Will stable bus ops put derailed SMRT back on track?

It's scrambling for something to offset rail woes.

There seems to be no end in sight for the transport company’s rail woes, and it needs all the hope and upside it can derive from its stable bus operations.

According to analysts from UOB Kay Hian, as opposed to rail and LRT operations which has been in the red, losing $9.3m, bus operations were in the black, making an operating profit of $4m entering the first half of 2016.

“As for the non-fare business, 1HFY16 contributions were up 13% yoy on better earnings from taxi, rental and advertising,” UOB Kay Hian said.

Meanwhile, another bright spot is the demand for its retail properties, which has remained strong, with an occupancy rate of 98.2%.

UOB Kay Hian also stresses that SMRT will continue to be weighed down by elevated staff and maintenance costs, as it employs engineers to work on its rails.

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