A day after the announcement of the Singapore’s Land Transport Authority to give more than S$1 billion in trains and staff training to SBS Transit and SMRT, the share price of the two corporations rose more than 5% in a single day since trading hours this morning.
The market reacted positively to the news and there are more than 5.5 million trades done for SMRT alone. The Singapore stock exchange SGX has launched trading queries into the two companies. For SMRT, they have also received a trading query in September over unusual price movements.
Khaw Boon Wan: More than S$1 billion given to SMRT and SBS Transit