SMRT's rail losses deepen for Q1
Group looks to new rail financing framework and Temasek bid; net profit falls 22.9%
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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.
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