...Growing population, exponentially growing COE prices, growing MRT line coverage , sophisticated bus services, high reliable MRT system are some of the factors that increase ridership. Thus any increase in the ridership affects positively the SMRT. Technological SMRT Institute which is a subsidiary of SMRT provides educational programmes to meet and grow the technological advancements in the land transportation. Nitec in Rapid Transit Technology programme jointly developed by the Institute of Technical Education and SMRT Institute provides strong foundation for students in the railway technology. This is programme is first of its kind in Southeast Asia (SMRT Corporation Ltd 2008-2012b). SMRT International Pte Ltd, a WOS (wholly-owned subsidiary) of SMRT so strong in technology offers PM (project management), O&M (operations and maintenance), engineering and consultancy services road to rail and road transport owners around the world. SMRT International Pte Ltd services clients in various parts of the world and they are China, the Middle East, India, Taiwan, the Philippines, Thailand and Vietnam (SMRT Corporation Ltd 2008-2012c). SMRT’s SMRT institute with world class programs and projects outside Singapore would help SMRT to have an edge in fast developing technology. Environmental Singapore is one of the tiniest nation on the globe. Streets in Singapore take up 12% of the Singapore complete area in comparison to 15% filled by housing (Nugroho et al. 2010)...
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...Directors Senior Management Organisational Structure Group Structure Corporate Information Corporate Directory Corporate Governance Key Dynamics & Risk Management Corporate Social Responsibility Highlights 25 1.0% Grassroots 26 27 30 47 54 64 0.3% Education 56.1% Corporate Giving in FY2012 86 76 Social Services Operating & Financial Review Fare Revenue ($m) 68 72 CEO's Message Company Overview & Background Group Performance Value Added & Economic Value Added Analysis SMRT and Our Shareholders SMRT Trains & SMRT Light Rail SMRT Buses SMRT Automotive Services SMRT Taxis SMRT Investments (Properties & Media) SMRT International & SMRT Engineering 749.6 9.4 213.1 800.5 10.1 76 220.4 82 84 527.1 569.9 86 92 96 FY2011 Train Bus FY2012 LRT 98 100 102 Financial Report 105 190 191 193 203 Financial Contents Group Properties & Interested Person Transactions Shareholding Statistics Notice of Annual General Meeting Proxy Form SMRT Corporation Ltd Annual Report 2012 1 Milestones 1987 Singapore’s first Mass Rapid Transit system (MRT) opens for service Train service from Yio Chu Kang to Toa Payoh commences Train service from Novena to Outram Park commences 1988 Train service from Tiong Bahru to Clementi commences Train service from Jurong East to Lakeside commences Train service from Kathib to Yishun commences 1989 Train service from Bugis to Tanah Merah commences Train service from Simei to Pasir Ris commences ...
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...Management Report for SMRT Corporation By: Subash S/O Tharumalingam Table of Contents 1. Executive Summary 4 2. Introduction 5 3. Current Company Situation 5 3.1. Past Performance Assessment 6 4. External Environment Analysis - PESTEL 6 4.1. Political 6 4.2. Economic 6 4.3. Socio-Cultural 7 4.4. Technology 7 4.5. Environment 8 4.6. Legal 8 5. Industry Analysis 9 5.1. Porter's Five Forces 9 5.2. Competitor Analysis 9 6. Internal Environment Analysis 10 6.1. Financial Performance 10 6.2. Value Chain 11 6.3. Key Success Factors 12 6.4. Core Competencies 14 6.5. SWOT Analysis 15 6.6. Objectives 16 6.7. Key Issues Identified 17 7. Development Strategies 17 7.1. Strategies base on SAVED 17 7.1.1. Strategy One: 17 Venture into tourism by providing two-way transport services to Johor Premium Outlets, Legoland and Hello Kitty Land from Singapore for families and schools 17 7.1.2. Strategy Two: 19 SMRT to provide transport services mainly for tourists to send them to their hotels from airport and partnership with budget hotels chains and hostels. 19 8. Selection of alternatives 21 8.1. Chosen Alternative 21 8.2. How is the chosen alternative superior to the rejected alternative? 21 8.3. Weakness of the chosen alternative and how to overcome 22 9. Implementation 22 10. Evaluation and Control 23 11. Conclusion 23 12. References 24 13. Appendix 27 13.1. Appendix 1: SMRT Operating Metrics 27 13.2. Appendix 2: Porter’s Five Forces 28 13.3. Appendix 3: SMRT List of subsidiaries...
