Monday, December 19, 2011

De-rating SMRT

I just looked at the numbers at SGX. The STI is down 1.3% and SMRT has given up 2.7%

Very likely over the weekend, analysts have made estimates on how much more resources must be added and/or diverted toward better maintenance of the train system.

The CEO remains in her job but to any thinking person, she has lost all credibility. She said a repeat of the Thursday breakdown wouldn't be repeated. It didn't take long for the system to fail again. Two days later, on Saturday morning, the system failed again. This CEO didn't know what she was talking about.

I wonder why they want to keep her as a CEO for? What can she contribute except to try her best protecting her flawed legacy? Unless the Transport Ministry install a supervisor over all of them, senior management at SMRT would be busy trying to protect their rice bowls.

They should put her on no pay leave immediately available to the investigating committee to answer questions.

Update: Found this video on AsiaOne Forum

1 comment:

  1. The best part - they hired a PR (she's not a converted Singaporeans) all these years to helm one of the most important institution in SG.
    Like you say, she should be put on garden leave while investigation goes on.
    The best is yet to come. We will see what happens when the peak load reaches max capacity on New Year's Eve. That's the worst concern everybody should bear in mind.