If SMRT is responsible to overhaul and/or replace the MRT rolling stock then much money needs to be spent.
The new CEO of SMRT emphasised that it is a listed company and in order to be tenable, must seek profits.
Listed companies' shareholders are sophisticated investors who risk potential losses while seeking potential profits.
Much money was generously given to help out the listed bus companies. So not sure if it will be the same with SMRT.