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...grasping such expertise is definitely a must given that becoming a master of it makes me competitive advantageous over others. Then again, I am especially fascinated concerning the success of Singapore’s duopoly public transportation system which is perceived as one of the key sector in the success of Singapore’s infrastructure. This duopoly transportation system is dominated by 2 major players, one of which is my choice of organisation, Singapore Mass Rapid Transport Corporation Limited. (Also known as SMRT Corporation Ltd). In fact, total number of passengers utilising public transport has been growing constantly since Year 2000. For the year ended 31 December 2010, a highest record of 726,034,000 passengers was achieved (Yearbook of Statistics Singapore, 2011). And contributing to this significant figure is I myself, as a daily commuter, utilising SMRT trains and buses daily to travel to and fro school and workplace. Despite such high volume of riders and revenues, SMRT Corporation applied to government for increasing fares, discontentment arises among commuters and painted a negative image on the company. I felt spellbound to analyse this...
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...1. COMPANY BACKGROUND SMRT Corporation Ltd ("SMRT") is incorporated on 6 March 2000 and listed on the Singapore Exchange since 26 July 2000. It is the second largest multi-modal public transport service provider in Singapore, offering a range of integrated transport services, as well as the leasing of commercial and advertising spaces, engineering consultancy and project management services. SMRT operates two out of the three MRT lines in Singapore (81.7% of the whole network) as well as the Bukit Panjang LRT system (27.1% of the rail length). The company’s bus and taxi operations form a marginal part of the transport systems at an estimate of 26.5% and 12.3% respectively, based on fleet size. In October 2008, public transport fare was increased by a net 0.7%. Transfer rebates were increased by 10 cents while all adult and senior citizen fares were increased by 4.0 cents per ride. However, with the recent shrinking of the Singapore economy, SMRT decided to roll out a fare reduction package from April 2009. The package will include a 4.6% reduction in bus and train fares and higher transfer rebates. 2. ANALYSIS OF INDUSTRY 2.1 Intensity of Rivalry among existing Competitors The public transport industry in Singapore is a duopoly industry, with SBS Transit being the only competitor in SMRT’s core operations, which is MRT and buses. Even so, SMRT’s operations are more focused on the MRT segment (53.96% of total revenue) while the major...
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...Background Information Key Financial Information Industry Information Company Information 5 6 7 8 Strategic Analysis of the company IT implementations and Successes Road ahead and Conclusion Background Significant bus operator in Singapore with 25% market share Leader in the world’s rail Industry in train service quality Growing revenue from retail, Advertising and Consulting services Dominant rail Operator in Singapore with 23 yrs operating Experience SMRT Second largest Taxi operator in Singapore with 3000 Taxis Mission, Vision & Core Values Excellence, Respect, Responsibility and Recognition, Commitment to the public, shareholders and employees Corporate Structure SMRT Trains Ltd • Incorporated on 6 August 1987 as Singapore MRT Ltd • Renamed as Singapore Mass Rapid Transit (SMRT) Corporation in 2004 • Main and only competitor: SBS Transit SMRT Buses Ltd • • • • Previously Trans Island Bus Services (TIBS) Incorporated as TIBS on 31 May 1982 Renamed to SMRT Buses Ltd on 10 May 2004 Main and only competitor: SBS Transit Ltd Milestones Geographic Footprint 10 Operating Model Group Information Financials Share Holding Pattern License and Operating Agreement 16 Critical success factors • Turnaround time – Shorter waiting time • Cost effective and sustainable transport – through integrated information • Network Span -Seamless travel across wider network • Modular transportation growth approach...
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...“You can resign and go to SBS,” the drivers were told by Vincent Wijeysingha on Sunday, 2 December 2012 at 21:52 · The government has acted in our name as is its duty. It purged an industrial action and returned the nation to business as usual. The bus drivers from SMRT recklessly involved themselves in an illegal strike after refusing to bring their grievances to management or their trade union or seek the assistance of the Manpower Ministry. Twenty-nine have been deported, one hundred and fifty more issued a police warning and the five ringleaders will be tried. Industrial harmony has been restored, the tripartite relationship upheld, and public disorder averted. As fortunate citizens of this prosperous and stable nation, we can heave a sigh of relief. Those refractory foreigners got what they deserved. How dare they come to our land - which our government built from a fishing village - and demand such indulgences as suitable accommodation and an equal wage. Nobody promised them any of that: if they aren’t happy here they can fuck off back home. There are too many damn foreigners here as it is. The come here to steal our jobs, marry our women, clog the trains, explode housing prices, beat up taxi drivers, and drive Ferraris too fast. They dance outside Wisma Atria and jam the staircases at Lucky Plaza. Oh, and they smell. And talk too loudly. In strange accents. In short, they are audacious and unpleasant. Oh, and they smell. Did I mention that? They do. And they...
