SMRT shares fall after major train breakdowns

SINGAPORE – Shares of Singapore's public transport provider SMRT Corp Ltd fell 3.6 per cent on Monday to its lowest level in more than two months, following three major breakdowns in its trains last week.

At 0104 GMT, shares of SMRT were traded at S$1.755 with 145,000 shares changing hands.

The disruption in SMRT's train services prompted calls for its chief executive to resign, but the Straits Times reported that she said she was not planning to step down.

'The problems with the trains would likely lead to additional costs. The free shuttle buses and extra fuel used, all this needs money. If they decide to do a major overhaul, it will cost even more,' said a local dealer.

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