Friday, July 20, 2012

When you are profit driven ...

I read the finding of the major breakdowns in Singapore SMRT this morning. And the findings are so familiar when a corporation is profit driven:
Quote: "A panel commissioned to investigate last year's train breakdowns criticised metro operator SMRT for prioritising resumption of revenue service over addressing underlying problems which caused the stoppage.

It also concluded that SMRT's metro system had been plagued by outdated equipment and poor maintenance for years, and the company did not have enough engineers capable of overseeing maintenance." unquote
Shareholder return, cut operating expenditure, maximise profit, reduce corporate "fat" (stay lean), globalisation, rationalisation, etc sound familiar?
They were recently fined S$2 million! 

Two more articles to read: click for the first and second article.
But back in Malaysia, do we have law to penalise such corporate wrong doing? Or to bring the issue closer to ourselves, do you regularly maintain your car, house or equipment at home?

No comments: