Singapore state investment company Temasek Holdings Pte is considering buying the remaining stake in SMRT Corp., Singapore’s biggest metro operator, according to sources. Temasek currently has a 54% stake in SMRT, which has a market value of about USD 1.7 billion.
Singapore officials announced that SMRT will transfer USD 734 million of rail, signal and related assets to the national transport regulator, giving the company funds to recruit more staff and improve train maintenance. The potential buyout offer for Temasek is still being discussed but there is no certainty it will result in a deal, according to sources.
SMRT currently operates three metro rail lines in Singapore.
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