;
Singapore SMRT's Era Ends: Temasek Holdings Secures High Court Approval for Buyout

The High Court yesterday (17 Oct) approved the buyout of SMRT by Temasek Holdings. Following the Court’s decision the public transport operator will be delisted from the Singapore Stock Exchange on 1 Nov. Today is last day of trading for SMRT and shareholders will be paid for their shares before the delistment.

screengrab: Yahoo Finance
screengrab: Yahoo Finance

Temasek owned 54.2 percent of SMRT before the buyout. In an Extra-ordinary General Meeting held on 29 Sep, 98.84 percent of SMRT’s minority shareholders approved the sale of SMRT assets to the Land Transport Authority. 84.83 percent also approved the takeover bid by Temasek Holdings. Temasek abstained from voting.

SMRT Corporation was listed on the mainboard of the Singapore Exchange Securities Trading Limited on 26 July 2000.

SMRT Trains and SMRT Light Rail transited to LTA’s New Rail Financing Framework on 1 October 2016. Analysts speaking to The Straits Times said that there was a possibility that SMRT could have gone into insolvency under the old rail financing framework.

See also  UK pop star comes to the rescue in Singapore quiz row

Read also:

Singaporeans call out SMRT CEO for going “into hiding” after first train breakdown

SMRT files report against boy who blocked platform doors, and delayed MRT trains for the sake of making Youtube video – Singapore News

Did SMRT audit maintenance works? Outraged Singaporeans question how falsified paperwork was not detected for almost a year – Singapore News

Singaporeans challenge SMRT Trains’ claim that hefty S$86m loss is due to declining ridership – Singapore News