19 Oct '11, 6am

SMRT's net profit for FY2011 is $161.1 MILLION.

SINGAPORE - The Land Transport Authority (LTA) has fined public transport operator SMRT S$200,000 under the Rapid Transit Systems (RTS) Act for the lapses relating to the security breach at the Bishan MRT depot in August. The security lapse was similar in nature to an incident at Changi depot in May last year for which SMRT was fined S$50,000. The RTS Act provides for a fine of up to S$1 million for a breach of any of its provisions. Under the current penalty framework, a maximum fine of S$50,000 may be levied for the breach of the general licence conditions and this forms the base penalty amount. "In the determination of the final penalty quantum, we looked into the facts of the case and the aggravating factors," a LTA spokesperson said. LTA's investigations found that SMRT had failed to exercise due diligence and vigilance expected of a public transport operator by faili...

Full article: http://www.todayonline.com/Singapore/EDC111019-0000154/SM...

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