KUALA LUMPUR: Loss-making Keretapi Tanah Melayu Bhd (KTM) — which operates the intercity commuter services in the Klang Valley — has quietly appointed “railway man” Sarbini Tijan as its new president on May 1, replacing Datuk Elias Kadir.

A check on KTM’s website reveals that Sarbini’s photograph and new designation have been placed under the site’s listing of the company’s board of directors.

He started working in KTM since 1981 as a traffic officer, before being promoted through the ranks until his appointment as senior vice-president of business and operations.

“He is a railway man and he understands the issues and teething problems faced in KTM more than anyone else. It is not easy to turn KTM around, but, hopefully, he will execute the necessary turnaround plan to bring the company back to the black,” Railwaymen Union of Malaya (RUM) president Abdul Razak Md Hassan told The Edge Financial Daily over telephone.

Last year, Abdul Razak, along with his deputy R. Subramaniam, were sacked by Elias for organising a picket — which was attended by some 700 RUM members — to pressure Elias to step down. Elias, who was previously in Felda Holdings Bhd and Proton Holdings Bhd, was appointed to helm KTM on May 2, 2012, but was widely criticised for KTM’s dismal performance during his tenure.

For the financial year ended Dec 31, 2013 (FY13), KTM’s net loss narrowed to RM128.23 million from RM238.44 million in FY12, on lower administrative and operating expenses. Still, KTM’s accumulated losses in FY13 widened to RM2.422 billion from RM2.2 billion, respectively.

Revenue in FY13 grew 8% to RM491.82 million from RM454.67 million, driven by income from its commuter and electric train services, which surged 33% and 27.4%, respectively.

KTM is owned by the Minister of Finance Inc. However, its assets — worth some RM31.21 billion — are owned and managed by Railway Assets Corp, which is owned by the Ministry of Transport.

This article first appeared in The Edge Financial Daily, on May 25, 2015.