Transport as a Public Service

There's this thing about SMRT and the government which I do not understand. 

SMRT is listed in the Singapore Exchange. Which meant SMRT is all about profit making, as in the case of most companies listed in SGX right? So here Singaporeans go complaining about the hike in train and bus fares. Pffft. Isn't this something we (Singaporeans) should be expecting? SMRT's move is logical really. Which company, listed in SGX would run at operating cost/loss? Whatever price that we're paying for travel, some of the $$$ SMRT makes is definitely going into the shareholders pocket. 

Well I feel that public transport should not be privatised in the first place. 

But then again, hey, we're letting companies serve food to our soldiers and perform maintenance on our army vehicles. I'm not surprised if they're even outsourcing seats in Parliament.