SMRT Corporation

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SMRT Corporation
IndustryPublic transport
Founded6 August 1987;37 years ago (1987-08-06) [1]
Headquarters2 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) [2] (Group CEO)
ServicesBus & rail services
RevenueIncrease2.svg $1.297 billion (2016)
Increase2.svg $139 million (2016)
Increase2.svg $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.

Contents

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

SMRT Buses Alexander Dennis Enviro500 Alexander Dennis Enviro500 MMC operating for SMRT.jpg
SMRT Buses Alexander Dennis Enviro500
SMRT Trains Kawasaki-Sifang C151B C151B train at Boon Lay MRT station 040622.jpg
SMRT Trains Kawasaki–Sifang C151B

Background

In 1967, city planners forecast a need for a rail-based urban transport system in Singapore by 1992. [3] [4] [5] 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. [6] 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. [7] [8]

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. [9]

Opening of the various stages (1987-1990) Singapore MRT Network (1987-1990).svg
Opening of the various stages (1987–1990)

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. [7] [10] The founding chairman was Michael Fam and the first executive director was Lim Leong Geok. [11] [12]

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. [13] 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. [14] [15] 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. [16]

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. [17] [18] [19]

In July 2001, SMRT launched a takeover bid for Trans-Island Bus Services (TIBS) that was accepted. [20] [21] The transaction was completed in December 2001, with TIBS being operated as a wholly owned subsidiary. [22] [23] 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. [24] All its train operating assets were sold to the government under the Land Transport Authority's new Rail Financing Framework. [25] 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. [26]

The buy-out was approved by the High Court of Singapore and the last day of trading of SMRT shares was 18 October 2016. [27]

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. [28]

Operations

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

Related Research Articles

<span class="mw-page-title-main">Transport in Singapore</span>

Transportation in Singapore is predominantly land-based, with a comprehensive network of roads making many parts of the city-state, including islands such as Sentosa and Jurong Island, accessible. The road network is complemented by a robust rail system consisting of the Mass Rapid Transit (MRT) and the Light Rail Transit (LRT), which cover the length and width of Singapore and serve a few neighbourhoods respectively. The main island of Singapore is also connected to other islands via ferryboat services. Furthermore, the city-state maintains strong international connections through two bridges linking it to Malaysia – the Causeway and the Second Link – and the Singapore Changi Airport, a major aviation hub in Asia.

<span class="mw-page-title-main">Mass Rapid Transit (Singapore)</span> Principal metro system serving Singapore

The Mass Rapid Transit system, locally known by the initialism MRT, is a rapid transit system in Singapore and the island country's principal mode of railway transportation. After two decades of planning the system commenced operations in November 1987 with an initial 6 km (3.7 mi) stretch consisting of five stations. The network has since grown to span the length and breadth of the country's main island – with the exception of the forested core and the rural northwestern region – in accordance with Singapore's aim of developing a comprehensive rail network as the backbone of the country's public transportation system, averaging a daily ridership of 3.45 million in 2023.

<span class="mw-page-title-main">North East MRT line</span> Mass Rapid Transit line in Singapore

The North East Line (NEL) is a high-capacity Mass Rapid Transit (MRT) line in Singapore. Operated by ComfortDelGro's SBS Transit, the 22-kilometre (14-mile) line is the MRT's shortest. It runs from HarbourFront station in southern Singapore to Punggol Coast station in the northeast, serving 17 stations via Chinatown, Little India, Serangoon and Hougang. Coloured purple on official maps, it is Singapore's third MRT line and the world's first fully-automated underground driverless heavy rail line.

SBS Transit Ltd is a multi-modal public transport operator in Singapore operating bus and rail services. With a majority of its shares owned by Singaporean multinational transport conglomerate ComfortDelGro Corporation at 75%, it was formerly known as Singapore Bus Services before rebranding to SBS Transit on 1 November 2001.

<span class="mw-page-title-main">Land Transport Authority</span> Government agency in Singapore

The Land Transport Authority (LTA) is a statutory board under the Ministry of Transport of the Government of Singapore.

<span class="mw-page-title-main">North–South MRT line</span> Mass Rapid Transit line in Singapore

The North–South Line (NSL) is a high-capacity Mass Rapid Transit (MRT) line in Singapore, operated by SMRT Corporation. Coloured red on the Singapore rail map, the line is 45 kilometres (28 mi) long and serves 27 stations, 11 of which, between the Braddell and Marina South Pier stations, are underground. It runs from Jurong East station, located in Western Singapore, to Marina South Pier station in the Central Area, via Woodlands station in northern Singapore. The line operates for almost 20 hours a day, with headways of 1 to 2 minutes during peak hours and 5 to 6 minutes during off-peak hours. All the trains on the North–South Line run with a six-car formation.

<span class="mw-page-title-main">Bukit Panjang LRT line</span> Light rail transit line in Singapore

The Bukit Panjang LRT is an 8-kilometre (5.0 mi) automated guideway transit line in Bukit Panjang, Singapore. The BPLRT is currently the only Light Rail Transit (LRT) line operated by SMRT Trains. As the name suggests, it serves 13 stations in the neighbourhood of Bukit Panjang and parts of Choa Chu Kang in the north-west area of the country. The line was the first LRT line constructed in Singapore, having been opened on 6 November 1999 by then-Deputy Prime Minister Tony Tan.

