09 Jan '12, 4am

SMRT shares could go up after ex-CEO Saw's resignation, say analysts

SINGAPORE - Analysts say SMRT shares could see some gains following the resignation of chief executive officer Saw Phaik Hwa last Friday. It's highly possible for an upward movement of the stock," said Mr Roger Tan, CEO of Sias Research, adding that markets may view the development positively, with a potential 0.5 per cent to 1 per cent gain for the shares of the train operator. Prior to the announcement, SMRT shares closed 1.13 per cent higher to S$1.785 on Friday. Analysts said interim SMRT CEO Tan Ek Kia will be closely watched by the market to see how the train's breakdown problems will be solved. "I think the mandate for the new SMRT CEO will also be on how the repair and maintenance costs of the trains will be handled," said Mr Roger Tan. Meanwhile, some analysts say it is difficult to predict how SMRT shares will perform going forward. "In my view, the resignation w...

Full article: http://www.todayonline.com/Business/EDC120109-0000019/SMR...

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