WTF Of The Day! – SMRT bags international risk management award



By: Arthur Ah Ter Kia

SMRT Corporation has won an international award for its enterprise risk management programme – first time that SMRT has won such an award.


People suka-suka walk in and out of MRT depot to do some arty-farty stuff, and SMRT could win an award for risk management?

And the statement by the CEO Desmond Kuek is more cringeworthy:

“The rigorous judging process reaffirms that SMRT’s enterprise risk management programme is truly world-class, and delivers superior value for our stakeholders,” he said.

What superior value?

Just yesterday there was a delay on the MRT. And the MRT is more overcrowded than the trains in India. What world-class is he talking about? Unless of course when he said stakeholders he meant the shareholders. Then I have nothing to say.

Companies shortlisted for this award were assessed for evidence of sustained revenue enhancement, cost savings or other improvements such as reduced error rates, that can be attributed to a risk management initiative or programme; acknowledgement of the role of risk management as a value-added function within the organisation; and value delivery in the context of an overall risk management programme.

Of course they can have sustained revenue enhancement lah! The government bought for them hundreds of buses and some trains and paid for some of the maintenance work for free!

And every year without fail, rain or shine, the fare will increase. How to lose money like that?

My grandmother also can run the SMRT while frying goreng pisang and taking care of her grandchildren at the same time!


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