SMRT

SMRT: Committee of Inquiry releases report to public including recommendations for maintenance and engineering. Issues outstanding, 1. Cost burden issue btwn co and LTA has yet to be finalized, 2. Govt's response to the report is pending on 9 Jul's Parliament sitting. 3. If a fine is to be implemented and how much (current cap is $1m per incident) The report may lead to increase maintenance costs although SMRT on its end has already announced its $900m maintenance plan 2 months ago with most of the COI's 14 recommendations covered. OCBC has accounted for a fine of $2m in their estimates and maintains Hold with unchanged TP$1.71