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Post by oldman on Jan 30, 2014 13:30:39 GMT 7
Kenfish, welcome to our forums. Sadly, most CEOs know that their time running the company is limited. They might as well get the most out of their time and hence, their outlook is usually short term. Easiest way to immediately boost profit is to slash maintenance expenses. I am sure every CEO is smart enough to know that there may be issues in the future but they also know that they are unlikely to be around by then. Companies focusing only on the financial scorecard is like individual focusing only in career, ignoring health, relationship and family. Working short term but not sustainble
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SMRT
Jan 30, 2014 13:31:57 GMT 7
Post by zuolun on Jan 30, 2014 13:31:57 GMT 7
Companies focusing only on the financial scorecard is like individual focusing only in career, ignoring health, relationship and family. Working short term but not sustainble The worst thing is that, the entire body is falling apart yet the individual is not aware!
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Post by stockpicker on Jan 30, 2014 13:43:05 GMT 7
Whatever the reasons may be, the new team has just taken over and they will need time to restructure the work. If the previous team has scaled down maintenance to look for profit, then it would easily take another 1.5 years to see any result (Take 3 months to recruit experienced new team, 3 months to familiarize, another 9 months to implement rectification measures). when we learnt that cable ties were used to fix the dropping jaws, we sensed that there were structural problems in SMRT's maintenance work; for example, the experienced could have left and the inexperienced taking charge. What was uncomfortable is the sudden increase in the long term debts last year. Could this be choked up by the platform screened doors, the CCTV and the lift installations? Isn't the Government helping them as these are part and parcel of the infrastructure work that were not first completed by the Government before handling over the infrastructures? But then, these would only cost about $30-40 millions and is a one time cost that could have expended in 2012.
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SMRT
Jan 30, 2014 14:15:43 GMT 7
Post by oldman on Jan 30, 2014 14:15:43 GMT 7
From my previous posting: Trade payables of $272 mil compared to $577 mil ( payment of $392.7 mil for 17 trains) pertama.freeforums.net/post/2192/threadWhatever the reasons may be, the new team has just taken over and they will need time to restructure the work. If the previous team has scaled down maintenance to look for profit, then it would easily take another 1.5 years to see any result (Take 3 months to recruit experienced new team, 3 months to familiarize, another 9 months to implement rectification measures). when we learnt that cable ties were used to fix the dropping jaws, we sensed that there were structural problems in SMRT's maintenance work; for example, the experienced could have left and the inexperienced taking charge. What was uncomfortable is the sudden increase in the long term debts last year. Could this be choked up by the platform screened doors, the CCTV and the lift installations? Isn't the Government helping them as these are part and parcel of the infrastructure work that were not first completed by the Government before handling over the infrastructures? But then, these would only cost about $30-40 millions and is a one time cost that could have expended in 2012.
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SMRT
Jan 30, 2014 14:44:33 GMT 7
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Post by zuolun on Jan 30, 2014 14:44:33 GMT 7
oldman, 将帅无能,累死三军。Incompetent leader is the root cause of annihilation.The key to success in business is always about leadership. Whatever the reasons may be, the new team has just taken over and they will need time to restructure the work. If the previous team has scaled down maintenance to look for profit, then it would easily take another 1.5 years to see any result (Take 3 months to recruit experienced new team, 3 months to familiarize, another 9 months to implement rectification measures). when we learnt that cable ties were used to fix the dropping jaws, we sensed that there were structural problems in SMRT's maintenance work; for example, the experienced could have left and the inexperienced taking charge. What was uncomfortable is the sudden increase in the long term debts last year. Could this be choked up by the platform screened doors, the CCTV and the lift installations? Isn't the Government helping them as these are part and parcel of the infrastructure work that were not first completed by the Government before handling over the infrastructures? But then, these would only cost about $30-40 millions and is a one time cost that could have expended in 2012. Why is SMRT Raising Fares? — 29 Jan 2014 Did You Know Series: Desmond Kuek Bak Chye (郭木财) — 20 Jan 2014 Is Desmond Kuek a responsible SMRT CEO? — 2 Dec 2012
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Post by oldman on Jan 30, 2014 17:38:56 GMT 7
Zuolun, when I ran SI, I eat and sleep SI. I dream of SI most nights and use SI forums, SI Station and all our related products. I also subscribe to competitive products to learn first hand how SI can be better than our competitors. This is what it takes to provide leadership to a company. I don't think there is any shortcut to eating & breathing the company that you run.
