SBS Transit has recorded earnings of $32.6 million for 1HFY20, down 27.4% y-o-y. The bottomline was supported by government grants of $61.6 million which helped subsidise wages. If not, the company would have reported an operating loss of $29.4 million.

Total revenue for the six months was $603.2 million, down 14.9% y-o-y. Revenue from public transport services was down 13.4% y-o-y to $586.8 million. Other miscellaneous revenue such as advertising was down as well.

On the other hand, it incurred higher operating costs because of enhanced cleaning and disinfecting costs for their buses, trains, interchanges and depots, as well as the provision of accommodation for Malaysian staff affected by Malaysia border closure in March.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook