25-10-2019, 03:47 PM
(25-10-2019, 02:05 PM)specuvestor Wrote:(25-10-2019, 12:41 PM)weijian Wrote: The secret to VICOM's moat is not regulation nor the duopoly, but the pittance of how much it cost to inspect your vehicle - It costs 62sgd every 2years. First benchmark this to the cost of owning the vehicle (>100k) and then the other necessary costs of operating one on a monthly basis (insurance = 1XXsgd, season parking = 1XXsgd, fuel = 1XXsgd), and 62sgd every 2years (or yearly if vehicle >10years old) becomes really a negligible cost. It will probably fly under the radar for some time.
But of course, that doesn't stop some folks (eg. the taxi MP) from trying to poke holes into the inspection regime/prices every now and then.
https://www.mot.gov.sg/news-centre/news/...te%20Cars/
https://www.mot.gov.sg/news-centre/news/...20Onwards/
To be fair anything statutory / mandatory and yet privately owned with little competition is a potential gravy train... and has been used regularly and globally. For example direct award of VEP system to TCSens Sdn Bhd.
the big MY gravy train was MY. EG services' type of e-govt services under Najib's time. Seems like that gravy train still chugging along fine....
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster