Singapore

THE first quarterly results for SMRT Corporation painted a bleak picture for the transport operator's rail business, as it appealed to shareholders to help it move towards a new rail financing framework (NRFF), and be taken private by state investor Temasek Holdings.

"Under the NRFF, SMRT Trains will operate under an asset-light model, focusing on providing quality service to commuters and maintaining the trains to ensure smooth operation," said chief financial officer Manfred Seah on Monday night.