SMRT

SMRT: opens down 1.1% at $1.79, compared with the STI's modest 0.4% bounce. An analyst with a local brokerage cites a "knee-jerk reaction" after severe disruptions on its North-South MRT line Thursday evening. The disruption came on the heels of Wednesday's Circle Line disruption. The analyst notes the Land Transport Authority has got quite serious about the problems; SMRT may face punitive actions, such as fines. In addition, SMRT faces a public-relations headache after the company sent text messages to its taxi drivers, alerting them of the disruption and calling it an "income opportunity," even as some customers' ire over recently increased taxi fares has yet to die down; the Straits Times reported that an SMRT spokesman, when contacted about the message, said "we are sorry for the oversight. Our staff were using a template message, and we have since corrected it." The stock's November low of $1.76 may act as a support.