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Singapore Transport Minister Khaw Boon Wan appointed an engineering specialist in October last year to advise on rail transformation and said the government was discussing changes in the industry structure to bring about better alignment of incentives. Under the previous framework, rail operators owned operating assets, such as trains and the signaling system. They were then responsible for building up, replacing and upgrading the operating assets. "As operators bear the full financial risk, they may be too cautious to undertake costly capacity expansion, replacement and upgrading works," the LTA said in the statement explaining why such a deal was done. The government is not nationalizing the rail system. Trading of SMRT shares was halted before the announcement. SMRTs rail-related expenditure could have reached S$2.8 billion over the next five years under the current regulations, the company in a separate statement Friday. Thats more than double the S$1.3 billion in the last five years. Maintenance costs have also increased and make up for 45 percent of the rail fare revenue in the year ended March, the company said earlier this month. Operating profit at the companys rail operations dropped 23 percent last year and it would have reported a loss of S$8.5 million if it werent for the property tax refund the company received, SMRT said in April.
For the original version including any supplementary images or video, visit Singapore Rail Operator to Transfer S$991 Million Assets - Bloomberg
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Inhabitants of the Malaysian peninsula and the island of Singapore first migrated to the area between 2500 and 1500 B.C. see Malaysia. surprised, confused, and, charmed.” R. Singapore, boring? Dirt-cheap prices may be a thing of the past but Singapore remains a retail joyride. The Cocos or Keeling Islands and Christmas Island were transferred to Australia in 1955 and in 1958, respectively. One minute I'm in the 'Hong Kong' wet markets and malls of Chinatown, the next the 'Mumbai' street scenes of Little India, the next the red-light 'Patpong, Bangkok' district of Geylang. More than just stay and malls, new-school Singapore is all about sci-fi architecture in billion-dollar gardens, contemporary art in converted colonial barracks, and single-origin coffee in heritage chophouses. In Singapore's May 2011 general election, the ruling People's Action Party was re-elected with a majority of 81 to 6, which was the equivalent of 60% of the vote. Wherever you http://www.graphicdesignsingapore.org/ are, share your travel stories with YourSingapore Follow us for the latest updates and conversations.
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