SMRT Higher Operating Costs Continue to Erode Profits

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“We are fully committed to strengthening the level of service and reliability of our public transport services and meeting the network’s higher capacity needs and operational requirements. We remain focused on our multi-year programmes to renew and upgrade the ageing rail network and will continue to pursue business growth in line with our core competencies.”

SMRT’s President and Group Chief Executive Officer, Mr Desmond Kuek

SMRT announces its 2Q FY2016 results on 27th October 2015. The group revenue increased 4.7% to $328.8 million. Operating expenses rose 7.1% to $313.6 million. The increase in operating expenses was due mainly to higher repairs and maintenance costs, staff costs, depreciation, and other operating expenses. Operating profit was $32.5 million which is 2.4% lower as compared to 2Q FY2015.

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Suntec REIT DPU Rises for 3QFY15

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Suntec REIT announces its results for 3QFY15 on 22nd October 2015. DPU rises 8.3% to 2.522 cents as compared to the same period last year.

Suntec REIT portfolio includes

  • Suntec City
  • Park mall (in the midst of divesting, to be completed by end FY2015)
  • One Raffles Quay (one-third)
  • MBFC Properties (one-third)
  • 177 Pacific Highway, an iconic landmark office development in North Sydney (100% by early 2016)

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