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...Analysis SMRT – Industry Analysis (Michael Porter’s 5-Forces Model) ------------------------------------------------- Rivalry Among Existing Firms * Trains * Duopoly system in Singapore, train services (Mass Rapid Transit) dominated by SBS Transit and SMRT Trains. * Currently 4 major ‘lines’ in Singapore, namely Circle Line, North-East Line, East-West Line and North-South Line. * Though the train services were owned by Land Transport Authority of Singapore, the trains are operated by two operators, SMRT Corporation (SMRT Train) and ComfortDelGro (SBS Transit) * Dominated by SMRT Corporation, they operate the Circle Line, North-South Line and East-West Line. The remaining North-East Line is operated by SBS Transit. * * Taxis * Initially with only 3 major operators for taxi, this had since increased to 7 taxi operators. * Major operators in Singapore are ComfortDelGro (includes CityCab, Comfort, Yellow Top), TransCab and Taxi by SMRT Corporation (known as SMRT Taxi). * The other operators with less than a fleet of 2,000 taxi are UnionCab, PrimeCab, Premier Taxi and SMART Cab. * With the increasing number of companies into the Taxi Industry since 2004, possibilities are there might be an increase in Taxi Operators in Singapore. * * Buses * Numerous of operators in Singapore whom offer public and private bus services. * Focusing into the public bus sectors, dominated by SMRT and SBS...
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...MASS RAPID TRANSIT: GOING OFF TRACK On January, 2012, Singapore Mass Rapid Transit (SMRT) Corporation’s Chief Executive Officer (CEO), Phaik Hwa Saw, resigned from her position after two major breakdowns on the North-South Line in December 2011. SMRT was a public transport operator in Singapore, with a transportation network that comprised buses, trains and taxis. The two breakdowns were arguably the largest public transportation incidents in Singapore’s history, occurring two days apart and affecting more than 220,000 commuters. Widespread public outrage ensued, with heavy criticism of Saw for the breakdowns and her mismanagement of the corporation. Prior to the incidents, Saw’s tenure as CEO had been associated with a particularly prosperous period in the history of SMRT. She had successfully navigated SMRT through its post-merger transition process and achieved a significant growth in profits. She had also transformed SMRT from a company focusing solely on transportation to one that provided all-around service and transportation to commuters. Why did Saw become the target of public discontent? Were the breakdowns a result of her lack of ability to lead SMRT effectively? LEADERSHIP HISTORY Prior to Saw’s appointment in December 2002, SMRT had been traditionally led by men with engineering backgrounds and experience in military or public service. SMRT was first led by Leong Geok Lim, who had a degree in engineering. He was widely acknowledged...
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...Fundamental lessons which we can all learn from the bus strike Against the backdrop of the now famous bus strike, there have been efforts undertaken by the following parties: The Singapore Government calling on all parties to voice their grievances through the appropriate channels and a flurry of measures adopted by SMRT in response to public and government sentiment. Whilst the reactions and actions undertaken after the strike are laudable, one can’t help but express concern that the underlying issues of wages, worker’s living conditions and a clear lack of communication channels between all relevant parties have surfaced only via the drastic action of a strike. Indeed, all parties involved have to clearly reflect on the events of the past week and do their utmost to prevent future occurrences of such incidents. Complacency setting in Citing how strikes would affect workforce productivity and deter potential investors, the Singapore Government has long taken a dim view towards strikes and strikes have been few and far between throughout the annals of Singapore’s history. This has and still must be the key driving policy: A zero tolerance towards illegal strikes. In an attempt to maintain the welfare of general workers in Singapore, the National Union Trade Congress, businesses and National Employer’s Federation had been established. Tripartism was vaunted as the the way to progress and to cultivate the symbiotic relationship between businesses, employers and employees...
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...http://www.termpaperwarehouse.com/essay-on/Financial-Analysis-On-Smrt/25773 THE tender to operate the 42km MRT Downtown Line is now open – the first designed to prevent public transport companies from slipping into complacency as far as customer service is concerned. For starters, the Downtown Line contract is for only 15 years, down from the 30 to 40 years given to operators of earlier lines. The operators of the Downtown Line will also have to lease operating assets such as trains from the Government. Under the old system, rail operators were given the initial set of operating assets, but had to foot the bill for replacement sets. And unlike some previous tenders which were open to all interested parties, the new tender is open only to incumbent transport operators SMRT Corp and SBS Transit. Tenders for future lines – such as the Thomson and Eastern Region lines – might be open to players other than the incumbents, including those from abroad. When the lease for the Downtown Line expires in 2032, another tender for an operator may be called. Changes to the business model were mentioned in August, when Second Transport Minister Lim Hwee Hua told Parliament a higher level of contestability was still possible with just two players. ‘The issue here is really not about the number of potential players in the industry,’ she had said then. ‘Rather, the intent is to increase the level of competitive pressure in the industry by issuing shorter licence periods and...
