Saturday, October 30, 2004

"Huge MRT profits question fare hikes"

In 2002 when SMRT raised fares, its profits increased 27 per cent. Last year, it was 24 per cent and its first quarter profits this year increased by 175 per cent.

Now, its latest results for the six months ended Sept 30, show that net profit rose 68 per cent to $48.6 million for the interim.

Makes you wonder again whether the MRT fares hike was justified in the first place?

My guess: greed?