BTS Group Holdings Plc (BTS) announced on the Stock Exchange of Thailand (SET) that it has reached a deal with four Malaysian firms to collaborate on the construction and operation of light rail transport (LRT) system between Singapore and Malaysia.
Other participating companies include Sinar Bina Infra SDN Berhad, Ancom Berhad, Nylex Malaysia Berhad and LBS Bina Group Berhad.
The property and construction group said the collaboration will include integrated property development using the “transit-oriented development” (TOD) concept in the Johor Bahru metropolitan region.
The group also noted that the LRT project is subject to a feasibility study and the Johor state government granted its concession award.
The parties entered into the HOA to record the salient terms of the proposals, which would be incorporated into definitive agreements.
According to the HOA, Nylex will appoint BTS to commission a feasibility study on the commercial viability of a transport-oriented development in the Johor Bahru metropolitan region.
According to LBS Bina Group, the planned LRT project is expected to have a carrying capacity of 15,000 passengers per hour for each direction, similar to that of the existing RTS Link currently being built.
It could span up to 75 km, with the initial phase within the Johor Bahru city centre running around 9 km.
In line with Thailand’s economic recovery, analysts estimate that the transportation service has bottomed out in the third quarter of 2021 when restrictions were imposed to contain the Delta variant outbreak.
“BTS still has positive catalysts waiting in the long term,” Naruedom Mujjalinkool at Finansia Syrus Securities said in a note. Those include BTS line extensions and recovery of mass transit ridership, he added.
As of the morning session, BTS shares traded at 9.15 baht, down 0.54 per cent from their prior closing.
BTS Group Holdings Public Company Limited (BTSG), formerly known as Tanayong Public Company Limited, is a public company in Thailand. It is the majority shareholder of Bangkok Mass Transit System PCL (BTSC), the operator of the BTS Skytrain and the Bangkok BRT.
BTS Group has developed an innovative ‘3M strategy’; MOVE, MIX and MATCH, that leverages off its proprietary and primary MOVE and MIX networks.
Under the ‘Sharing Economy’ concept, BTS Group provides a unique MATCH solution to its partners; sharing access to both its MOVE network (providing ACCESS to customers) and its MIX network (providing broad and customised audience REACH).
The MOVE network itself is a pioneering concept to provide convenient and safe door to door transportation solutions to customers, which purposefully support UNSDG13 (climate action) by reducing carbon emissions and improving living conditions.
The MIX network has advanced beyond its leading OOH media capability to provide comprehensive O2O solutions combining advertising, payment and logistics services, incorporating smart DATA for optimising insight and customer satisfaction.