Tuesday, May 04, 2010

SMRT disposes remaining stake in Transit Link

SMRT announced that it has completed the disposal of its remaining interest in Transit Link.
SMRT announced that it has completed the disposal of its 50% shareholding interest in the issued and paid-up share capital of Transit Link Pte Ltd ("Transit Link") to the Land Transport Authority ("LTA") for a cash consideration based on 50% of the audited net asset value of Transit Link as at 31 March 2010.

Transit Link is a Transit Acquirer for the public transport fare collection system. As the LTA has been assigned to take on the role of Transit Acquirer by the Minister for Transport, it has been mutually agreed that the sale of Transit Link to the LTA would serve the interests of all parties involved.

SMRT disposes remaining stake in Transit Link [via]

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