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Trading halt continues for SMRT shares pending possible announcement

Monday, July 18, 2016 - 12:08
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SMRT Corp announced on Monday a continuation of its trading halt pending a possible announcement.

SMRT Corp announced on Monday a continuation of its trading halt pending a possible announcement.

Trading of the Singapore rail operator's shares was halted on Friday when the company announced that it would transfer its rail assets to the government for S$991 million, subject to shareholder approval.

The Land Transport Authority has arrived at an agreement with SMRT Trains on the New Rail Financing Framework (NRFF) to transfer the ownership of the North-South and East-West Lines, the Circle Line and the Bukit Panjang LRT; the operating assets include the trains, signalling system and maintenance equipment.

Under SMRT Trains' new NRFF licence, it will operate the above lines for 15 years from Oct 1, 2016, with the possibility of a five-year extension.