SMRT to roll out AV shuttle services as profits hit by last year's six-day EWL train disruption
SMRT Group plans to roll out autonomous vehicle shuttle services in some housing estates as part of efforts to diversify its revenue. It said this is aimed at improving the firm's financial sustainability and will also support the nation's AV ambitions. In its latest financial results, SMRT Trains' net profit fell 8% to S$6.9 million. A six-day disruption along the East-West Line last year dealt a major blow to its bottom line. Free bridging buses, high repair and maintenance costs, and a S$2.4 million penalty from the Land Transport Authority wiped out over S$10 million in revenue. Nadirah Zaidi reports.
SMRT Group plans to roll out autonomous vehicle shuttle services in some housing estates as part of efforts to diversify its revenue. It said this is aimed at improving the firm's financial sustainability and will also support the nation's AV ambitions. In its latest financial results, SMRT Trains' net profit fell 8% to S$6.9 million. A six-day disruption along the East-West Line last year dealt a major blow to its bottom line. Free bridging buses, high repair and maintenance costs, and a S$2.4 million penalty from the Land Transport Authority wiped out over S$10 million in revenue. Nadirah Zaidi reports.
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