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SMRT
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cobrajr
Member |
31-Jul-2013 08:59
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Ridership information update http://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/Stats_in_Brief_2013.pdf |
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WanSiTong
Master |
30-Jul-2013 23:02
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What is most importance to the stake holders is : service level & the bottom lines must be improved with so much increased in staff cost!
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WanSiTong
Master |
30-Jul-2013 22:50
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Staff cost rose 23.4% to $112.7 million due to increased headcount for train
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Juzztrade
Veteran |
30-Jul-2013 22:17
Yells: "Techincal and long term investor" |
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Hire too many consultants. My view only.
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WanSiTong
Master |
30-Jul-2013 22:06
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Net profit dropped $20.1m to $16.3m due mainly to the increase in staff cost of $21.4m (up 23.4% from $91.3m to $112.7m)How can the staff cost increase so much ?
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Octavia
Elite |
30-Jul-2013 21:47
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SMRT Corporation's first-quarter net profit plunged 55.2 per cent to S$16.3 million on higher costs, the group revealed after the market closed on Tuesday. Revenue for the same period ended June 30, 2013 inched up 3.5 per cent to S$284.8 million, but operating expenses grew 11 per cent to S$272.1 million, while finance costs almost tripled to S$2.6 million. Earnings per share for the group stood at 1.1 Singapore cents for the quarter, down from 2.4 Singapore cents during the corresponding period the year before. The group's counter closed half a cent lower at S$1.43, before it released the results. |
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ShareWithMe
Veteran |
19-May-2013 17:58
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Technical Rebound ? | ||||
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ranadeepb
Member |
18-May-2013 07:43
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SMRT stock may have reached the bottom. Any opinions? | ||||
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Sporeguy
Elite |
03-May-2013 11:10
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Sold off all, no future for SMRT with gov subcumbed to public pressure. | ||||
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Henry$$$
Senior |
02-May-2013 14:40
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CEO hisself also claimed SMRT is unsustainable business model!!! Faster run away from this counter!! | ||||
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luketoh
Senior |
02-May-2013 14:05
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Jia latz leh....what happen?? :( | ||||
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krisluke
Supreme |
02-May-2013 11:51
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SMRT Corporation - Not a stock to own What is the news? SMRT (Sell Target Price: $0.93) reported losses of S$12mn for 4QFY13. The losses in the quarter were driven by an S$17.3mn impairment charge on Shenzhen Zona, significantly higher staff cost (+28.5%) and repair & maintenance expenses (+41.6%). With significantly lower profits for the year, SMRT cut its final DPS to 1.50cents, representing a full year payout of 2.50cents (45.6% of FY13 PATMI). Outlook statement remains negative as management highlighted continued increase in operating costs and expects profitability to be impacted in FY2014. How do we view this?With the company’s earlier profit warning, the quarterly losses were well expected by the market. However, the magnitude of the dividend cut surprised us (and probably consensus), reflecting a dividend yield of merely 1.7% at the current price. With operating costs trending north, we expect SMRT to report structurally lower profits in our forecast years. Investment Actions?Despite a sharp decline in recent months, we believe that the stock of SMRT had not bottomed out. We maintain our Sell recommendation as the unsustainable business model, structurally lower earnings, rising leverage and poor dividend yield support gives investors little reason to own this stock. Unless there is a radical change in the business model, we expect a multi-year de-rating of this stock. With poor cashflow visibility, we switch to our blended valuation method to a simple P/E model pegged to 15X FY14E. Source: PhillipCapital Research - 2 May 2013 |
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Octavia
Elite |
05-Apr-2013 12:27
