SBS Transit

SBS Transit

Postby ishak » Wed Aug 13, 2008 6:30 pm

SBS Transit's Q2 profit down 56% to $6.39m

By SAMUEL EE, Singapore Business Times, 13 Aug 2008

Higher fuel and electricity costs put the brakes on SBS Transit's net profit for the second quarter ended June 30, 2008, causing it to fall 56.0 per cent to $6.39 million.

But Q2 group revenue grew by 8.5 per cent to $180.4 million on increased bus and rail fare revenue, higher advertisement revenue and higher rental income.

Fuel and electricity costs in Q2 had surged 73.7 per cent to $52.4 million compared to the previous corresponding quarter, pushing the bus and rail operator's total operating expenses up by 16.0 per cent to $173.6 million.

Earnings per share for the quarter fell to 2.07 cents in Q2 from 4.72 cents in the same quarter last year.

For the first half ended June 30, 2008, SBS Transit's net profit was 31.3 per cent lower at $21.68 million, while interim revenue was 8.5 per cent higher at $357.1 million.

Interim earnings per share slipped to 7.04 cents from 10.31 cents previously.

A one-tier tax-exempt interim dividend of 3.00 cents per ordinary share has been declared.
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SBS Transit

Postby ishak » Mon Sep 08, 2008 9:45 pm

SBS buys 400 Scania buses for $147 mln
Reuters, 08 Sep 2008

Singapore bus operator SBS Transit said on Monday it will buy 400 new buses from Sweden's Scania for $147 million (US$103 million) as part of its fleet renewal programme.

The new Scania V EEV buses will be the first buses in Asia to meet the latest European environmental standards, said SBS Transit, which is a unit of Singapore land transport conglomerate ComfortDelGro.
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SBS Transit - Press Release

Postby ishak » Fri Sep 12, 2008 7:13 pm

SBS TRANSIT INCREASES TRANSFER REBATE; RECEIVES NET FARE INCREASE OF LESS THAN 1%
12 Sep 2008

• Adult ez-link fares will increase by 4 cents – the bulk of which will go towards funding transfer rebates which will be given to commuters who make transfers as part of their journeys
• Transfer rebates will increase from 25 cents to 40 cents. SBS Transit will bear two-thirds of the 15-cents increase
• Children and student fares, student and NS concession pass prices, will remain unchanged
• Assistance schemes totalling $3.6 million including $350,000 worth of transport vouchers will be extended
• Excluding the assistance schemes, SBS Transit will receive a net fare increase of 0.9%

The Public Transport Council (PTC) today announced fare revisions for bus and train fares which will come into effect on 1 October 2008.
Under the new fare structure, adult ez-link fares and senior citizen concession ez-link fares will be increased by 4 cents while adult cash fares will rise by 10 cents. The increase will go largely towards the transfer rebate which is being increased from 25 cents currently to 40 cents. SBS Transit will bear 10 cents of the 15-cents increase.
Children and student fares, as well as prices for student and NS concession passes, will not be increased.
To mitigate the impact of the fare changes, SBS Transit will be extending $3.6 million worth of assistance schemes. This will comprise:

• $350,000 worth of transport vouchers which will be disbursed through the Citizens’ Consultative Committees (CCCs) to complement the assistance they are already rendering to the needy through the CCC ComCare Fund;
• $3 million worth of extended concession hours for the elderly - a concession which SBS Transit has been extending throughout the day since 2005; and
• $250,000 for offering unlimited bus travel with our SeasonPass.

SBS Transit Chief Operating Officer, Mr Gan Juay Kiat, said: “The bulk of the fare adjustment this year goes towards transfer rebates which will benefit commuters who make transfers as part of their journey.”

The fare adjustment, which will yield $5.9 million for a full year, will only provide partial relief for the increased cost pressures the Company faces. Fuel and electricity costs rose by 64%, or $36.0 million, to $92.5 million in the first six months of this year.

SBS Transit has also been investing in new buses and new technology. We have, for example, recently announced that we are investing $147 million in 400 new Euro V buses, bringing the total number of new buses bought in the last four years to 1,100. The latest purchase, which is part of an ongoing exercise to renew SBS Transit’s fleet of 2,800 buses, will bring the total investment in new buses since 2005 to $427 million. Significantly, it will reduce the average age of SBS Transit’s fleet with about 40% of the fleet expected to consist of new buses by the end of 2009.
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Re: SBS Transit

Postby millionairemind » Fri Sep 12, 2008 9:51 pm

September 12, 2008, 3.30 pm (Singapore time)
SBS to make $5.9m extra from fare hike, raises rebates
By LEE U-WEN

SBS Transit has said it will make an extra $5.9 million in revenue per year - an increase of 0.9 per cent - when the higher bus and train fares come into effect starting Oct 1.

This will provide partial relief for the increased cost pressures the company is facing, it said in a statement released on Friday. Fuel and electricity costs rose 64 per cent, or $36 million, to $92.5 million in the first half of 2008, it said.

