The S$1.1 billion question — let me say it again

The S$1.1 billion question — let me say it again #singapore

My earlier article on the proposed S$1.1 billion give-away to SMRT and SBS Transit, our two public bus companies, was, truth be told, rather rambling. I was trying to cover too much ground. A comment by Yuen has motivated me to try to re-state my case, this time in a more succinct way. Further down, I will provide a more direct response to his comment. In six points, my thoughts on this matter are: 1. By awarding sectional monopolies to SMRT and SBS Transit, the government has pulled a veil over the question of whether these companies have operated as leanly as they could. How do we know they have not over-rewarded their directors and senior staff? How do we know they have been as efficient as possible? Or that they have not been over-generous with dividends? 2. Therefore, how can we take them (and the government) at their word that they are unable to expand their fleets t...

Full article: http://yawningbread.wordpress.com/2012/02/27/the-s1-1-bil...