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Maybank Kim Eng :Sell call TP @$1.19 The previously unimaginable has happened. SMRT is expecting its first ever quarterly loss in its history for 4QFY3/13. Escalating operating costs and a SGD17m impairment in goodwill in its associate, Shenzhen ZONA, are the primary causes of the loss. We are expecting the PATMI loss to come in at ~SGD2m for the quarter, which still points to profitability at a core level excluding the effects of the impairment.However we expect final dividends to be cut as a result of this announcement. We were among the earliest to downgrade SMRT to a SELL in early 2012. This loss guidance validates our sustained SELL call, and we are reiterating it with a reduced, Street-low target price of SGD1.19. |
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Octavia
Elite |
02-Apr-2013 09:52
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SMRT Corporation: More impairments? We view the recent goodwill impairment announcement as a way for SMRT’s new management to turn the page on its past overseas ventures although the timing did take us by surprise. While the Shenzhen ZONA venture failed to yield the desired results, its performance only turned negative over the past two quarters. Nonetheless, we feel that management review of existing operations is still ongoing, and we could see further impairments – particularly on the SG bus business – down the line. In the interim, we expect to see a net loss in excess of S$4.3m for 4QCY13, and a possible halving of FY12’s final dividend. As we roll our valuations forward to include FY15, our fair value declines to S$1.51 from S$1.62 previously with higher operating expenses and a lack of growth opportunities to blame. We maintain HOLD on SMRT and reiterate our view that an inflection point is unlikely anytime soon. (Lim Siyi) |
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cheongsl
Master |
01-Apr-2013 21:36
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China Railway is nothing better in reputation then SMRT. 23rd Jul 2011, Wen zhou train collision killed 40 people and injured at least 192. 28th september 2011, Shanghai closes 13 stations due to train collision, more then 270 people injured. The recent formation of the China Railway Corporation which splitout from the Railway ministry, register asset is only 1,036billion RMB. But the total dept that the China Railway Corporation is 2,660billion RMB. This is a big sum not a small one, this is equivalent to European crisis national debt. The government given the target is to complete the 120,000km of railway by 2015, after so many years the railway ministry only complete 98,000km, which means 22,000km in 1 and 3/4years. That is why the railway ministry was being breakup to ensure that the government would not be blame for not meeting the target. With the formation of corporation, the government in one way push away the responsibility of meeting the target, they also push away the huge debt, for the pass development. Leave behind is a huge debt corporate that need to return the huge debt. Beside also the risky Bank default if China Railway Corporation fail to repay the debt. Just the interest to repay is already 25billion yearly. With such a huge dept as a corporation, it will be difficult for bank to continue to finance them(previously as it is borrow to government, now the government debt become corporate debt). Thus the fast and easy way to reduce debt will be by selling their asset or through corporation with others. Thus those involve in the operation or Reits or infrastructure funds might be opening their eyes big to decide which city metro to take on.
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kelvinLim123
Master |
01-Apr-2013 19:08
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Navie to think they let SMRT run theirs, after all these bad publicity abt those major breakdown.
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kelvinLim123
Master |
01-Apr-2013 19:06
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This one stop at exactly 1.54 , exactly as i stated it last week. Shorted with little profit. I cannot say further, i know the pain of those vested. I shd not make it more painful for you. But if i am a stake holder, i think the future look bleak , I would sell, and move on. In fact, today u shd have shorted to hedge. I think future div is now a big question mark? and now they are talking about free travel? I m still alittle confuse abt the news. but free at the expense of profitability of SMRT, unless govt pay.
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cheongsl
Master |
30-Mar-2013 13:09
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China railway might soon start selling asset to raise money to cover their dept, not too sure will SMRT as an operator interested to operate China metro... | ||||
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kelvinLim123
Master |
30-Mar-2013 00:08
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This one i think Monday we see 1.54. my guess. |
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iyipyc
Member |
29-Mar-2013 21:33
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Ex-CEO Saw Peck Hwa took care of share holders' interest to raise share price... The new CEO Desmond Kuek is tasked to take care of the service reliability and safey, all these works need to spend a lot $. Also more $ will be spent in future and no time to do other thing. This makes a big difference between both of them. So moving forwar, it is an indication whether we should buy SMRT shares now.
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