Misplaced Pages

SMRT Corporation

Industry	Public transport
Founded	6 August 1987; 37 years ago (1987-08-06)
Headquarters	2 Tanjong Katong Road, #08-01, Paya Lebar Quarter (PLQ 3), Singapore 437161
Key people	Seah Moon Ming (Chairman) Ngien Hoon Ping (from 1 August 2022) (Group CEO)
Services	Bus & rail services
Revenue	$1.297 billion (2016)
Operating income	$139 million (2016)
Net income	$109 million (2016)
Owner	Temasek Holdings
Number of employees	9,500 (March 2016)
Subsidiaries	SMRT Buses SMRT Trains Strides
Website	www.smrt.com.sg

SMRT Corporation is a multi-modal public transport operator in Singapore operating bus and rail services. A subsidiary of the Government of Singapore's Temasek Holdings, it was established on 6 August 1987 and listed on the Singapore Exchange from 26 July 2000 until 31 October 2016. It is one of the two major operators of Singapore's rail services along with SBS Transit.

Besides public transport, SMRT Corporation is involved in leasing advertising and commercial spaces within the transport network it operates, as well as in engaging operations and maintenance services, project management and engineering consultancy in Singapore and overseas. It also operates other transport services under its subsidiary Strides.

History

Background

In 1967, city planners forecast a need for a rail-based urban transport system in Singapore by 1992. Initial opposition by prominent ministers, among them Finance Minister Goh Keng Swee and Trades and Industry Minister Tony Tan, nearly shuttered the program due to financial grounds and concerns of jobs saturation in the construction industry. Goh instead endorsed the idea of an all-bus system recommended by Harvard University specialists, who argued would reduce the cost by 50% compared to the proposed MRT system. Public opinion was split on the matter, with several expressing concerns on the high cost and others being more focused on increasing the standard of living. Following a debate on whether a bus-only system would be more cost-effective, Communications Minister Ong Teng Cheong came to the conclusion that an all-bus system would be inadequate, as it would have to compete for road space in a land-scarce country. Ong was an architect and town planner by training and through his perseverance and dedication became the main figure behind the initial construction of the system.

Singapore's MRT infrastructure is built, operated, and managed in accordance with a hybridised quasi-nationalised regulatory framework called the New Rail Financing Framework (NRFF), in which the lines are constructed and the assets owned by the Land Transport Authority, a statutory board of the Government of Singapore.

Mass Rapid Transit Corporation

The Mass Rapid Transit Corporation (MRTC) was established on 14 October 1983 and took over the roles and responsibilities of the former provisional Mass Rapid Transit Authority.

On 7 November 1987, the MRTC commenced operating services on Singapore's first Mass Rapid Transit (MRT) section, consisting of five stations from Yio Chu Kang to Toa Payoh. On 1 September 1995, MRTC, along with Roads & Transportation Division of the Public Works Department and Land Transportation Division of the Ministry of Communications, merged to form the Land Transport Authority. The operations of the MRT system were regrouped under SMRT Limited, as a private state-owned company owned by the government's investment arm Temasek Holdings.

Privatisation

In 1998, ownership of the rail assets encompassing the operation of the MRT system network were transferred to SMRT Limited. The process was executed under a License and Operating Agreement, which stated the maintenance obligation of SMRT Limited covering the infrastructures and assets of the transit system. On 26 July 2000, SMRT Limited was listed on the Singapore Exchange as SMRT Corporation, with Temasek Holdings selling 33% of its shares.

In July 2001, SMRT launched a takeover bid for Trans-Island Bus Services (TIBS) that was accepted. The transaction was completed in December 2001, with TIBS being operated as a wholly owned subsidiary. As part of a corporate rebranding programme, TIBS was rebranded as SMRT Buses in May 2004.

Nationalisation

In September 2016, Temasek Holdings completed a successful takeover bid for the 46% of SMRT that it did not own which resulted in SMRT being delisted from the Singapore Exchange and returning to government control. All its train operating assets were sold to the government under the Land Transport Authority's new Rail Financing Framework. The bus operating assets were also sold to the government under Land Transport Authority's Bus Contracting Model.

