Day: January 21, 2008

Cometh The Bear?

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The Straits Times Index is East Asia’s ‘best’ performing market, beating the rest of the markets by leading them in falling 6.03%.

The lack of confidence in the stimulus package released by the Bush Administration Regime in resuscitating the U.S. economy is the main cause of the fall, coupled with a Chinese warning on the sub-prime exposure of major Chinese banks like the Bank of China and the Industrial & Commerce Bank.

Is the Bear here to stay?

INDEX Mkt Close Change % Change
SSE A SHARE IDX 5157.45 -279.43 -5.14%
NIKKEI 225 INDEX 13325.94 -535.35 -3.86%
HANG SENG INDEX 23818.86 -1383.01 -5.49%
IDX INDEX 2485.88 -125.25 -4.80%
KOSPI 1683.56 -51.16 -2.95%
PSEi 3152.30 -16.00 -0.51%
THAILAND SET 766.53 -23.14 -2.93%
TAIWAN WEIGHTED 8110.20 -74.45 -0.91%
VIETNAM INDEX 833.88 -13.17 -1.55%
KLSE COMPOSITE 1408.60 -30.89 -2.15%
STRAITS TIMES INDEX 2917.15 -187.10 -6.03%

[Fiction] Transport Operators Doing Their All To Help Cabbies…

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MRT services between Pasir Ris and Tanah Merah stations disrupted
By Luan ZooPom, Channel NelsonAsia Posted: 21 January 2008 1112 hrs

There are no westbound and eastbound train services between Pasir Ris and Tanah Merah MRT Stations this morning.

SickMRT says the disruption was part of SickMRT’s efforts to help cabbies increase ridership ever since the taxi fare hike last December. SickMRT reiterated that the operator will always do all it could to assist cabbies.

Meantime, as the first eastbound train departing Tanah Merah Station at 5.16am was the first to be affected, this also means an increase in cab bookings due to the lack of cabs in the eastern area, which has proven to be a windfall for both DisComfort Mango and SickMRT.

Whether this has proven to be a success is under evaluation and more such disruptions maybe considered in the future, with the next in either the Yishun – Woodlands and Jurong East – Boon Lay stretch during the morning peak hours and the Tanjong Pagar – City Hall stretch during the evening peak hours.

Also, with the increase in taxis going into town during this period, ERP collections is also expected to spike today. The transport operators will take this as part of their corporate responsibility to the nation and consider this a manner of contributing to the revenue of the nation. If all goes well, the transport operators expects to contribute up to 5% of the nations ERP contribution by 2020 through increase ridership in cabs.