New Era sees dawn after piling up losses

Macau New Era Public Bus Co. Ltd. has accumulated losses of MOP1.81 million (US$226,630) since it took over bankrupt Reolian Public Transport Co. Ltd’s bus services in the middle of last year. Nevertheless, profits of MOP2.43 million were registered in December 2014, the general manager of the company, Daniel Fong, said at the company’s Chinese New Year celebratory dinner on Sunday.
The improvement was due to the operational costs of the company decreasing following the reduced fuel and gas product prices, the general manager said, indicating that the company will be in the black in 2015, local broadcaster TDM Radio reported.
“If the gas price remains at the current level, with the efforts of our colleagues, we believe that the loss will be turned to profit this year based on our analysis,” Mr. Fong said.
Contacted by Business Daily, Mr. Fong declined to give further comments on the results of New Era, saying that there will be a press briefing by New Era on Thursday.
In fact, according to TDM, the general manager also claimed on Sunday that New Era’s turnover had increased by 20 per cent since the takeover last year, indicating it was due to the higher motivation of drivers following the company’s improved remuneration scheme, whereby the highest salary earner can make MOP21,000.
On the other hand, Mr. Fong said that New Era is striving to improve its score in the government’s review of bus services, hoping to reach 70 marks in 2015 from some 60 marks last year. In addition, the company is hoping to fully reach its frequencies standard as well as decrease the accident rate by 10 per cent.
K.L