Shareholders okay Temasek buyout, sale of rail assets

Singapore

SHAREHOLDERS of SMRT Corporation on Thursday strongly endorsed Temasek Holdings' S$1.2 billion plan to take the transport operator private and the sale of its rail assets to the government under the new rail financing framework (NRFF).

They were adopted by the 4,000 or so shareholders who gathered in person or by proxy over a three-hour meeting that not only talked about the economic sense of the proposals, but also scrutinised the "political" environment that Singapore's public transport system is mired in.