IT IS July 9, Thursday – one day away from the weekend (yippee) and who knows how many days to when we figure out what caused the massive MRT breakdown on Tuesday (boo). We know that there was a power trip – but what caused the power trip in the first place?
Three possible reasons: worn cables, a water leak, and a glitch in a power substation switch. Now, these are hardly the type of problems unknown to the authorities, and appear to have been neglected (again) despite millions being poured into upgrading the NS and EW lines since the last major breakdown in 2011.
Things are not looking up for SMRT, whose top guys have said their sorrys and have promised to look into the matter – even as the Transport Minister yesterday downplayed the need for another costly and time-consuming Committee of Inquiry. Commuters will still want answers, of course, or they may well take their frustration into the voting booth in the upcoming election.
The chips were down, too – across the board – in the stock exchange yesterday. Asian indexes plunged after a panic selling of Chinese stocks sparked a trading halt by more than 1,300 firms in Shanghai and Shenzhen. Jitters about the Greek crisis spilt over to the United States, too – where an unrelated computer glitch led to orders being cancelled at the New York Stock Exchange. The Straits Times Index slid 55.94 points or 1.67 per cent – its largest in a single day this year. Speaking of glitches, if you’re still having trouble logging into G services with your SingPass, it’s because of the new authentification system being put in place. Urgent transactions can be completed at SingPass counters. Here’s where to find them.
Down, down, down for COE prices as well – though, this has been more or less expected on the back of the new carbon tax that came into effect on July 1. The only COE price to go up was for motorcycles. If you’re in the market for a new car – industry watchers say COE prices may still go down, so… maybe stick to the MRT for now? We’ll keep our fingers crossed for you.
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