The Railway Assets Corporation (RAC) is a federal statutory body under the Ministry of Transport Malaysia. It was established pursuant to the Railways Act 1991 (Act 463) and gazetted under Government Gazette No.16, Volume 36, on July 30, 1992. RAC became fully operational on Aug 1, 1992, coinciding with the corporatisation of the Malayan Railway Administration (KTM), which was subsequently reconstituted as Keretapi Tanah Melayu Berhad (KTMB).
RAC was formed as a government agency to support the development of Malaysia’s railway industry in line with the standards of fully developed nations. This objective was realised through the enactment of the Railways Act 1991 and the revocation of the Railways Ordinance 1948, marking a significant structural reform of the national railway sector.
With the enforcement of the Act, KTM was dissolved and all its properties and assets, including railway land previously held under the Federal Land Commissioner, were vested in RAC. At the same time, railway service operations were assumed by the successor company, KTMB.
Beyond its role as the manager and administrator of railway assets, RAC also assumed KTM’s assets and liabilities to enable KTMB to operate without the burden of legacy debts. In this capacity, RAC functions as both custodian and strategic planner, overseeing and optimising railway assets into valuable properties capable of generating sustainable revenue for the Government. The corporatisation of KTM into KTMB was undertaken to reduce long-term reliance of the national railway industry on government funding.
In 2015, RAC undertook a comprehensive rebranding exercise under the RAC Transformation Month Programme 2015. The initiative aimed to strengthen the Corporation’s corporate identity and reflect its expanding, globally attuned role, particularly in empowering and advancing the nation’s railway sector.
As part of this transformation, RAC introduced a new logo, acronym and corporate colours aligned with its evolving functions and responsibilities. The refreshed corporate identity was officially adopted on Nov 19, 2015.
