Monday, August 6, 2012

Hello Tuck Yew, are SIngaporeans being 'tucked' again?

Tharman takes $1.1 billion  Singaporean taxpayer's money [$1.1 billion Bus Services Enhancement Fund] to help your ministry to help ComfortDelgro to buy buses because you and your PAP colleagues have screwed Singapore by importing too many foreigners too soon. Hence, overcrowding everything especially buses!

Now ComfortDelGro Cabcharge, a joint venture between Singapore multinational ComfortDelGro and locally-listed Cabcharge Australia, said yesterday they would acquire Deane's Transit Group, including Transborder Express, for $53 million. [Link]

Are you and Tharman neighbourhood bullies who demand protection money from us citizens and pass it to your boss so that boss's wife can use the ill-gotten money to play jackpot at the gambling den, casino? ComfortDelgo is part of Temasek? No?


The Canberra Times: Foreign firm to pay $53m for Qbn buses
Date: August 3, 2012
By: Christopher Knaus


Deane's Buslines will be bought out by a foreign transport giant, in a deal not expected to drastically change the Queanbeyan-based bus service.


ComfortDelGro Cabcharge, a joint venture between Singapore multinational ComfortDelGro and locally-listed Cabcharge Australia, said yesterday they would acquire Deane's Transit Group, including Transborder Express, for $53 million.


The deal has not raised any short-term fears over job losses, or the erosion of conditions or wages for local workers. The current bus routes, most of which are government-contracted, are also expected to remain the same.

The 25-year-old Deane's Transit Group runs a fleet of 97 buses from two depots, with services spanning across Queanbeyan, Canberra, Yass, Bungendore and other areas of south-eastern NSW.
Transport Workers Union ACT sub branch secretary Klaus Pinkas said the proposed buyout was not unexpected.


He said the union welcomed commitments made on wages and conditions, but said it would wait to see how the acquisition would affect the bus company in the longer term.
In a statement from its Singapore headquarters, ComfortDelGro made note of the huge population growth in Queanbeyan, with increases of 70 per cent in 15 years and projections of 50 per cent growth in the next decade.


''About 70 per cent of Queanbeyan's adult population works in Canberra, translating into strong travel demand for bus services,'' the statement read.
The acquisition still needs to be ticked off by Australian regulators.
The company has been buying up local transport across Australia since 2005, and now owns services in NSW, Victoria, and Western Australia.


It now claims to be the largest private bus operator in Australia, owning more than 1500 buses, and has hinted at further expansion. ''Australia's strong economy and continued population growth has translated into ever-growing demand for transport services,'' ComfortDelGro managing director Kua Hong Pak said. 'We remain excited about prospects - not just in the cities we are in but in new regions as well,'' he said.


ComfortDelGro also has interests in China, Britain, Ireland, Vietnam and Malaysia.  


How do you guys sleep at night?

feedmetothefish



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At August 6, 2012 at 9:41 AM , Anonymous Anonymous said...

Oh, the response is easy : "XXX is a publicly listed company and this is a matter for its board to decide. The Govt does not interfere with their commercial decisions".

That's what they say ALL THE TIME.

And then, when it comes to the $1b sweetheart deal, its suddenly not a commercial decision anymore.


Think about it : Which other publicly listed company can get $1bn for expansion, without the funds being either an equity (which then dilutes existing shareholders) or a loan (which then gets repaid)? If this were an SME asking the Govt for $1m so that it can expand its bus service network, the Govt will scrutinise the SME upside down and chances are, ask the SME to fly kite.

And good job in catching the investment NTUC is making in Australia while getting the sweetheart deal fr the Sgp Govt.

 
At August 6, 2012 at 11:06 AM , Anonymous Anonymous said...

Indirect cash injections into Temasek linked companies to make it look beautiful, else how to get 17% annual returns every year.

 
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At August 6, 2012 at 7:10 PM , Anonymous Anonymous said...

As much as I HATE to agree with Anonymous (August 6, 2012 4:14 PM) on this...

/// Me? afraid of 2016? Ha! ha! ha! ha!... ///

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At August 8, 2012 at 6:43 PM , Anonymous Anonymous said...

Actually, there was loss in dubai, a train company operating taxi service there, got their assets (taxis) traded by the drivers across state-lines for quick profit. In the end, the operations in M.E was closed down, and money wasn't well spent, it was lost completely, the guys i know were called back to SG after the operations failed, to continue working in the parent company.

 
At August 10, 2012 at 10:50 PM , Anonymous Anonymous said...

The local operations of the PAP- controlled Temasek GLC has been bankrolling its expansions abroad for the past decade.

Singapore operations of delgro-sbs at one point accounts for 75% of its group profits coming from this tiny market in SG.

All at whose expense?

PAP has ALLOWED this to happen and together with the Temsek, a

PAP-Temesek duality model is created to max. profits from its own citizens in a manner many would say a gimmick privatisation, whose hard earned

money of lower income group made to bear with ever increasing transport fares in tandem with a compliant PTC.

Such a model where PAP and Temasek are just the 2 sides of the same coin is just not in the best interests of Singapore citizens.

 
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My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

BORROWERS APPLICATION DETAILS


1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..

Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com

 
At August 28, 2016 at 10:11 AM , Blogger Dr Purva Pius said...

Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

BORROWERS APPLICATION DETAILS


1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..

Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com

 
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