It also depends
because if SBS were to remain as the operator of the NEL, and every
other line were to be operated by SMRT, then won't the passenger
ridership of SBS's NEL rise dramatically because NEL is connected
to DTL and all other lines? And also now the government is
developing the Punggol area. In a few years time, when Punggol West
LRT opens due to more people shifting into the area, SBS will also
have more profit from the LRT and NEL, because ppl will want to go
home by NEL from their workplaces mah. Also, SBS still has its
buses to back itself up if SMRT eventually buys over NEL. But wat u
said also makes sense lah. So we just need to wait and see what
happens to SBS in the end. 
Yes indeed SengKang and Puggol (correct me if i dunno how to
spell) are rapidly developing but SMRT have towns which are more
populated like YISHUN and WOODLANDS. This 2 towns compared to what
NEL is mainly serving is much higher in term of number of commuter
living in the town.
Yes indeed those 2 town SK and PUG are developing fast but
compared to SMRT, SMRT still stand a higher number of commuter
living of NSL, EWL and CCL.
If you are given a stock and you are asked to choose from SBS
and SMRT which one will you choose? The answers is obvious
SMRT.
So it is like very high chance that SBS will not survive in long
run le with SMRT protecting it NSL and EWL with STARIS system and I
do not see SBS doing anything to sort of not lose to SMRT except
the announcement system in 4 languages. lol
