Introduction
Railway Assets Corporation (RAC) was established under the Railways Act 1991 to manage and safeguard Malaysia’s railway assets. Under the Act, railway lands and assets previously under the Federal Land Commissioner (FLC) and KTM Administration are vested in RAC. The corporation also assumes KTM’s former liabilities, ensuring the successor company, KTMB, operates debt-free.
As a strategic asset manager, RAC plays a vital role in optimizing and transforming railway assets into sustainable sources of income for the government, while railway operations remain under KTMB’s management.
As a strategic asset manager, RAC plays a vital role in optimizing and transforming railway assets into sustainable sources of income for the government, while railway operations remain under KTMB’s management.
Below are the RAC Responsibilities under Railways Act 1991 (Act 463)
Railway land held by FLC and railway assets under KTM Administration are vested in RAC
Liabilities under KTM administration are taken over by RAC to enable the successor company, KTMB, to operate without any debt
RAC functions as manager and business planner to govern and interpret railway assets into valuable property capable of generating continuous income for the government
Railway operations under successor company KTMB
Powers of RAC
Railway land held by FLC and railway assets under KTM Administration are vested in RAC
Acquire and enjoy movable and immovable property
[Section 89 (1)]
Establishment, Membership and Functions
[Section 89(2) and 89(8)]
Appointment of Chief Executive Officer
[Section 90(1)]
Vesting of KTM property in the RAC
[Section 92(2)]