SMRT remains committed to performing its primary role as a safe and reliable public transport operator and at the same time enhance commuters’ travel experience through the provision of lifestyle convenience and services in our network.
SMRT President and CEO Mr Desmond Kuek said: “As SMRT aims to deliver shareholder value on a sustained basis, we will continue with our discussion with the Government on a new rail financing framework that will allow for more predictable cash flows and a more sustainable financing model, and resolve the structural issues and improve the viability of our bus business. We will continue to diversify revenue sources beyond our transport network by leveraging on strengths in rail, road and commercial business both locally and overseas.”
SMRT has valuable retail experience of its own through the running of retail spaces in our network. The Singapore Sports Hub, which will be completed by 2014, will see SMRT lease and operate 41,000 sqm of commercial retail space. This is an integral role in a national initiative and the joint venture between subsidiaries of SMRT and NTUC Fairprice leverages the expertise, knowledge and proven track record of both organisations. SMRT’s extensive transport network and retail management expertise also contributes significantly in the new sporting and lifestyle hub. The recently opened Woodlands Xchange, along with the rest of our Xchanges, aimed to provide customers with a transit retail experience in our network.
As we continue to create opportunities and diversify our revenue stream in the area of non-fare business such as retail, media and advertising. We are also looking to develop our overseas business by capitalizing on rail-related engineering, consultancy and maintenance opportunities. Most recently, SMRT joined a consortium to participate in the Jakarta Monorail project, where a technical team will assist Jakarta Monorail in several major components of the monorail project, including a feasibility study of the proposed monorail route and aiding the design of the project. SMRT will provide advice and lend its expertise on the project.
In September 2013, SMRT retained its AAA rating by agency Standard & Poor’s, where we were one of the only four Singapore companies to have been awarded this high grade. The company was also recently named as runner-up in the ‘Most Transparent Company – Travel, Leisure and Automobile and Parts’ category at the SIAS Investors’ Choice Awards for 2013.
SMRT has stepped up efforts to adapt the existing business models to seize growth opportunities and mitigate against emerging risks. To drive long term growth and capacity, we have invested in knowledge management and creation. We aim to drive revenue and profit growth on a sustainable basis, adopt an innovative mindset and deliver shareholder value over the long term.
SMRT Corporation Ltd (SMRT) is the leading multi-modal public transport operator in Singapore. SMRT serves millions of passengers daily by offering a safe, reliable and comprehensive transport network that consists of an extensive MRT and light rail system which connects seamlessly with its island-wide bus and taxi operations. SMRT also markets and leases the commercial and media spaces within its transport network, and offers engineering consultancy and project management as well as operations and maintenance services, locally and internationally.