I don't believe leaders who tell me that they can be helicopter pilots and can lead without experiencing the products of their companies. There is nothing better than to use your own products, not some of the time, but all the time. When your life depends on your products, you will surely make these the best products available.
Won't it be nice that one day in the future, our MRT system is so reliable and trustworthy that it becomes the surest way of reaching your meeting place on time. Yes, imagine if the MRT is seamlessly linked to the taxi system. Sure it can be done if one tries hard enough.
Maybe I am asking for too much but this is what I expect of myself when I ran my own company.
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SMRT
Jan 31, 2014 10:04:54 GMT 7
oldman likes this
Post by zuolun on Jan 31, 2014 10:04:54 GMT 7
Zuolun, when I ran SI, I eat and sleep SI. I dream of SI most nights and use SI forums, SI Station and all our related products. I also subscribe to competitive products to learn first hand how SI can be better than our competitors. This is what it takes to provide leadership to a company. I don't think there is any shortcut to eating & breathing the company that you run. I don't believe leaders who tell me that they can be helicopter pilots and can lead without experiencing the products of their companies. There is nothing better than to use your own products, not some of the time, but all the time. When your life depends on your products, you will surely make these the best products available. Won't it be nice that one day in the future, our MRT system is so reliable and trustworthy that it becomes the surest way of reaching your meeting place on time. Yes, imagine if the MRT is seamlessly linked to the taxi system. Sure it can be done if one tries hard enough. Maybe I am asking for too much but this is what I expect of myself when I ran my own company. oldman, The risk and responsibility between a CEO of a listed company and the sole owner (entrepreneur) of a company are entirely different. There is a typical cultural attitude found in Asia especially among the China-Chinese in the PRC — If it’s not harming my family why do I care? Even if it's damaging and destructive it doesn't matter to the CEO of the listed company as long as it continues to be profitable and business is as usual. This type of unethical behaviour is found in most top management of S-chips listed in the SGX and especially in the melamine milk powder scandal in China in 2008. Kickback(回佣 / 回扣)A kickback is a payment of money, favors, or some other valuable to another individual to perform a certain desired action or to make an important decision in the kickbacker's favor. The desired action is often a referral that results in a transaction that benefits the person who paid the kickback. A kickback can be either legal or illegal, depending on the circumstances of the action. A kickback is generally done in secret. In investing, a common kickback is a broker's reduced commission charged to someone who invests frequently through the broker. Another example is referral payments for finding clients. Kickbacks occur not only in business, but also in government sectors. The US government has laws that prohibit kickback behavior. Example:
The CEO of a listed company, ABC invested company's fund, $1 billion in a company called XYZ with full knowledge that it would go bankrupt soon. Prior to the investment decision, he had liaised a 50/50 split with the owner of company XYZ that each would get $500 million once he got the money. After a while, company XYZ really went bankrupt. It didn't affect the CEO personally as the $1 billion in losses were attributable to the listed company ABC. So what's rightfully company ABC’s money has now become the CEO's personal money, and it’s all legal and above board. 贪污风险知多少(简体版) 测试一: 回佣
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SMRT
Jan 31, 2014 10:40:58 GMT 7
zuolun likes this
Post by oldman on Jan 31, 2014 10:40:58 GMT 7
zuolun , I agree. There is a difference between self made entrepreneurs and professional hires. There is also a difference between professional hires who manage private companies as compared to government companies. I don't think our government fully recognises these differences as top government salaries are pegged against comparable private company salaries.
