KUALA LUMPUR (Aug 19): Prasarana Malaysia Bhd is on track to deliver annual revenue between RM800 million and RM900 million in its financial year ending Dec 31, 2019 (FY19) while narrowing losses to achieve positive Ebitda by 2021, said its president and chief executive officer Datuk Mohamed Hazlan Mohamed Hussain.

Mohamed Hazlan, who has helmed the role since September last year, said at a media briefing on Prasarana's performance for the first half of 2019 (1H19) here today that the company has so far halved losses incurred in the past financial year, thanks to cost optimisation initiatives.

"We are well on our way of making a positive earnings before interests, taxes, depreciation, and amortisation (Ebitda). Costs are well contained and the ridership [figures] are on the way up," he explained.

In 1H19, Prasarana achieved cost reduction of RM248.7 million, exceeding its target of RM208.4 million, from initiatives including optimisation of maintenance, route, and electricity use.

In terms of ridership, rapidrail grew 10% to 112.7 million in 1H19, from 102.5 million in the same period a year ago, while rapidferry gained 233% year-on-year to 700,000, from 200,000. Rapidbus saw a 10% decline to 81.3 million, from 90.8 million previously.