Business

Wednesday October 21, 2009

Big role for Prasarana


PETALING JAYA: Syarikat Prasarana Negara Bhd was created in 1998 as part of the Government’s initiative to restructure the public transportation system. However, it was only in the last few years that it began to take off in a big way.

Wholly-owned by the Ministry of Finance Inc, Prasarana now owns the Klang Valley’s light rail transit (LRT) systems, the bus fleets servicing the Klang Valley and Penang and the Kuala Lumpur Monorail system.

It had issued government-backed bonds to finance the acquisition of these transport assets.

While Prasarana maintains ownership of these public transportation assets, another Finance Ministry-owned company, Rangkaian Pengangkutan Integrasi Deras Sdn Bhd (RapidKL), operates most of them. Prasarana also manages the Langkawi cable car system.

Prasarana has also see changes in its management. Chairman Tan Sri Izzuddin Dali was appointed only last month, He retired as secretary general of Treasury to the Finance Ministry in February 2007.

Group managing director Datuk Idrose Mohamed was appointed last October when former CEO Shaipudin Shah Harun suddenly resigned on Sept 19. Idrose used to head PLUS Expressways Bhd and Pos Malaysia Bhd.

  • E-mail this story
  • Print this story