I don't see why MAS should plead 'social obligations' as its main reason for not doing well in the past. It is still a 'company' and any company should look into their costs so the revenue earned means something. A company that size should target for profits, unlike SMEs which targets breaking even. It was public knowledge that they have not managed their resources well. That's why it's not doing too good.
Come on, all GLCs have social obligations but their number one obligation is to turn a profit and not eat up more and more money that could have gone to better roads and schools.