Personally, I feel that SBS
Transit is now more of a bus operator, instead of the company it
seemed to be previously. SBS Transit now only focus on bus service, on
how to operate them and how to improve
them. All the
campaigns and so on are now done by LTA and the
government. If anyone notices, SBS Transit now hardly (or
never really) introduce its own company campaign (eg. http://www.sbstransit.com.sg/press/2007-03-31-02-S.aspx)
like in the past. Ever since the Government intervened, SBS
Transit's quality of bus services has
improved. For
instance, the waiting time for buses and crowding level of buses
are now, to some extent, reduced. 
Personally, I feel that SMRT is gradually returning back to its
former self - during the Singapore MRT Ltd days & during the
Trans-Island Buses days. In other words, the quality in all aspects
of SMRT has improved and is improving further. In terms of
technology, SMRT will soon catch up with SBS Transit, as it is
currently implementing all the technology that SBS Transit
implemented before the government intervened. When SMRT's first batch of Double Decker
buses enters service by 2016, along with the technology that would
all implemented by then, I am sure SMRT will be on par with SBS
Transit. 
As the government introduces more bus services in SMRT areas via
the BSEP, I guess this would increase SMRT's share in the public
bus services industry and reduce SBS Transit's share, such that
both shares will eventually equalise at 50%-50%. This will cease
SBS Transit's monoploy status. Along with SMRT catching up in
technology and having Double Decker buses in its fleet,
there is finally going to be real
competition between the two Public Transport
Operators! 
Thereafter, when everything is equal (except number of services
and buses) in both Public Bus Operators, I guess the Government
will say that whatever SBS Transit and SMRT have in common (by that
time) is the standard that a Public Transport Operator must
have.
When the standard (eg. must have a prescribed list of
technology, must have at least how much proportion of Double Decker
buses, etc.) is set, I guess the Government will then open up the
Public Bus Industry and invite other bus operators to become Public
Bus Operator in Singapore.
So... to some extent, the government is helping SMRT improve and
be on par with SBS Transit, while it pause SBS Transit's
improvement (in non-services areas). Personally, in my opinion, I
feel that it is only because the government intervenes that's why
SMRT implements the tracking system in its buses, introduces Double
Decker buses, etc. Somehow, I feel that SMRT is right now
being SBSTransit-nalised (becoming similar to SBS Transit).
Eventually, SMRT will be so identical to SBS Transit that the only
difference is just in the logo, livery, colours schemes (in buses)
and the uniform that the staff wears.
By then, when things become so identical, LTA will most likely
say that this is the standard that Public Bus Operators must have,
in order for them to get their license to operate public bus
services, or have their license renewed thereafter.
By then, there will be many depots (right now, I think there is
only the one at Bulim) and interchanges (I think the one at Joo
Koon is developed and owned by LTA) built by LTA and leased to
Public Bus Operators. Whereas for the ones owned by the respective
Public Bus Operators, LTA will probably take over them and be the
new owner of them, then lease them to Public Bus
Operators.
By then, I doubt any Public Bus
Operator would have the luxury of leasing an entire bus
depot/interchange. Most likely one bus depot/interchange will be
used by several Public Bus Operators, and every Public Bus Operator
can only lease parking lots, based on how many bus routes it
operates from the facility.
Meanwhile, there will surely be
excess buses that would not have space in the depot/interchanges,
if LTA takes over them and lease them to several operators. I guess
the government will either make it compulsory for every Public Bus
Operator to come up with their own money to buy land to build their
own parking space to park their buses, or (since land is scarce)
LTA will itself build one multi-storey storage building at every of
the four districts (north, south, east, west) of Singapore for
storing of buses, and make it compulsory for every Public Bus
Operator to rent the bus storage spaces at the buildings - the
proportion of storage space allocated in every storage building
would be based on the proportion of the PTO share in bus services
in the district the building is in. Somehow, I think many people
will complain and criticize if government chooses to do the second
option, because many people will say that the government waste
money build the multi-storey bus storage buildings - unless the
government can justify that the rent it forced out of PTOs actually
can make profits after a certain number of years.
Just in case suddenly no buses are
deployed, the government would probably make it a must that the bus
storage buildings/spaces in total must have the provision of
accommodating a certain number of Public Bus
Operators.
By then, when the two Public Bus Operators become so identical,
all the infrastructure required for public bus services is owned by
the government, and all the provision of bus storage infrastructure
required are there, I guess the government will then open up the
Public Bus Services Industry and invite the Private bus operators
to become Public Bus Operators, and Public Bus Operators from other
countries to come to Singapore and be Public Bus Operators
here.
By then, there will be a great competition among the Public Bus
Operators in the Public Bus Services industry. The government will
set the standards and regulate/control the industry, while the
Public Bus Operators compete among themselves to remain in
competition and avoid being replaced by other Public Bus Operators.
In other words, by then, the Public Bus Services industry will be
based on Contracts model.
