SBS Transit

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Rainbow 
SBS Mr Lim Jit Poh retired
https://links.sgx.com/FileOpen/SBS%20Tra...eID=653193

“I believe the time is right for me to hand over the reins to a new Chairman who will lead the Group through its next phase of growth. This is part of the renewal of the Board which began four years ago. The Board, as it stands now, is well balanced in terms of tenure, age and gender. The strength and expertise that is currently in place will be well placed to ensure that SBS Transit grows from strength to strength going forward,” said Mr Lim.

All the best, Mr Lim.

Heart
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A look into 2 stocks to ride the recovery of the Public Transport sector that could see tailwinds ahead with the inflationary environment.

Click here for the Full Article:
https://thebigfatwhale.com/investing-in-...rnational/
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I thought the answer at item (iv) is pretty interesting. That said, item (ii) does sound highly disturbing though.

MINUTES OF THE THIRTIETH ANNUAL GENERAL MEETING OF SBS TRANSIT LTD (“COMPANY”) HELD ON THURSDAY, 27 APRIL 2023 AT 10.00 A.M. VIA ELECTRONIC MEANS AND AT THE AUDITORIUM, SINGAPORE CHINESE CULTURAL CENTRE, 1 STRAITS BOULEVARD, SINGAPORE 018906

GCEO emphasized that the Company remain committed to safety, operational excellence, sustainability, staff development, and providing delightful commuting experiences to commuters, while striving to give its shareholders a fair and reasonable return

Responding to the shareholder’s question on what would be considered to be a fair and reasonable return, Chairman said that many factors have to be taken into account when considering this question, including the following:

(i) The Group’s business was in a regulated industry, where many factors, including fares were not within the Group’s control.
(ii) The operating environment was highly competitive and foreign public transport operators have demonstrated that they were prepared to bid very competitively with low margins, which translated to the Group having to accept low margins if it wanted to maintain its business.
(iii) The Group faced cost pressures from labour and energy costs.
(iv) Shareholders should naturally compare the Group’s returns with risk-free investments, e.g. mid-termed fixed deposits.
(v) As fares were regulated, the Group would advocate with the authorities for its returns to be comparable with such risk-free investments, so that with diligence, innovation and productivity, the Group could generate a reasonable premium over medium-term fixed deposit rate.

AGM 2022 MoM:
https://links.sgx.com/FileOpen/SBS%20Tra...eID=759699
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