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...SMRT Bus Driver Case: More pay but more work? A study of union, management and employees’ relationship and dispute management SMRT Bus Driver Case: More pay but more work? A study of union, management and employees’ relationship and dispute management 1. Negotiating Labour Agreement between Union and Management Both unions and management of organizations have their individual objectives that could be similar or different accordingly to their perspectives. In Singapore, with tripartism, both union and management together with the government would settle their differences through a collective agreement. From the perspective of the management, profitability, growth and effective human resource management are the three main goals. For the unions, besides the management’s goals, they are concern about the welfare of the employees. Some companies believe that it is better off remaining non-union and adopt a hard-bargaining approach towards the unions. However, some eventually accept the philosophy that with both parties cooperating, it will create a win-win situation for both and gain more out of the collaborations. Any interest dispute that was raised by employees or employers could be resolved via two collective bargaining approaches of distributive bargaining or mutual gain bargaining. The distribution bargaining approach creates a win-lose situation while mutual gain bargaining a win-win situation. In order to illustrate how...
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...Ethical Saw believes that the SMRT team can play a part in environmental sustainability (SMRT 2008). SMRT thus came up with the new Euro V bus which signifies the company’s initiative to go green. This fleet of Euro V buses will reduce the amount of harmful pollutants that are emitted into the environment as a result of the operations of the buses (Channelnewsasia 2008). Society today expect organisations to do business in more responsible ways and by introducing the Euro V bus, Saw has proven her stand on ethical leadership. Ho believes that “ businesses can, if morally driven and passionately executed, be a positive force in making this a world of greater equality and prosperity for all in the community” (Banyan Tree Hotels & Resorts 2008). Banyan Tree has received a lot of environmental awards, starting from 1992-2008. For example, the PATA Gold Award 2008 Ecotourism Project category." (Banyan Tree Hotels & Resorts 2008) Ho kept the environment in mind when designing and constructing his resorts. A situation when he displayed his ethical leadership will be when building the Banyan Tree resort in the Maldives. He ensured that the fragile coral reefs that surrounded the Maldives were protected. Apart from this, the Banyan Tree design team also came up with innovative roofs that took into consideration the environmental concerns of the Maldives. (Hospitality Industry in Asia) Mr Ho always ensured that factors in the external environment are not affected as a result...
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...| Runaway expenses derail SMRT's 1st-half earningsStraits Times, 29 October 2011, 604 words, Christopher Tan, Senior Correspondent, (English)18% earnings fall as expenses outpace 7.1% revenue boost RAIL and rental group SMRT Corp posted an 18 per cent fall in net earnings to $68.9 million for the six months ended Sept 30, as expenses outpaced revenue growth. | SMRT fined $200,000 for security breach Straits Times, 19 October 2011, 703 words, Royston Sim, (English) THE Land Transport Authority (LTA) has fined rail operator SMRT $200,000 for the Bishan depot security breach which left a train vandalised in August. SMRT Q2 profit plunges 25.6% Business Times Singapore, 29 October 2011, 469 words, Michelle Tan, (English) Operating expenses rise 15.5% as electricity and diesel costs surge 44% RISING energy prices continued to take their toll on SMRT Corp, with its net profit falling 25.6 per cent year on year to $34.1 million for the second quarter ended Sept ... companies; SMRT tops in corporate governance study SMRT Corp has come out tops in a study of the corporate governance practices of Singapore-listed firms. The study was done by United States-based business consultancy Resources Global Professionals (RGP), which scrutinised the public records of the 30 companies that make up the Straits Times Index. The companies were scored based on several factors, such as their compliance with the Code of Corporate Governance, structure of their boards, what directors are...
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...How to use the smrt! Wallet As an ismrt! customer, you can download your statement, view your consumption and purchase credits online at any time by following these easy steps: Please visit www.remotemetering.net – Click on the ismrt! logo. You will be directed to the login page: Enter your email/cell phone and pin number that was SMS’d or emailed to you upon registration to log onto the smrt! Wallet. How to use the smrt! Wallet Unit Number Account Name Account Balance Account Number Predictive Usage (This aims to predict your electricity usage based on your previous usage patterns, it also indicates when you will run out of money on your accout and when you will reach your target Rand usage if you configured it in the smrt! Wallet (See below)) Click on the set here: dropdown menu on the top right corner. A variety of settings and features can be • Set Target (With the smart meter technology you can set a target on the maximum Rand value you would like to spend every month. It will draw a black line on the Monthly Rand Value Usage Graph and indicate green if you stayed within your target and red if you exceeded it.) • Min Warning Balance (With the option you can set the minimum Rand value that you would like to be notified by the system when you Rand balance is running low. This will ensure that you do not run out of credits if you have not checked your balance for a while.) • Purchase Credits (You can top up your credits...
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