The Ministry of Malaysia has launched the 27.1 hectare Ipoh Sentral project, designed to integrate bus and rail services and reduce the city’s reliance on private vehicles. The development will be implemented in two phases over 20 years and is aimed at cutting carbon emissions and promoting sustainable urban growth. The ministry plans to modernise Ipoh’s transport system while preserving heritage sites, including the 1917 Keretapi Tanah Melayu Bhd (KTMB) station and nearby cultural landmarks.
The project, structured as a public-private partnership, involves the Railway Assets Corporation (RAC), the Perak state government, and Malaysian Resources Corporation Bhd (MRCB). It will be developed by MRCB’s subsidiary Country Annexe Sdn Bhd and Ipoh Sentral Sdn Bhd. With an estimated gross development value of MYR6.3 billion and development costs of MYR5.6 billion, CIMB Securities projects a profit of MYR630 million, or about MYR32 million annually. The initiative is expected to enhance Ipoh’s economy, increase rail ridership, and provide long-term financial returns for the government, RAC, and MRCB.