Developers and the Railway Assets Corp are the ones making profits instead of the railway operator. FMTNews KTMB
I am going to talk about KTMB, the elephant in the room which many people notice but never talk.
Due to the privatisation policy drafted at that time, the rail body was broken into two parts; KTMB as the rail service operator and Railway Assets Corp , a new body formed purely to own all the railway land, stations and immovable assets, plus the responsibility to maintain them. The rail operator, KTMB, which originally owned the land, struggled to make ends meet and could not and still cannot even cover the railway’s operating expenses.
At the moment, RAC is independently entering into property development agreements with private sector companies in the name of Transit-oriented Development. All these developments will have a great bearing on rail travel demand which KTMB has to fulfil.
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