RAC Profile

Railway Assets Corporation (RAC) is a Federal Statutory Body under Ministry of Transport Malaysia. RAC was established under the Railways Act 1991 (Act 463), commence officially as an organisation on 1st August 1992 and gazetted under Volume 36 No.16 on 30th July 1992. RAC was fully operated on 1st October 1992.

In conjunction with the establishment of RAC, Keretapi Tanah Melayu (KTM), a public entity which exists since 1894 was disband and officially known as Keretapi Tanah Melayu Berhad (KTMB).

At the same time, Department of Railway (DOR) was formed to ensure and promote safe, efficient and affordable railway transport system in Malaysia. It is hoped that with the formation of RAC and DOR, KTMB will concentrate to enhance the level and quality of railway services in the country and to rejuvenate their image.

With the corporatisation of railway operations, the responsibilities and roles given to RAC were as below:

1. Responsible to the management of all assets and liabilities which is owned and liable by KTM and railway lands vested by Federal Lands Commissioner before 1 August  1992 to RAC;
2. To execute the development and redevelop the railway infrastructures; and
3. To finance railway infrastructure development using sources gathered from various activities such as rental, lease and government allocation.

RAC LEADER

Railways Assets Corporation (RAC) is lead by seven (7) member of non-executive Board of Director that consists of representative from Ministries and agencies. Section 89(2) Railways Act 1991 (Act 463) stated that members that will be appointed by Minister are:

1. One representative of Ministry of Transportation;
2. One representative of Treasury;
3. One representative of Economic Planners Unit;
4. Federal of Commissioner Land;
5. Manager of Railways Assets Corporation (RAC) will automatically become a members of ex-officio; and not more than two other members.

FUNCTION OF RAILWAYS ASSET CORPORATION

According to Railway Act 1991 (Act 463), the functions of RAC are:

1. Section 89(8)
   1. To manage, administer and maintain:
      1. All property and rights of the Malayan Railway Administration under the repealed Ordinance which by virtue of Section 92, are vested in the Corporation;
      2. All property vested in, held or acquired by the Federal Lands Commissioner under the repealed Ordinance which by virtue of Section 93 are vested in the Corporation, and to manage and administer all liabilities in respect thereof;
   2. To undertake projects for the development or redevelopment of any railway infrastructure or facilities; and
   3. To carry out and perform such other functions as may prescribed by the Minister under this Act.
2. Section 92(2)
   All property, rights and liabilities of the Malayan Railway Administration under the repealed Ordinance shall, upon commencement of this Act, vest in the Corporation without any conveyance, assignment or transfer whatsoever and all references to “Malayan Railway Administration” or “General Manager, Malayan Railway” in relation to such property in any instrument, deed, title, document or written law shall be construed as if all such references were references made to “RAC”.
3. Section 93
   All property vested in, held or acquired by the Federal Lands Commissioner under the repealed Ordinance shall vest in the Corporation under this Act without any conveyance, assignment or transfer whatsoever for the like title, estate or interest and on the like tenure as the same was vested or held immediately before the commencement of this Act and all references to the “Federal Land Commissioner”, in relation to such property in any instrument, deed, title, document or written law shall be construed as if such references were references made to the “RAC”.