SMRT Corporation Public transport company. Incorporated originally as Singapore MRT Ltd in 1987 and publicly listed in 2000, SMRT Corporation Ltd (SMRT) was formed to build and operate the Mass Rapid Transit (MRT) system (see Mass Rapid Transit/Light Rail Transit System). It operates the two main MRT arteries— the North- South and East- West lines.
SMRT has since diversified into other areas of transport. It has operated Singapore’s Light Rail Transit system since 1997. In December 2001, it acquired TIBS, Singapore’s second licensed public bus operator, which has a fleet of over 800 buses and nearly 3,000 taxis. SMRT also took over the City Shuttle Service and Bus- Plus Services.
In addition, the group offers automotive maintenance and repair, as well as turnkey consultancy and project management services in railway systems. SMRT also receives non- fare revenues from the commercial lease of some 20,400 sq m of space at its 51 stations, as well as from media advertising in its trains, buses and taxis.
In 2000, SMRT formed a joint venture with Mediacorp to publish the newspaper Today. Launched in November the same year, the paper is distributed free at MRT stations daily. SMRT sold its 14.6 per cent stake in the newspaper in August 2004 for $3.5 million. For the financial year ending March 2006, SMRT reported a profit of $103.6 million on a turnover of $711.7 million.