The Minister of Transport, Lui Tuck Yew, has repeatedly rebuffed calls by NCMP Gerald Giam of the Workers’ Party for public transport in Singapore to be nationalised. The Transport Minister in effect prophesied ‘apocalypse’ should such a situation occur.
However, in practice, the fact is that public transport is already nationalised! SMRT Corporation is owned by Temasek Holdings through their 54% controlling stake[1], and in turn, Temasek Holdings is fully owned by the Government of Singapore. The Singapore Labour Foundation (a statutory board), also has shares in ComfortDelgro who is the major shareholder of SBS Transit.” Full story
