Establishment of Railway Assets Holding Sdn. Bhd.
On 6 April 2023, Railway Assets Corporation (RAC) officially established its wholly-owned subsidiary, Railway Assets Holding Sdn. Bhd. (RAHSB).
RAHSB was created as a separate entity to undertake business activities through strategic collaborations and profit-sharing arrangements, in line with RAC’s mandate to optimise national railway assets responsibly and effectively.
The establishment was approved by RAC’s Board of Directors in Meeting No. 3 of 2022 on 30 June 2022, and subsequently endorsed by the Ministry of Finance (MOF) through the Ministry of Transport (MOT) on 30 January 2023.
As a wholly-owned subsidiary, RAHSB operates under RAC’s strategic guidance, leveraging RAC’s resources and expertise to achieve sustainable business growth and support the long-term development of Malaysia’s rail industry.
Purpose of RAHSB’s Establishment
In line with Section 89(8) of the Railways Act 1991 (Act 463), RAC is mandated to ensure the effective, transparent, and accountable implementation of its functions for the benefit of the railway industry and society.
Given RAC’s status as a federal statutory body with limited operational flexibility and regulatory constraints, the establishment of RAHSB serves as an effective mechanism to enable RAC to execute its mandate under Act 463.
RAHSB functions as a separate legal entity, carrying out relevant operational and business activities while shielding RAC from direct liabilities and ensuring independence, accountability, and sound corporate governance in all undertakings.
Role and Mandate of RAHSB
RAHSB plays a vital role in supporting RAC’s vision to become a Leader in Sustainable Railway Asset Management Transformation by 2030.
Its mandate includes recruiting highly skilled and experienced professionals aligned with RAC’s commitment to optimise railway assets into valuable properties that generate continuous revenue for the Government and drive the growth of Malaysia’s rail industry.
In fulfilling this mission, RAHSB works closely with RAC to align talent acquisition strategies, identify critical skill sets, and attract capable individuals who can contribute to the advancement of the national railway sector.
