SMRT-operated MRT lines achieved an average Mean Kilometers Between Failures (MKBF) of more than 2 million train-km in May, June and July this year. This is twice Singapore’s benchmark of one million train-km, and it is also a standard associated with some of the world’s top-performing metro systems.  

SMRT Trains - Key Financial Results
In FY25/26, SMRT Trains recorded earnings before interest and tax (EBIT) of $16.2 million and profit after tax (PAT) of $12.8 million, compared with $4.9 million and $6.9 million respectively in FY24/25. Revenue increased by 5.6% or $51.5 million, mainly due to higher ridership and fare revenue.

This increase was partially offset by higher repair and maintenance expenditure, as SMRT continued to invest in its rail assets and strengthen its engineering capabilities. Overall, SMRT Trains’ profit margin was 1.3%, up from 0.75% in FY24/25. The improvement is the result of disciplined cost management, energy contracts secured before recent geopolitical developments, and the Group’s Kaizen culture of continuous improvement. In comparison, the FY24/25 profit margin had been impacted by $10 million in one-off costs arising from the September 2024 East-West Line incident.

In this FY, SMRT employees’ collective efforts to improve productivity and work processes delivered close to $165 million in Kaizen savings, marking the second consecutive year that savings exceeded $160 million.

Making a Difference with Transformational Projects
Following the successful launch of Depot 4.0 at Bishan Depot in October 2025, SMRT will work closely with LTA to launch Depot 4.0 at Mandai Depot. The upgrade at Mandai Depot is expected to be completed by mid-2027. Once completed, the upgrade will double the overhaul capacity of the Mandai Depot workshop. It will reduce the overhaul time for the Thomson-East Coast Line trains from 24 days to 12 days. This project is jointly undertaken by STRIDES Technologies and CRRC Qingdao Sifang, with the support of LTA.

JARVIS is another major transformation initiative that strengthens SMRT’s use of data and AI in rail maintenance. Developed by STRIDES Technologies in collaboration with Oracle, it integrates maintenance, condition-monitoring and operational data across the rail network. Using predictive analytics, advanced visualization and large language models, it helps engineers identify potential issues earlier, plan maintenance more effectively, and make faster decisions. 

JARVIS is being deployed progressively across SMRT’s rail network. Phase 1, launched in January 2026, brought together data from the North-South and East-West Lines, and included 11 analytics modules. Examples of these modules include those that help engineers prioritise preventive maintenance for assets such as platform screen doors and monitor track-side radio equipment that could affect train services. To date, JARVIS has helped to initiate more than 500 maintenance inspections to address early signs of component degradation before they affect operations. In Phase 2, the use of JARVIS will be extended from the rolling stock and signaling systems to the track and power systems.

Collaboration with Guangzhou Metro
In June this year, SMRT Trains announced the opening of SMRT-Guangzhou Metro Rail Innovation Lab at Bishan Depot. Established with Guangzhou Metro Group (GMG), the lab is intended to speed up the adoption of practical data-backed solutions to improve rail reliability and commuter experience. The partnership enables the two teams to exchange technical expertise, learn from each other’s operating experience and strengthen capabilities in areas such as maintenance, engineering and rail innovation (Please refer to Annex A for more details).

On 3 June 2026, SMRT Trains also inked a teaming agreement to partner with GMG for the Cross Island Line (CRL) bid. The CRL will be Singapore’s longest fully underground MRT line, with 11 interchange stations and a projected daily ridership exceeding 600,000 in its initial years. The combined experience of SMRT and Guangzhou Metro will serve Singapore well on a project of this scale. Besides their mature rail digital solutions, Guangzhou Metro brings strengths in planning, operating and maintaining high-capacity rail lines. They also have experience operating and maintaining rigid overhead power systems in tunnels. Unlike conventional suspended overhead wires, this system uses a rigid conductor bar installed close to the tunnel ceiling. Trains draw electricity from it via pantographs mounted on their roofs. This provides a reliable power supply while requiring less overhead space in tunnels. First introduced locally on the North East Line extension, the system will be deployed on a much larger scale across the Cross Island Line.

Mr. Ngien Hoon Ping, Group Chief Executive Officer, SMRT Corporation, said: "As Singapore's rail network grows, we must continue building the engineering capabilities needed to support it. This means investing in our people, technology and AI to raise safety and reliability standards. It also means transforming the way we operate and the way we maintain our assets and systems. These investments will strengthen SMRT's ability to deliver a world class public transport network that Singapore can be proud of for many years to come.”

Building Financial Resilience with Engine B
In July 2024, SMRT organised its businesses under a twin-engine structure to sharpen the focus of each business while strengthening the Group as a whole. Engine A comprises SMRT’s regulated public transport businesses—SMRT Trains and SMRT Buses—and focuses on deepening operational and engineering capabilities. Engine B comprises its non-fare businesses, and is built on the foundations of Engine A.

While strengthening Engine A, SMRT has also expanded the commercial businesses under Engine B. In the last financial year, STRIDES Premier (SP) expanded its limousine and specialised vehicle businesses. It introduced a new fleet of DENZA D9 electric limousines for corporate clients and became an authorised repairer for DENZA vehicles. With this partnership, SP gains direct access to original spare parts, technical expertise, and manufacturer support from BYD. SP also expanded its specialised vehicle business through a contract with SATS to maintain airport ground support equipment, refurbish upper-deck catering trucks, and modify LTA’s new BYD electric public buses. 

STELLAR ACE, the advertising arm of SMRT, is Singapore’s largest outdoor advertising player. In the past year, Stellar Ace invested around $4.5 million in enhanced digital panels to deliver more impactful campaigns, as well as formats powered by technology to serve up more targeted campaigns and bring greater vibrancy to our stations.  ​

In May this year, the Ministry of Culture, Community and Youth (MCCY) and Stellar Ace launched Journeys for Good, a S$1 million initiative providing Institutions of a Public Character (IPCs) with complimentary advertising space across the SMRT network, including MRT stations, trains and bus shelters. The initiative drew an overwhelming response, with proposals from 179 IPCs. Following an evaluation process, Stellar Ace decided to double the number of selected IPCs from the planned six to 12 for the 2026 edition. By bringing their stories and causes into everyday commuter spaces, Journeys for Good aims to heighten public awareness about these causes and encourage more people to contribute. The three-year initiative is funded with savings generated by SMRT’s Kaizen projects, and the 2026 edition is expected to be launched in September 2026.

RTS Link
The past year was defined by several critical firsts that brought the vision of a seamless cross-border journey closer to reality. In July 2025, the final rail connection to Woodlands North station on the Thomson-East Coast Line was successfully completed, following the steady advancement of track work toward Singapore. In October 2025, RTSO completed the final phase of the Off-Site System Integration Test at the Singapore Rail Test Centre. The test verified that the first RTS Link train could operate safely and smoothly with key rail systems, including rolling stock, signaling and platform screen doors.

As the project moves into an extensive phase of testing, safety remains our top priority. RTSO remains committed to delivering the project in accordance with the highest standards of safety, quality, and operational excellence. RTSO will continue to keep the Singapore and Malaysian Grantors updated on testing progress. The Grantors will announce the commencement of passenger service in due course, while RTSO will communicate fare details in consultation with all key stakeholders.

Looking Ahead: A Thoughtful Connection
As we enter the new financial year, our focus remains on delivering safe, reliable and commuter-centric journeys. We will continue to combine technology with the experience and judgment of our people. This will help us serve commuters better, improve our connections with the communities we serve. We remain committed to making tomorrow better than today.

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Annex B: SMRT Chairman Mr Seah Moon Ming's Opening Remarks