Lancheow SMRT can't do its core business properly, now want to do Telco business

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An honorable member of the Coffee Shop Has Just Posted the Following:

Fucking Despond Quack can't even get his ship in order, now want to start a new business and get a Telco license to do wireless hand phone business. Fucking shit. Why don't he make sure all his trains have no break downs and that passengers can get on them instead of waiting for 5 or 6 trains to go by because they are so packed. That is the issue with the PAP, people are put in the right placed to do the right job, and those that are placed there by the PAP to do a job end up doing another type of job. Only in singapore can this shit happen. Now SMRT (a GLC) will compete with other companies to get a fourth Telco license so that it can compete with SIngtel, etc for Telco business (who themselves are other GLCs too). This is like fake competition, money go from one hand to another. SMRT has a monopoly and cannot even kowtim that, now want to go and against established Telcos. Really seems to me that this PAP elites fucks are doing this out of ego than out of financial sense.



In an announcement after the market closed today, transport operator SMRT announced that it may invest up to S$34.5 million in one of Singapore's fourth telco contender.

This is to "leverage on synergies that can be derived from the company’s extensive media presence and commuter reach", SMRT said in the statement.

The company SMRT is partnering with, for the license bid, is OMGTEL Pte. Ltd., a company incorporated in Singapore by Consistel Pte Ltd on 20 October 2014 for the purpose of bidding for the country's fourth telco license.

According to media reports, Consistel came to prominence after a $1.33 billion deal with the Sports Hub to build and host all its wireless systems. Consistel had declared its intention to bid for the fourth telco licence in October last year. It is in competition with local fibre broadband service provider MyRepublic.

SMRT said it has been offered an opportunity to invest up to $34.5 million via an option to subscribe for shares in OMG -- the exercise of the option is subject to, among others, the attainment of the telco license by OMG.

SMRT further added in its statement that the agreement is not expected to have a material impact on its financial performance for the financial year ending 31 March 2016.


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