Most Singaporeans may recognise SBS Transit as a bus operator and SMRT as a train operator. But not many people may know that SBS Transit also runs rail services for the Downtown Line (DTL), Northeast Line (NEL), and Sengkang-Punggol LRT line in Singapore.

This lack of recognition that SBS Transit also operates rail services could be a blessing in disguise for the company. Simply because whenever there’s a train service disruption, the blame often goes to SMRT!

Before opening the floor for questions at the 2019 SBS Transit AGM, Chairman Lim Jit Poh reminded shareholders not to ask questions related to the breakdown of revenue by rail or bus; the management does not disclose the details due to commercial sensitivity. SBS Transit has to bid for bus tenders under the new bus contracting model (BCM) and publishing their operating margins may give clues to how much the company could