Prasarana's Non-Ticket Revolution
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In the Spotlight

Prasarana's Non-Ticket Revolution

In the heart of Kuala Lumpur, a grand vision is unfolding. Prasarana Integrated Development Sdn Bhd (PRIDE), a subsidiary of Prasarana, has set its sights on a dazzling future, projecting an average year on year growth of 19 per cent in revenue over the next five years, to diversify revenue sources beyond ticket sales for the Group. This will be primarily fueled by strategic initiatives in the retail, advertising, technology, transit-oriented development (TOD) spaces.

Over the next five years, PRIDE is shifting its focus from “Transit Lifestyle” to a “Transit & Community Lifestyle” by creating a sustainable transit ecosystem & enhancing communities.

The maestro behind this grand performance is Fa’izah Khairuddin, the CEO of PRIDE. She envisions a diversified revenue stream, one that extends far beyond the confines of public transportation ticket sales. Currently, the non-ticket business contributes around 10% to PRIDE’s revenue, but they aim to transform this landscape.

In the world of advertising, PRIDE is making waves as an emerging player in "out-of-home" media services in the Klang Valley. With creative offerings and enticing packages, they're beckoning advertisers to explore bus and rail advertising, including the Station Naming Rights programme, a canvas for established brands to flourish in the public transport sector. Recently, PRIDE and redONE Network announced a partnership that entails the rebranding of the KL Sentral LRT station to KL Sentral redONE LRT station.

The retail segment is not far behind. PRIDE’s plans to create retail spaces that offer passengers comprehensive services, including in-train sales where travelers can purchase essentials online and collect them at the final station—a time-saving convenience akin to in-flight sales.

And then there's technology. Prasarana is set to transform LRT stations into lifestyle hubs. Imbi Monorail station, for instance, will undergo a thematic makeover to enhance the customer experience, creating a seamless link between Plaza Berjaya and Berjaya Times Square.

In the property segment, PRIDE is actively working on seven TOD projects, redefining the concept of high-density mixed-use development near transit stations—a trend popularised in Japan and Hong Kong. The completed Perla Ara Damansara project, strategically located next to the Ara Damansara LRT station, has been a resounding success, offering residents a unique blend of open market and affordable housing concepts within the same building.

As PRIDE charts its course for the future, the non-ticket business segment is poised for a dazzling crescendo. With innovation at the helm, this symphony of growth promises to be music to investors' ears.

Team Mobiliti
June 11, 2024