Singapore transport operators ComfortDelgro, SMRT request fare hike

Singapore public transport operators SBS Transit (SBVV.SI) and SMRT (SMRT.SI) have submitted applications to increase buses and subway fares due to rising costs, the two companies said on Monday.

“SBS Transit has submitted an application to the Public Transport Council (PTC) seeking bus and rail fare adjustments,” a spokeswoman for parent company ComfortDelgro (CMDG.SI) said.

She cited rising fuel and energy costs as well as expenses incurred in the firm’s fleet renewal exercise.

 

“In the last year alone, we have ordered another 600 buses at a total cost of $268 million, which are scheduled for delivery in 2011 and 2012. In all, our 2,050 new buses are costing us some $854 million,” she added.

 

SMRT also said it has requested an adjustement to fares on its trains and buses.

 

Singapore earlier this year deferred its mid-year review of bus and subway train fares till the fourth quarter of the year, delaying what will likely have resulted in higher cost of public transport.

 

Rising inflation was one of the key issues during Singapore’s general election in May when parties opposed to the ruling People’s Action Party (PAP) made historic gains.