Concluding trilogy of SG Elites Can't Compete:
- ... Can't compete with Japanese Elites
- ... Can't compete with South Koreans Elites
- ... Can't Compete so Suck Locals Dry (You are reading this now)
Real case studies are what i lacked in my 2 earlier blogposts. This month has been a fruitful month in which financial results from air, sea & land by the govt-linked companies are published.
The hybrid regime parachutes many of its scholars into govt-linked companies. The peasants are told & brainwashed that these scholars are the creme de la creme.
Look at these scholars 'creme de la creme' performance versus their overseas counterparts.
Taking a Beating Competing at Sea
Widening Loss for Singapore's Neptune Orient Lines
Net loss of $54 million in 2nd quarter of 2014, more than the $35 million loss in the same period last year.
NOL net income data extracted from Yahoo Finance. This sea logistics govt-linked business sold their HQ in 2012 in a bid to stem the bleeding. Is now 2014 with widening losses as reported above.
Maersk Line ia danish shipping company. Profit data from Maersk annual financial reports. It took a big hit in 2011 like NOL but has since recovered. With NOL's mounting losses, it show SG elites can't compete with their overseas counterparts at sea.
Taking a Beating Competing in Air:
SIA nosedives with 71% lower profits
71% drop in net profit in the fiscal first quarter(april-jun) of this year. Subsidiary Tiger Airways bleeding. I'm not surprised if the Scoot subsidiary is also bleeding.
Look at the massive drop in net profit since 2011. They have trouble competing with foreign airlines.
Hammered in Air & Sea so Resort to Captive Customers on Tiny Island:
Different companies have different financial calendars but is same period for normal calendar.
SMRT's Q1 profit rises 37%
SBS Transit profit up 57% in Q2
SMRT & SBS Transit are the govt-linked public transport companies. More & more breakdowns & we just had a fare hike in april. In fact, the govt-linked companies do not call it breakdowns but refer to it as "service disruption" - bunch of cowards.
If not for the duopoly status to fleece commuters on this tiny island, they would already be badly hammered like the air & sea businesses if competing with foreign counterparts.
Bunch of Useless SG Elites
The financial results reinforce what economist Chang Ha Joon has stated that a reason the citizens in other developed nations have better incomes because their elites can compete & thus can lift the masses' salaries up.
SG elites can't lift whether they are in govt ministries or govt-linked companies. They have little to no 'strength' despite so highly paid.
- It is the useless SG elites who can't compete against their overseas counterparts.
- It is the useless SG elites who can't compete & so can't lift the masses' salaries up.
- It is the useless SG elites who can't compete & so bully local captive market with increasing prices for worsening service.
Why Waitresses & Cooks Ought Spit Saliva into Elites's Food & Drinks
"......so called ELITE class did not rise to take on the challenge of leading the people towards the global economy but instead joined the civil services or Government Linked Companies to futher oppress the very people who sacrificed their children happiness for them." - LEITAISOR
For his compete grouse, please read my Rich Son Poor Son blogpost.