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by Heng-Cheong Leong, MyAppleMenu
I think there is one point that a lot of bloggers failed to recognize in the discussion (more like rants to me, more often than not) about public transport fares: the government simply does not have the power to force transport companies to lower their fares outside of the annual reviews.
The relationship between the government and the transport companies is based on a contract: in exchange to providing a minimum level of service as stipulated by the government at a fare capped by a formula, the government gave monopoly power to the public transport companies to earn 'reasonable' profits. No where in the contract — at least, publicly — gave government the power to force public transport companies to lower fares outside of the annual review and outside of the formula.
Do you really want a government that changes the rules in the middle of a game? Do you really want a government that goes back on its word, after signing a contract? (Aren't you reminded of a certain government that unilaterally declared an MOU null and void after signing the said MOU?)
Perhaps the government should negotiate for a contract that is more 'favorable' to its citizens for the next annual review. Perhaps haiving for-profit companies provide public transport is a wrong move. But I certainly don't want a government that ignores contracts.
Moreover, after all the rantings by all the bloggers out there, I fail to see a single blogger taking the public transport companies to task in lowering the fares. The power to lower fares lies in the public transport companies, not in the government. At least until the next review in October this year.
by Wild Shores of Singapore
by Chen Shiyin, Bloomberg
Singapore's fourth-quarter private home prices declined 5.7 percent, the steepest drop in a decade, as the global financial crisis and an economic recession deterred buyers.
by Rafiz Hapipi, The Online Citizen
From the way I read it, the canvass barricade serves to do send out the message, "Pay Per View or Keep Off!"
I see no problem having an entertainment event being "pay-per-view," so long as it is not subsidised heavily by the government.
by Jack Sim, 360Perspectives
I feel the only way forward is to make Singapore a timeless zone: one where all our offices, factories, civil service, public transportation, banks, shpping, leisure and entertainment centres run round the clock.
We are not robots. There are deep biological and evolutionary reasons why we wake up in the day and sleep in the night.
by John Burton, Financial Times
Chartered Semiconductor exemplifies the problem facing Singapore's ailing electronics sector after warning that it will suffer its biggest loss in nearly four years when it reports its results for the last quarter of 2008.
by Costronic, The Star
These point to inadequate planning and some might even say it was built with no consideration to the actual users.
by Cheryl Lim, Straits Times
Some locations the visitors felt are cheaper include Taipei, Hong Kong and Shanghai.
by Susan Fogwell, NY International Travel Examiner
Considered one of the most beautiful public gardens in the world, one of the highlights at the botanical gardens are the extensive and diverse orchid pavilions.
by Channel NewsAsia
The Singapore economy is expected to grow between -2.0 per cent and 1.0 per cent in 2009. The forecast by the trade and industry ministry is lower than the -1.0 per cent to 2.0 per cent range forecast in November 2008.
The weaker prognosis for the Singapore economy in 2009 is based on the sharp contraction seen in the fourth quarter of 2008.
See Also: Singapore Cuts Economic Forecast Amid Deepening GLobal Crisis, by Shamim Adam, Bloomberg.
by Phua Hooi Boon, Ministry Of Transort, Straits Times
We explicitly decided not to allow operators to pass on their direct costs, such as fuel and wage costs, or to base their fares on these costs. This is to give operator every incentive to operate efficently, and keep their costs as low as possible. Thus, even though the operators have sought to justify fare increases based on rising fuel prices, the Public Transport Council (PTC) will adjust fares only according to [a] prescribed formula [pegged to Consumer Price Index and Wage Index].
This is why last year, despite a 40 per cent increase in diesel prices, the increase in CPI and WI was only 2.1 per cent and 6.9 per cent respectively, leading to an allowable fare adjustment of 3 per cent. As the PTC also made the operators absorb a large part of the increase in transfer rebate, fares went up by only 0.7 per cent in October last year.
by Crystal Chan, New Paper
With tourist arrivals falling, some hotels are now rolling out promotion to lure more local guests.
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