by Jared Heng
Singapore transport operator SMRT Corporation will spend some S$900 million on renewal and preventive maintenance in response to many recent train disruptions.
In a statement filed with the Singapore Exchange (SGX) on Tuesday, SMRT said it has identified several areas for long-term renewal and upgrading to ensure “a safe and reliable rail system” for Singapore.
“Some of the measures are already ongoing and will be accelerated, while others are new. We are discussing with LTA (Land Transport Authority) on the cost-sharing arrangements,” Tan Ek Kia, Executive Director and Interim Chief Executive Officer, said.
One of the measures is the re-signalling of the North-South and East-West Lines.
“On behalf of all of us at SMRT, I want to apologise to our customers for the disruptions in the past weeks. We hear your concerns, and we acknowledge we must improve our handling of these events,” Tan said.
Mainboard-listed SMRT Corporation Tuesday closed on the SGX at S$1.810, compared with Monday’s close of S$1.815.