Industry Public transport Number of employees 10,000 Parent organization Temasek Holdings | Headquarters Singapore Founded 7 November 1987 | |
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Key people Desmond Kuek (President & CEO)
Koh Yong Guan (chairman) Products Rail, Buses, Taxis Services Revenue S$1,235.5 million SGD (FY2015) Operating income Net income S$91.0 million SGD (FY2015) CEO Desmond Kuek (1 Oct 2012–) Subsidiaries SMRT Trains, Smrt Investments Pte Ltd Profiles | ||
Smrt east west line full journey towards pasir ris onboard c151 061 062
SMRT Corporation is a public transport operator incorporated on 6 March 2000, as a result of an industry overhaul to form multi-modal public-transport operators in Singapore. Its rail services began on 7 November 1987. It is the second-largest public-transport company in Singapore after ComfortDelGro. As a holding company listed on the Singapore Exchange between July 2000 to October 2016, it operates bus, rail, taxi and other public-transport services via several wholly owned subsidiaries. In addition, the Group leases commercial and advertising spaces within the transport network it operates and engages in operations and maintenance services, project management and engineering consultancy in Singapore and overseas.
Contents
Privatisation
In September 2016, 85% of minority shareholders (about 4,000) voted in favour of a buy-out offer by Temasek Holdings at $1.68/share which will result in delisting from the Singapore Exchange. All its train operating assets worth S$1 billion will also be sold to the government under the Land Transport Authority's new "Rail Financing Framework" (NRFF).
Being asset light will allow SMRT to focus on the operational reliability of the public transport system and its business ventures overseas.
The buy-out was approved by the High Court of Singapore and the last day of trading of SMRT shares was 18 October 2016, with the payout taking place by 1 November 2016.
Subsidiaries
Source: SMRT Corporation Ltd Annual Report 2014
Associated company
Source: SMRT Corporation Ltd Annual Report 2014
Branch office
Source: SMRT Corporation Ltd Annual Report 2014
Operations
SMRT's primary business is providing public-transport services in Singapore, with operations in the following (as of 2015):
From 1 October 2016, Land Transport Authority assumes all the current assets from SMRT under a new rail financing framework that allows the company to focus on its operational reliability.
Key operating statistics (2003 till 2013)
Monthly ridership for bus and rail
Notes