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SMRT
Jan 31, 2014 11:15:26 GMT 7
oldman likes this
Post by zuolun on Jan 31, 2014 11:15:26 GMT 7
zuolun , I agree. There is a difference between self made entrepreneurs and professional hires. There is also a difference between professional hires who manage private companies as compared to government companies. I don't think our government fully recognises these differences as top government salaries are pegged against comparable private company salaries. oldman, It's quite unlikely and impossible that our government who had initiated and implemented the super-scale salary structure for senior government officials for the public sectors not knowing the significance of doing it years ago (Supply & Demand Determine Price). And I also believe that our government knew "people are living longer" that's why the Government Pension Scheme was abolished and replaced by the CPF scheme. Ministerial Salary Review - Press Conference, Jan 4 2012
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Post by stockpicker on Jan 31, 2014 16:48:00 GMT 7
Zuolun, when I ran SI, I eat and sleep SI. I dream of SI most nights and use SI forums, SI Station and all our related products. I also subscribe to competitive products to learn first hand how SI can be better than our competitors. This is what it takes to provide leadership to a company. I don't think there is any shortcut to eating & breathing the company that you run. I don't believe leaders who tell me that they can be helicopter pilots and can lead without experiencing the products of their companies. There is nothing better than to use your own products, not some of the time, but all the time. When your life depends on your products, you will surely make these the best products available. Won't it be nice that one day in the future, our MRT system is so reliable and trustworthy that it becomes the surest way of reaching your meeting place on time. Yes, imagine if the MRT is seamlessly linked to the taxi system. Sure it can be done if one tries hard enough. Maybe I am asking for too much but this is what I expect of myself when I ran my own company. Oldman, agree. Working in private and statutory boards(SB) before. The philosophy and the way doing businesses are completely different. The former will slog for "gains and prosperities", the latter, more for "name and status". In later years, the "empires" of the SBs was dismembered one by one or privatized. Now the SBs are nothing but paper tigers; they are now practically doing just planning works. When I worked in private, we have a small teams and made our own decisions and face management with our results. In SBs, we have very large team, dealing with S$millions if not $Billions projects and have meetings almost every other hours to produce nothing much except paper works; works usually done through remote controls and self-piloting. The juniors do most of the work, the seniors do the cleaning up and the dirty work and the executives face the music and handle all the fire-fighting. Think many Government linked Corporation like SMRT are just borne to be another SBs, filling the vacuum left over by the SBs, taking over works such as the project execution and the maintenance work. Is there any change in the management style, I wondered?
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Post by zuolun on Feb 2, 2014 9:48:28 GMT 7
Companies focusing only on the financial scorecard is like individual focusing only in career, ignoring health, relationship and family. Working short term but not sustainble The worst thing is that, the entire body is falling apart yet the individual is not aware! Elderly man found unconscious near MRT track 'not hit by train' — 2 Feb 2014 What is wrong with SMRT mgmt?" — 2 Feb 2014 "...how the old man managed to evade attention of the station control, climb over the platform door and walk 900 meters on the track in the direction of Tanah Merah station."
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SMRT
Feb 2, 2014 22:39:17 GMT 7
Post by odie on Feb 2, 2014 22:39:17 GMT 7
What is wrong with SMRT mgmt?" — 2 Feb 2014 "...how the old man managed to evade attention of the station control, climb over the platform door and walk 900 meters on the track in the direction of Tanah Merah station." zuolun bro, i zm also puzzled, perhaps it wasn't peak hours so no station control was available.....
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Post by zuolun on Feb 3, 2014 9:01:41 GMT 7
zuolun bro, i zm also puzzled, perhaps it wasn't peak hours so no station control was available..... odie, 马死落地行。When face with adversities; think of alternative ways to survive. When ex-CEO Saw Phaik Hwa utilized her vast retail experience to survive during SARS in 2003 (she worked in SMRT from Dec 2002 to 6 Jan 2012), the current SMRT CEO, Desmond Kuek had ample opportunities to prove his leadership during crisis but he gave it a miss... oldman, 将帅无能,累死三军。Incompetent leader is the root cause of annihilation.The key to success in business is always about leadership. Chart-wise MTR and SMRT moved in lockstep from 2000 to 2011 (longterm strong uptrend). The divergence started only after ex-CEO Saw Phaik Hwa left SMRT on Jan 2012.
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Post by zuolun on Feb 6, 2014 13:23:17 GMT 7
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Post by zuolun on Feb 6, 2014 16:48:15 GMT 7
SMRT's climatic sell off is due to bearish BB breakout + Bear Flag breakout. Alternative view:SMRT — Bearish BB breakout + Bear Flag breakoutSMRT closed with a black marubozu @ S$1.075 (-0.025, -2.3%) on 6 Feb 2014. 咸鱼 (Salted Fish)
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