressure. This is a vicious cycle, sad to say.
3. Times are going to be tough and why did they have to raise rates before the bad news hits?
I have one only conclusion! Times are indeed bad now. And belt up and hope we can all come out of the ride unscathed! And one more thing, brace yourself for pay cuts and increasing prices in daily commodities. All in the name of Greed