by GLORIA HARRY BEATTY
PRASARANA Malaysia Bhd continues to intensify efforts to diversify its revenue sources through business segments beyond the sale of public transport tickets.
Transport Minister Anthony Loke Siew Fook said these efforts have borne fruit, with Prasarana recording a 5% increase in revenue in 2024, driven by various initiatives implemented.
He noted that this positive growth is expected to continue this year, particularly with the opening of the Shah Alam Light Rail Transit Line, scheduled for the third quarter of this year.
“However, revenue has not shown significant growth as fares remain unchanged, and most users utilise the My50 pass.
“This 5% increase is supported by the rise in passenger numbers,” he said during the presentation of Prasarana’s 2024 Performance Report today.
Loke added that Prasarana has been instructed to explore non-ticket business segments, including retail, advertising, technology and property operations such as Transit-Oriented Development (TOD).
“Prasarana is now focusing on TOD by leveraging land under these projects to generate additional income.
“The company is also actively generating revenue through advertising, including station naming rights.”
Loke emphasised that although Prasarana’s operations still receive significant subsidies from the government, maintenance remains a top priority.
“Prasarana’s maintenance expenditure for 2024 increased to RM177 million compared to RM89 million two years ago.
“This demonstrates our commitment to ensuring quality service for users.”
Meanwhile, he said that by May, the renewal of the My50 monthly pass will be extended to include eWallet options, in addition to counter payments.
Through the 2025 Budget, the government is continuing the My50 unlimited travel pass subsidy, which is expected to attract more new users.