THE Government has appointed a new joint-venture company (newco) to manage the public transportation system for the Klang Valley that includes the city bus services operated by Park May Bhd and Intrakota Komposit Sdn Bhd as well as the PUTRA and STAR light rail transit (LRT) operations.
Ending weeks of speculation, the Prime Minister’s Department said yesterday the newco formed by the consortium, comprising Datuk Mohd Nadzmi Salleh, KL Infrastructure Group Bhd (KLIG) and KUB Holdings Bhd with equity split of 40:40:20 respectively, would become the master operator of the system that carries over 80% of the commuter traffic into the federal capital. According to sources, the concession would be for a period of at least 10 years, but not exceeding 30 years.
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