Chow said private Japanese rail companies were highly profitable as they ran a sustainable operations regime, which Penang hoped to emulate closely.
“A major reason for the success of Tokyo’s private rail lines is because they diversified their businesses beyond transportation into real estate holdings and retail outlets.
“Rather than relying strictly on farebox revenue and ads, the transit system in Penang should also develop other revenue sources, just as the Japanese private railways have done successfully.
“For this reason, we will look to Japan for its sustainable operations regime for mass transit infrastructure,” he said in a briefing on Penang’s Transport Master Plan (PTMP) to some 50 reps of Japanese companies operating in the state.
Also present were Embassy of Japan in Malaysia Deputy Chief of Mission and Minister Yoshinori Kodama and Japan Consul-General to Penang, Kiyoshi Itoi. They were accompanied by Penang Chief Minister Lim Guan Eng.
Penang plans to build its own Light Rail Transport (LRT) and other modes of public transport via PTMP.
The RM27 billion project will be financed by creating three artificial islands south of Penang Island.
The PMTP includes a 5-in-1 transport solution encompassing an undersea tunnel; a cable car service across the channel; ferries and water-taxis; light rail transit and monorail; including buses, taxis and highways.
Earlier, 48 representatives from 31 Japanese companies based in Penang participated in the seminar on PTMP. It was hosted by PTMP’s project delivery partner, SRS Consortium.
The Japanese entourage and company reps will go on a site visit to the south of Penang Island near Permatang Damar Laut later today.