SMRT Corporation
 |
|
| Industry | Public transport |
|---|---|
| Founded | 6 March 2000 |
| Headquarters | Singapore |
|
Key people
|
Desmond Kuek (President & CEO) Koh Yong Guan (Chairman) |
| Products | Bus, Taxi and Rail Services |
| Revenue |
 S$1,235.5 million SGD (FY2015) |
|
S$120.8 million SGD (FY2015) |
|
|
S$91.0 million SGD (FY2015) |
|
|
Number of employees
|
7,482 (Sep '15) |
| Parent | Temasek Holdings Pte Ltd |
| Website | SMRT Corporation |
SMRT Corporation (SGX: S53) is a public transport operator incorporated on March 6, 2000, as a result of an industry overhaul to form multi-modal public-transport operators in Singapore. It is the second-largest public-transport company in Singapore after ComfortDelGro. As a holding company listed on the Singapore Exchange since July 26, 2000, 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.
In September 2016, 85% of minority shareholders (about 4,000) voted in favor 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 will be Oct 18, 2016, with the payout taking place by Nov 1, 2016.
Source: SMRT Corporation Ltd Annual Report 2014
Source: SMRT Corporation Ltd Annual Report 2014
Source: SMRT Corporation Ltd Annual Report 2014
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.
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