Singapore's SMRT shares soar on hopes of rail system reform

Rail operator SMRT Corporation Ltd shares approached six-month highs on Friday after the Straits Times newspaper quoted a minister saying Singapore government should be ready to take over the city-state's privately run metro service. 

Singapore's Mass Rapid Transit rail system, run by SMRT and SBS Transit Ltd, have suffered a series of breakdowns in recent years, prompting public outcry. SMRT Corporation, Singapore's main rail operator, rose as much as 6.4 per cent to a near six-month high of S$1.575 ($1.13). SBS Transit shares gained 1.3 per cent to a 10-month high of S$1.95, according to Reuters.

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