Para 666 of the COI Report notes that "there appears to be a lack of competent mid-level engineers in SMRT" and "the SMRT Board also appeared to be lacking in engineering expertise as they had no engineering or train-focused representation".I think this is generally a big problem in Singapore. Engineers, even those with degrees but not a registered professional engineer, are not well regarded, so their pay is relatively not as good as those like doctors and lawyers. Some more the title engineer can be quite loosely used, especially in the private sector, so even a person with no degree or even diploma can be called engineer if he worked long enough in technical jobs and got promoted.The same cannot be said of other professions like doctors or lawyers. Cannot suka suka be called a doctor or lawyer without proper professional qualifications and registration, even if one worked long enough in the medical or legal field.
Could have saved the $10 million expensive COI, if they got the right CEO to run SMRT as a core transport Company, and not deviated into a core property landlord instead.And as usual, no heads roll or punished for negligence and greed.
Govt/SMRT did a screwup job in ensuring smooth public transport then use more public money to increase hardware & investigation report. SMRT shareholders are so lucky. It is not really a blue-chip stock but a golden-chip coated with PAP blue.
"Ex-Chief of Army appointed new CEO of SMRT" http://sg.news.yahoo.com/ex-chief-of-army-appointed-new-ceo-of-smrt.htmlFormer Chief of Army Desmond Kuek has been appointed the president and new CEO of SMRT.Another evident that Public listed SMRT belongs to Govt. Temasek Holdings owns 54.28%. See http://www.smrt.com.sg/AboutSMRT/InvestorRelations/ShareholderInformation/ShareholdingStatistics.aspx.So it is only natural to use taxpayers' money of $900 million to increase capacity. Does this $900 million include COE and 300% tax? If yes, than it is hugely inflated.So, the public is correct to blame the Govt for any SMRT major breakdown.It becomes confusing when LTA fines SMRT over this. Govt fines GLC?. What happen if a major shareholder insist on higher return? Somewhere has to go. Maintenance? Your guess is as good as mine....
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