SMRT Corporation and United Overseas Bank (UOB) have entered into a Memorandum of Understanding (MOU) to transform train stations in Singapore into retail hubs and improve support for small and medium-sized businesses within SMRT’s transit network. The agreement, signed at SMRT’s headquarters, aims to combine financial and digital services to help retailers adapt to changing business conditions and enhance the experience for commuters.
Under this partnership, new and renewing tenants of Stellar Lifestyle, the retail arm of SMRT, will be able to replace their traditional cash security deposits with banker’s guarantees from UOB. This move is expected to free up working capital equivalent to three months’ rent for eligible merchants. With approximately 800 retail spaces across the SMRT network serving over two million daily commuters, this initiative is intended to benefit both existing and incoming Stellar Lifestyle merchants.
In addition to freeing up cash flow, tenants will have access to UOB BizSmart—a suite of digital tools that help streamline accounting, human resources, payroll, point-of-sale systems, and digital marketing operations. UOB advisers will offer complimentary consultations on digital solutions tailored for each business. Some of these digital services will be provided either free or at discounted rates.
The MOU supports Singapore's national efforts toward SME digitalisation by helping businesses become more resilient through technology adoption amid changing retail trends.
Other elements of the agreement include enhancing the retail environment in train stations through collaborative campaigns featured on Stellar Lifestyle’s WINK+ app and integrating new advertising technologies developed under the Stellarate Innovation Programme. These measures are designed to provide commuters with greater access to deals while helping merchants improve customer engagement.
The scope of cooperation also extends into transportation services via SMRT’s subsidiary STRIDES. UOB cardholders may gain access to limousine services offered by STRIDES within Singapore, while STRIDES plans partnerships with UOB Travel for taxi and cross-border transport between Singapore and Malaysia. Additionally, car buyers referred by STRIDES may receive preferential auto loan rates from UOB.
Both organizations plan further collaboration in areas such as supply chain financing—helping vendors within SMRT’s network strengthen liquidity—and sustainability initiatives. UOB will provide advisory services related to environmental standards as well as market entry guidance for overseas partners looking to expand regionally.
Mr Tony Heng, President of Stellar Lifestyle, said: “Retail SMEs are the heartbeat of our communities, yet many are facing unprecedented challenges in recent times. At Stellar Lifestyle, we are deeply committed to helping our SME tenants reduce their operational costs and equip them with innovative solutions for growth. Our partnership with UOB marks a significant step forward in unlocking vital cash flow for our merchants, enabling them to thrive longer, even in tough times.”
Mr Frederick Chin, Head of Group Wholesale Banking and Markets at UOB added: “Connectivity has always been a core pillar of our Bank, as we connect businesses across ASEAN and support their regional growth. This collaboration with a like-minded partner like SMRT will benefit a wide range of stakeholders, including retailers who want to future-proof their businesses as well as commuters seeking more transport options. This also supports SMRT’s long-term sustainability roadmap and strengthens regional business ecosystems.”
Lance Tang, Co-Founder and Group Director of Dancepointe Academy—a tenant benefiting from the initiative—noted: "As one of the first Stellar Lifestyle tenants to apply for this UOB financing solution, we are confident it will make a real difference to our business. With more flexible cash flow, we can invest in upgrading our store, improving the commuter experience, and identify opportunities for expansion into other retail spaces. The additional digital solutions and advice from UOB will also help transform daily operations, which is a big win for SMEs like ours."