Adult and senior citizen concession ez-link fares are set to go up by 4 cents, while adult cash fares will rise by 10 cents. Transfer rebates will increase from 25 cents to 40 cents, with SBS Transit bearing 10 cents of this hike.

Children and student fares, as well as prices for student and NS concession passes, will remain unchanged.

To help commuters offset some of these costs, SBS Transit said it would provide $3.6 million worth of assistance schemes, including transport vouchers for the needy and extended concession hours for the elderly.
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Re: SBS Transit

Postby millionairemind » Wed Nov 12, 2008 10:48 pm

Home > Breaking News > Singapore > Story
Nov 12, 2008
SBS Transit profit falls 17%
By Elizabeth Wilmot

BUS and rail operator SBS Transit on Wednesday posted a 17 per cent slump in third quarter net profit to $8.3 million, as higher expenses such as fuel costs eroded stronger revenue.

Revenue for the period ended Sept 30 rose 10.5 per cent year-on-year to $188.2 million.

But operating costs went up 12 per cent to $178.3 million, with fuel and electricity expenses surging 51.9 per cent, or $17.7 million.

Easily the best revenue growth was in the company's rental business, which shot up 94.5 per cent to $3.5 million due to higher rental income from new shops at the bus interchanges.

Turnover from rail operations also rose substantially by 17.3 per cent to $26.1 million, thanks to increase in ridership of the North-East Line and the light rail transit systems of 17.6 per cent and 16.1 per cent respectively.

Revenue growth from bus operations was a relatively modest 8.5 per cent, to $148.1 million. This was mainly due to a 6.1 per cent rise in bus ridership.

In terms of operating profits, bus operations declined a steep 78.2 per cent to $900,000 in the third quarter. This was mainly due to higher fuel cost.

In contrast, operating profits for rail operations surged 92.3 per cent to $2.2 million, mainly owing to higher rail fare revenue.

The advertising business saw a marginal drop in operating profit of 2 per cent to $4.4 million, while operating profits in the rental segment had increased by 71.2 per cent to $2.4 million.

SBS Transit expects its revenue from the bus and rail operations to continue to improve on the back of growth in ridership and fare increases. With the economic downturn, however, the firm expects advertising revenue to slow down.

The cost of diesel and electricity is expected to be lower due to the recent drop in oil prices.

Earnings per ordinary share for the third quarter was 2.70 cents, compared to 3.27 cents for the same quarter last year.

Net asset value as at Sept 30 was 80 cents, up from 77 cents at Dec 31, last year.

SBS Transit's share price fell three cents to close at $1.69 on Wednesday.
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Re: SBS Transit

Postby kennynah » Thu Nov 13, 2008 3:54 am

left hand pays right hand...i dont understand why we are even interested to monitor this make-believe oligopoly
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Re: SBS Transit

Postby millionairemind » Thu Feb 12, 2009 8:24 pm

February 12, 2009, 5.39 pm (Singapore time)

SBS Transit FY08 net profit falls 18.9%

By SAMUEL EE
SBS Transit's net profit for the full year ended Dec 31, 2008 fell 18.9 per cent to $40.58 million, hit by higher fuel and electricty costs, as well as lower interest income on investments.

But group revenue grew 8.9 per cent to $729.6 million due mainly to higher bus and rail fare revenue, along with higher rental income.

SBST is Singapore's dominant bus operator, running more than two-thirds of all public buses here. It also operates the North-east MRT Line and two LRTs.
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Re: SBS Transit

Postby millionairemind » Fri May 14, 2010 6:24 pm

May 14, 2010, 5.54 pm (Singapore time)

SBS Transit's Q1 profit falls 12.7% to $16.4 mln


By SAMUEL EE

Lower bus fare revenue was the main reason for SBS Transit's group revenue falling 2.8 per cent to $174.6 million for the first quarter ended March 31, 2010, and this led net profit to slump 12.7 per cent to $16.4 million.

The listed unit of land transport giant ComfortDelGro said this was partially offset by higher rail fare revenue and advertisement revenue.

Operating expenses also dropped 2.1 per cent to $155.6 million, mainly due to lower fuel and electricity costs, lower repairs and maintenance and lower other operating expenses but partially offset by higher depreciation expenses.

Group operating profit for Q1 fell 7.8 per cent to $19.0 million.

Looking ahead, SBST said bus ridership is expected to be impacted with the progressive opening of the Circle MRT Line.
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Re: SBS Transit

Postby kennynah » Fri May 14, 2010 6:41 pm

like all land transportation sector...it is considered a "defensive" play.... in hard times, people go for them as a safety haven...but if economy is deemed to have picked up...market may move to more aggressive risk plays...like tech, consumer, telcos, etc...
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Re: SBS Transit

Postby winston » Wed Aug 31, 2011 4:09 pm

Not vested

Shares of bus and rail operator SBS Transit rose 5.1 percent to S$1.84 after it said it had won the tender to operate Singapore's fifth railway line, the Downtown Line.

Source: Reuters
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