Why Are LRT Stations Being Rebranded And Renamed Like 'Bank Rakyat-Bangsar'?
Even you could have a station renamed after you if you have RM3 million!
1. Bukit Bintang station is now 'AirAsia-Bukit Bintang'
Earlier on 9 October 2015, AirAsia painted the Bukit Bintang Monorail Station in red, officially renaming it as AirAsia-Bukit Bintang.
To help people book flights, AirAsia has created a new sales centre at the monorail station currently offering a 20% discount for selected routes such as Bangkok in Thailand, Clarke in the Philippines as well as Langkawi and Penang from until 19 October for travel from 12 October 2015 to 29 October 2016.
2. Bangsar LRT is renamed to 'Bank Rakyat-Bangsar'
The second station to be renamed is Bangsar LRT station. Unveiled on 12 October 2015, it is now known as the Bank Rakyat-Bangsar. The station is located just under one kilometre from Bank Rakyat's headquarters in Brickfields.
Aside from the design and colours to promote the brand, Bank Rakyat has also renovated the station's surau. According to a report in The Malaysian Insider, the renamed station would offer services such as ATMs and CDMs, as well as feature brochures and campaigns advertising Bank Rakyat’s products.
3. Universiti LRT will be renamed 'KL Gateway-Universiti'
Later this month, Universiti LRT station will also be rebranded by developers Sueze Capital, and will be renamed the KL Gateway-Universiti after the adjacent property development in Kampung Kerinchi.
Why are these stations being rebranded?
This is happening under a partnership with Prasarana Malaysia Berhad (Prasarana), the asset owners of the KL Light Rail Transit (LRT) and Monorail Services and out of home advertising agency Big Tree Outdoor Sdn Bhd.
The programme, billed as the first of its kind in South-east Asia when launched last year, allows corporations and brands to transform selected stations to reflect the brand’s corporate identity and name the station after themselves in exchange for a fee.
According to Prasarana, there has been much interest from various brands and corporations after the exercise was launched, with the company receiving many enquiries from various businesses ranging from travel to retail to property and telecommunications.
Other than selling naming rights, Prasarana is looking to grow its non-fare revenue to 30% by 2017 by cultivating property development related businesses, advertising, parking facilities and retail outlets.
The Star reports that the cost for companies to stamp their mark on the LRT and Monorail stations starts from around RM3 million for 3 years, depending on the level of transformation required
According to Prasarana group president and CEO Datuk Azmi Abdul Aziz, the Station Naming Rights Programme is part of initiatives to increase usage of public transport – with the aim of hitting 40% modal share by 2030 – by continuously upgrading infrastructure and facilities.
However, in order to do that, Prasarana needs to raise revenue from non-fared based sources, given the severe difficulties it faces in raising fares. Prasarana currently manages 49 LRT stations, 11 monorail stations and seven bus rapid transit stations.
Are these the only 3 stations to be rebranded?
So far, yes.
According to Prasarana group president and CEO Datuk Azmi Abdul Aziz, these 3 announced re-branding were the only ones confirmed so far.
However, there are other potential brands lined up and looking to collaborate with Prasarana. So expect more such rebranding of the LRT and Monorail services station in future. Moreover, Prasarana will add 25 more LRT and 31 MRT stations in 2017, when the LRT extension and Line 1 of the Klang Valley MRT projects are completed.
You will soon be able to use your bank cards to pay for LRT and Monorail services.
According to The Malaysian Insider, Azmi Abdul Aziz said Prasarana is working on the process that would effectively allow commuters to use their bank cards instead of cash to pay for train services in the city.
Speaking at the unveiling of the renamed Bank Rakyat Bangsar LRT station, Azmi said, "We will need time to work out the details. At the moment, we are moving toward NFC (near field communications), but we are also working on the bank card system now".
Moreover, if you have an account with Bank Rakyat you'll be given a 2% discount on ticket prices, according to Bank Rakyat chairman General (Rtd) Abdul Aziz Zainal.