SMRT

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The latest PPT from SMRT on the "deal". The total train biz EBIT (fare + non-fare) was 78 million, with EBIT margin 9.5%. The new formula, enable the risk-sharing and also profit sharing among LTA/SMRT in rail operation. SMRT get less, but more secured biz from the "deal".

http://infopub.sgx.com/FileOpen/Slides%2...eID=413002
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Security now last only 15 years Smile

I think this deal is pretty watershed on the govt's thinking of what is a reasonable margin for transport business in an operator model. I'm not sure how the profit collar works in reality ie for example does a one year bonus for staff pushing OM to below 3.5% qualify? Big Grin But of course on the structure side transport companies can improve the ROE through capital management but without sizable assets it will be limited.

I think it is a good deal for the public consumer. I think the operator model is a good compromise between capex spending for public / social infrastructure vs Singapore Inc mentality.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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(18-07-2016, 10:01 AM)specuvestor Wrote: Security now last only 15 years Smile

I think this deal is pretty watershed on the govt's thinking of what is a reasonable margin for transport business in an operator model. I'm not sure how the profit collar works in reality ie for example does a one year bonus for staff pushing OM to below 3.5% qualify? Big Grin But of course on the structure side transport companies can improve the ROE through capital management but without sizable assets it will be limited.

I think it is a good deal for the public consumer. I think the operator model is a good compromise between capex spending for public / social infrastructure vs Singapore Inc mentality.

I believe the BOD will know what not to do.
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SMRT Corporation Ltd wishes to announce a continuation of the trading halt pending a possible  announcement
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(18-07-2016, 12:09 PM)Vseeker Wrote: SMRT Corporation Ltd wishes to announce a continuation of the trading halt pending a possible  announcement

Temasek take over? 

brattzz: CPF->SG GOV->LTA->SMRT->IRAS & [NOTHING to temasek] -NOTHING->SG GOV--NOTHING-- >CPF
            
[New flow?]:  Temasek > buyout > SMRT shareholders. Yay! Hahaha...

Dont see the need to privatise leh...the current model: keep high capex assets. outsource to competing private operators. Quite good leh...
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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maybe Temasek (54.1% stake holder in SMRT) saying "I'm abstaining !!, all ye OPMIs go take on LTA+Min Transp... if not happy with the deal...
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Spot on. temasek considering bid to privatize SMRT.

http://www.straitstimes.com/business/com...mrt-report
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At price-to-book of 2.5? Seems hardly worth it.
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Temasek only need to beat 2.5% OA rate?! Hahaha.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(18-07-2016, 01:26 PM)opmi Wrote: Temasek only need to beat 2.5% OA rate?! Hahaha.

our "old and trusted" opmi has once again, got a prediction spot on..ahha

anyways, Temasek doesn't use CPF funds to invest, if that is what you are insinuating.
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