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New development financing framework
New development financing framework
New development financing framework must take into account emerging global challenges and be risk-informed, says UN Development Chief
The new financing framework due to be agreed at Addis Ababa for the universal post-2015 development agenda needs to be bold and transformative in supporting countries to tackle the challenges of eradicating poverty, environmental degradation, vulnerability to…
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Singapore's SMRT sought new finance framework ahead of stock surge-report
SINGAPORE, April 25:
Singapore’s SMRT Corp Ltd , the operator of the city-state’s main rail network, asked the government on Wednesday about a financing framework which would reduce its capital expenditure, The Straits Times reported.
SMRT shares shot up on Thursday to close 19% higher, prompting a “trade with caution” alert from the Singapore stock exchange. The shares were trading 3.3% lower on Friday morning at S$1.175.
A spokeswoman for SMRT declined to comment on the Straits Times report, which did not cite sources.
SMRT has previously expressed interest in changing to a financing framework that was introduced by the government in 2010.
Under this system, the government would own the assets, and be responsible for replacing them. This would free SMRT from having to incur huge capital expenditures on asset replacement.
