The Straits Times reported that the Land Transport Authority (LTA) has received bids from 11 companies - four local and six foreign with one joint bid - for its inaugural public bus contract, signalling strong interest in a business that has long been deemed to be barely profitable.

The local bidders are Aedge Holdings and Woodlands Transport, as well as incumbents SBS Transit and SMRT Corp. The foreign entities are Busways (Australia), Jinan Public Transportation Corp (China), Keolis (France), RATP Dev Transdev (France), Go-Ahead (Britain) and Tower Transit (Australia). The joint venture is between local tour bus operator GSH and China's Jiaoyun Group.

It is understood that the winner will be announced in April, allowing the successful bidder about a year to prepare to start operating the Bulim package of 26 routes - named after a new depot to be built off Jurong West Avenue 2 - from as early as July 2016. Insiders reckon the five-year contract is worth around $100 million a year.

While the tender evaluation is under way, it is understood the LTA is already preparing to put two more route packages up for bidding - one in Mandai and the other in Loyang. Separately, SBS Transit and SMRT will have nine route packages to run when their current operating licences expire in August next year. When the nine expire in 2021, the two must jostle for rights to run them thereafter, like everyone else.