Establishment of Railway Assets Holding Sdn. Bhd.
On 6 April 2023, the Railway Assets Corporation (RAC) established its wholly-owned subsidiary, Railway Assets Holding Sdn. Bhd. (RAHSB).
RAHSB was incorporated as a separate legal entity to undertake business activities through strategic collaborations and profit-sharing arrangements, in line with RAC’s mandate to responsibly and effectively optimise national railway assets.
The establishment was approved by RAC’s Board of Directors at Meeting No. 3/2022 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 direction, leveraging RAC’s resources and expertise to achieve sustainable business growth while supporting the long-term development of Malaysia’s rail industry.
Purpose of RAHSB’s Establishment
In accordance with Section 89(8) of the Railways Act 1991 (Act 463), RAC is mandated to implement its functions effectively, transparently, and accountably for the benefit of the railway industry and society.
As a federal statutory body, RAC operates within defined regulatory and operational parameters. The establishment of RAHSB provides a structured and flexible mechanism to support RAC in executing its mandate under Act 463.
RAHSB functions as a separate legal entity, undertaking relevant operational and business activities while safeguarding RAC from direct liabilities. This structure ensures independence, accountability, and sound corporate governance in all undertakings.
Role and Mandate
RAHSB plays a strategic 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 objective of transforming railway assets into valuable properties that generate sustainable revenue for the Government and drive the growth of Malaysia’s rail industry.
In fulfilling this mandate, RAHSB works closely with RAC to:
- Align talent acquisition strategies
- Identify critical skill requirements
- Attract capable professionals who can contribute to the advancement of the national railway sector
