Announcement

5 June 2024

1. Stellar Lifestyle, a business arm of SMRT Corporation, today signed a Memorandum of Understanding (MoU) with Taipei Rapid Transit Corporation (TRTC) to jointly explore new business models for non-fare businesses.

2. This milestone marks the latest development in the sister relationship between SMRT and TRTC over three decades. In October 2023, both parties signed a comprehensive agreement to share technical expertise and best practices in operations and maintenance, aiming to deliver best-in-class public transport services that are safe, reliable and comfortable.

3. Having previously collaborated on enhancing operations, maintenance and engineering capabilities, with a key focus on safety, both parties will now also cooperate on a new growth area following today’s signing.

4. Stellar Lifestyle will work closely with TRTC to deepen cross-learning by leveraging each other’s experience and expertise in operating and managing non-fare commercial businesses, with the goal of jointly elevating the customer experience for their commuters.

5. The MoU was signed by Mr Tony Heng, President, Stellar Lifestyle, and Mr Chun-yu Wu, Director, Commercial Development Division, Taipei Rapid Transit Corporation, and witnessed by Mr Ngien Hoon Ping, Group Chief Executive Officer, SMRT Corporation, and Mr Ching-Shinn Huang, President, Taipei Rapid Transit Corporation.

6. In addition to the signing ceremony, SMRT and TRTC engaged in discussions on best leadership practices and core aspects of rail operations and safety.

7. Mr Ngien Hoon Ping said: "SMRT is honoured to be invited to TRTC’s Leadership in Conversation Conference, where we had a lively exchange on the important topic of leadership and safety. Enhancing cross-border learning on safety is crucial for the continuous improvement of both our rail systems. We look forward to leveraging this collaboration to strengthen our safety and operational excellence, benefiting both our teams and the communities we serve."

8. Mr Tony Heng added: "Our partnership with TRTC is a testament of our commitment to enhancing the lifestyles of our commuters and customers through new and innovative experiences. This collaboration will enable us to continuously innovate as well as support SMEs from both Singapore and Taiwan in crossing borders and growing their presence in each other's markets. Together, we can work towards creating a brighter future for our businesses and communities."

9. Mr Ching-shinn Huang said: “After more than 30 years, we remain great partners with SMRT and its business subsidiaries. Our various collaborations over the years have contributed to the growth of the transportation sectors in both Taiwan and Singapore. Across the world, rail industries are facing similar challenges like rising operating costs. We hope that collaborations like this can help both TRTC and SMRT identify ways to increase revenue and reduce expenditure in the face of operational challenges, while also improving our service standards for our commuters.”

10. Mr Chun-yu Wu added: “To supplement the revenue generated from our transport services, we are proactively looking to expand our non-fare businesses. This can include potential opportunities such as expanding commercial and retail spaces, offering more advertisement options, or even introducing co-working concepts and umbrella-sharing services in our network. This MoU will allow TRTC and Stellar to create new possibilities for business innovation in both our markets.”

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