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.

From 1 October 2016, the Land Transport Authority assumed all the rail operating assets from SMRT under a New Rail Financing Framework that allows the company to focus on its operational reliability.

Post nationalisation

In 2023, SMRT Corporation merged its taxi operations under Strides Taxi with Premier Taxis to form Strides Premier.

Operations

SMRT's primary business is providing public-transport services in Singapore, with operations in the following (as of 2015):

• SMRT Buses – a fleet of up to 1,200 buses, serving the majority of housing estates in northern and north-western Singapore, as well as Jurong West Region (between Boon Lay, Joo Koon and Tuas) as of September 2024.
• SMRT Trains – 119 stations along the North–South, East–West, Circle and the Thomson–East Coast lines of the MRT network. Also operates 13 stations along the Bukit Panjang LRT line.

References

1. "SBS to be offered up to 25% of MRT company". The Straits Times (retrieved from NLB). 7 August 1987. Retrieved 9 September 2019.
2. Hamzah, Firdaus (18 March 2022). "Ngien Hoon Ping named new CEO of SMRT, will take over from Neo Kian Hong on Aug 1". CNA. Retrieved 15 April 2022.
3. Seah C. M. (1981). Southeast Asian Affairs. Singapore: Institute of Southeast Asian Studies. p. 293.
4. Sharp 2005, p. 66
5. Fwa Tien Fang (4 September 2004). Sustainable Urban Transportation Planning and Development — Issues and Challenges for Singapore (Report). Department of Civil Engineering, National University of Singapore. CiteSeerX 10.1.1.119.9246.
6. Mai Yun, Wong (17 December 1981). "Foolish to build MRT now: Tony Tan". The Straits Times. Retrieved 24 July 2020.
7. ^ "1982 – The Year Work Began". Land Transport Authority. Archived from the original on 29 September 2013. Retrieved 16 November 2013.
8. Lee Siew Hoon & Chandra Mohan. "In Memoriam — Ong Teng Cheong: A Profile". CNA. Singapore: Mediacorp. Archived from the original on 23 February 2002. Retrieved 26 November 2007.
9. "New Rail Financing Framework". Archived from the original on 14 January 2020. Retrieved 14 January 2020.
10. Annual report 1984. Singapore: Mass Rapid Transit Corporation. 1084. p. 5.
11. Rav, Dhaliwal (12 December 1987). "Shopping for Xmas the MRT way..." Straits Times. Retrieved 19 September 2017 – via eResources.
12. In Brief Railway Gazette International October 1995 page 611
13. Information Kit SMRT Corporation
14. Fwa Tien Fang (2016). 50 Years Of Transportation In Singapore: Achievements And Challenges - World Scientific Series On Singapore's 50 Years Of Nation-building. Singapore: World Scientific. pp. 112–117. ISBN 9789814651615.
15. Finance Railway Gazette International August 2000
16. Singapore metro goes public Railway Gazette International September 2000
17. Independent, The (18 October 2016). "SMRT to be delisted from SGX after 16 years | The Independent". theindependent.sg. Retrieved 29 July 2018.
18. "Who gains in MRT-bus merger" The Straits Times 11 July 2001
19. "SMRT Looks to Expand Rail with Takeover Bid for TIBS" Wall Street Journal 30 July 2001
20. "TIBS shares to be Delisted Today" The Straits Times 12 December 2001 page 10
21. Annual report for year ended 30 December 2001 SMRT Corporation
22. Majority of SMRt shareholders vote in favour of rail asset sale, Temasek buyout Channel NewsAsia 29 September 2016
23. "Shareholders approve Temasek buyout of Singapore rail operator". Reuters. 30 September 2016.
24. "Shareholders say yes to SMRT privatisation". Asiaone. 30 September 2016. Archived from the original on 4 October 2016. Retrieved 30 September 2016.
25. "High Court approves Temasek's buyout of SMRT". Channel NewsAsia. 17 October 2016. Retrieved 19 December 2016.
26. Tan, Christopher (13 April 2023). "SMRT and Premier merge taxi businesses to form second largest cab company". The Straits Times.
27. "SMRT Bus Fleet". SMRT Corporation. Retrieved 28 April 2015.
28. "Statistics (Operations)". SMRT Corporation. Retrieved 28 April 2015.
29. "Statistics (Operations)". SMRT Corporation. Retrieved 28 April 2015.
30. "Maxi Cab". Maxicabnow.com. 20 June 2019. Retrieved 21 May 2021.