<span class="mw-page-title-main">City Hall MRT station</span> Mass Rapid Transit station in Singapore

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<span class="mw-page-title-main">Paya Lebar MRT station</span> Mass Rapid Transit station in Singapore

Paya Lebar MRT station is a Mass Rapid Transit (MRT) interchange station on the East West line (EWL) and Circle line (CCL) in Geylang, Singapore. Despite the name, this station is not located in Paya Lebar but rather along Paya Lebar Road, near the junction with Sims Avenue. It is located among the developments of the Paya Lebar Central commercial hub and near the Geylang Serai district.

<span class="mw-page-title-main">Changi Airport MRT station</span> Mass Rapid Transit station in Singapore

Changi Airport MRT station is an underground Mass Rapid Transit (MRT) station in Changi, Singapore. The station is the terminus of the Changi Airport branch of the East–West Line (EWL); it is operated by SMRT Trains and is built in an east–west orientation. The station directly connects to Terminals 2 and 3 of Changi Airport and serves other airport amenities including the retail complex of Jewel.

<span class="mw-page-title-main">Public buses of Singapore</span> Main public transport system in Singapore

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<span class="mw-page-title-main">Light Rail Transit (Singapore)</span> Automated guideway transit systems in Singapore

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<span class="mw-page-title-main">Woodlands Bus Interchange</span> Bus interchange in Woodlands, Singapore

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<span class="mw-page-title-main">SMRT Buses</span> Public bus operator in Singapore

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<span class="mw-page-title-main">History of the MRT (Singapore)</span> Overview of the transit networks development in Singapore

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<span class="mw-page-title-main">Kranji MRT station</span> Mass Rapid Transit station in Singapore

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<span class="mw-page-title-main">Lakeside MRT station</span> Mass Rapid Transit station in Singapore

Lakeside MRT station is an elevated Mass Rapid Transit (MRT) station on the East–West line in Jurong West, Singapore. Operated by SMRT Trains, the station serves the eponymous Jurong Lake and the Hong Kah and Taman Jurong residential estate. Other nearby landmarks include Yuan Ching Secondary School and the Jurong West Branch of the Housing and Development Board (HDB).

<span class="mw-page-title-main">Rail transport in Singapore</span>

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<span class="mw-page-title-main">SMRT Trains</span> Singapore train operator

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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. 1 2 "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. ↑ "New HDB chairman". The Business Times . 29 July 1983. p. 1. Retrieved 14 January 2025.
  12. ↑ "10-man board will head the MRT Authority soon". The Straits Times . 24 July 1983. p. 13. Retrieved 14 January 2025.
  13. ↑ Rav, Dhaliwal (12 December 1987). "Shopping for Xmas the MRT way..." Straits Times. Retrieved 19 September 2017– via eResources.
  14. ↑ In Brief Railway Gazette International October 1995 page 611
  15. ↑ Information Kit SMRT Corporation
  16. ↑ 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.
  17. ↑ Finance Railway Gazette International August 2000
  18. ↑ Singapore metro goes public Railway Gazette International September 2000
  19. ↑ Independent, The (18 October 2016). "SMRT to be delisted from SGX after 16 years | The Independent". theindependent.sg. Retrieved 29 July 2018.
  20. ↑ "Who gains in MRT-bus merger" The Straits Times 11 July 2001
  21. ↑ "SMRT Looks to Expand Rail with Takeover Bid for TIBS" Wall Street Journal 30 July 2001
  22. ↑ "TIBS shares to be Delisted Today" The Straits Times 12 December 2001 page 10
  23. ↑ Annual report for year ended 30 December 2001 SMRT Corporation
  24. ↑ Majority of SMRt shareholders vote in favour of rail asset sale, Temasek buyout Channel NewsAsia 29 September 2016
  25. ↑ "Shareholders approve Temasek buyout of Singapore rail operator". Reuters. 30 September 2016.
  26. ↑ "Shareholders say yes to SMRT privatisation". Asiaone. 30 September 2016. Archived from the original on 4 October 2016. Retrieved 30 September 2016.
  27. ↑ "High Court approves Temasek's buyout of SMRT". Channel NewsAsia. 17 October 2016. Retrieved 19 December 2016.
  28. ↑ Tan, Christopher (13 April 2023). "SMRT and Premier merge taxi businesses to form second largest cab company". The Straits Times .
  29. ↑ "SMRT Bus Fleet". SMRT Corporation. Retrieved 28 April 2015.
  30. ↑ "Statistics (Operations)". SMRT Corporation. Retrieved 28 April 2015.
  31. ↑ "Statistics (Operations)". SMRT Corporation. Retrieved 28 April 2015.
  32. ↑ "Maxi Cab". Maxicabnow.com. 20 June 2019. Retrieved 21 May 2021.

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