MMC aims to submit KTMB privatisation study results in July
KUALA LUMPUR, May 29 — MMC Corporation Bhd, which is reviewing the proposed privatisation of Keretapi Tanah Melayu Bhd (KTMB), hopes to submit the results of a feasibility study to the government as early as July this year.
Group managing director Datuk Hasni Harun said about 40 to 50 per cent of the study has been completed.
“Our consultant has given us some models to review in order to turn around the company. We have a small team working on it right now. We are reviewing it and may go back to the government between July and August,” he told reporters after a corporate presentation on the sidelines of Invest Malaysia 2012 here today.
Hasni said the group is seriously reviewing several options to turn around KTMB as there are a lot of opportunities to tap into including ridership, cargo, freighters as well as synergy between MMC’s own port operations and KTMB’s train services.
This is not the group’s first attempt to take over the national rail company’s operations — in 2003, it teamed up with another construction and infrastructure giant, Gamuda Bhd, to try to take over KTMB assets.
KTMB currently incurs annual losses averaging RM200 million. — Bernama