External links

Media related to SMRT Corporation at Wikimedia Commons

v t e Public buses of Singapore
Operators	Causeway Link Go-Ahead ComfortDelGro SBS Transit SMRT Corporation SMRT Buses Tower Transit
Interchanges	Integrated Transport Hubs Ang Mo Kio Beauty World Bedok Boon Lay Buangkok Bukit Panjang Clementi Joo Koon Punggol Coast Sengkang Serangoon Toa Payoh Woodlands Woodleigh Yishun Bishan Bukit Batok Bukit Merah Choa Chu Kang Compassvale Eunos HarbourFront Hougang Central Jurong East Jurong Town Hall Pasir Ris Punggol Sembawang Tampines Tampines Concourse Tampines North Tengah Yio Chu Kang
Terminals	Beach Station Buona Vista Changi Airport PTB2 Changi Business Park Changi Village Ghim Moh Jurong Island Kampong Bahru Kent Ridge Lorong 1 Geylang Marina Centre Queen Street Saint Michael’s Shenton Way Sims Place Tuas Upper East Coast
Depots	Ang Mo Kio Bedok North Bukit Batok Bulim East Coast Gali Batu Hougang Kim Chuan Kranji Lorong Halus Loyang Mandai Pasir Panjang Seletar Sengkang West Simpang Soon Lee Tengah Ulu Pandan Woodlands
Bus parks	Braddell Woodlands
Miscellaneous	Bus contracting model List of bus routes
List of bus stations Former bus stations Buses portal Singapore portal

v t e Rail transport in Singapore
Italicized entries are planned or under construction
Overview	History MRT (stations) LRT (stations) Fares and ticketing CEPAS EZ-Link NETS Visa Mastercard Facilities STARiS Safety Security Public Transport Security Command
MRT	NSL  North–South Line  EWL  East–West Line  NEL  North East Line  CCL  Circle Line  DTL  Downtown Line  TEL  Thomson–East Coast Line  JRL  Jurong Region Line  CRL  Cross Island Line Defunct Branch Line
LRT	BPLRT  Bukit Panjang LRT  SKLRT  Sengkang LRT  PGLRT  Punggol LRT
Others	Changi Airport Skytrain Sentosa Express Defunct Jurong Bird Park Panorail Sentosa Monorail
Cross-border	Intercity  KTM Tebrau Shuttle  RTS  Johor Bahru–Singapore Rapid Transit System  HSR  Kuala Lumpur–Singapore high-speed rail
Rolling stock	MRT C151 C751A C830 C151A C951(A) C830C C751C C151B C151C T251 R151 C851E J151 CR151 LRT C801 C810(A) C801A C801B C810D Other Crystal Mover Hitachi Monorail Withdrawn C651 C751B
Depots	Bishan Ulu Pandan Changi Ten Mile Junction Sengkang Kim Chuan Gali Batu Tuas Tai Seng Mandai East Coast Tengah Changi East Other Singapore Rail Test Centre
Companies	ComfortDelGro SBS Transit SMRT Corporation SMRT Trains
Major incidents	1993 Clementi rail accident 2004 Nicoll Highway collapse 2016 Pasir Ris rail accident 2017 Bishan tunnel flooding 2017 Joo Koon rail accident September 2024 East–West MRT line disruption

• SMRT Corporation
• Companies formerly listed on the Singapore Exchange
• Government-owned companies of Singapore
• Light Rail Transit (Singapore)
• Mass Rapid Transit (Singapore)
• Singaporean brands
• Temasek Holdings
• Transport operators of Singapore
• Transport companies established in 1987
• Singaporean companies established in 1987
• Government-owned transport companies