17 Feb '17, 5am

Business risks set to be lower, but challenges remain: SMRT chief

SMRT Corp will face lower business risks when the new rail financing framework kicks in next month, but chief executive Desmond Kuek said the rail operator will still face challenges. "Clearly, it will be a lower risk environment compared with the current arrangement," he said. "There are risk-sharing mechanisms that are not in existence under the current financial framework." "No business is risk-free," Mr Kuek conceded during an interview with the press yesterday. Risks, he said, included uncertainty over ridership numbers and fare adjustments. The Transport Ministry had announced in July that the Land Transport Authority (LTA) will take over all operating assets of the North- South, East-West and Circle lines, as well as the Bukit Panjang LRT Line, from SMRT Trains for $1.06 billion. In turn, SMRT will run the trains on these lines and retain a share of the earnings. Bu...

Full article: http://www.straitstimes.com/singapore/transport/business-...

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