Editing KL Monorail (section)

==History==
This urban monorail line was opened on 31 August 2003, with 11 stations running {{convert|8.6|km||abbr=on}} on two parallel elevated tracks. It connects the [[KL Sentral]] transport hub in the south and [[Titiwangsa station|Titiwangsa]] in the north with the "Golden Triangle", a commercial, shopping, and entertainment area consisting of the [[Bukit Bintang]] area, and surrounded by ''[[Jalan Imbi]]'', ''[[Jalan Bukit Bintang]]'', [[Jalan Sultan Ismail]], and ''[[Jalan Raja Chulan]]''.<ref>{{Cite web|url=http://www.visitkl.gov.my/visitklv2/index.php?r=column/cthree&id=26&place_id=472|archive-url=https://web.archive.org/web/20201203223506/http://www.visitkl.gov.my/visitklv2/index.php?r=column/cthree&id=26&place_id=472|url-status=dead|archive-date=3 December 2020|title=RapidKL Monorail|website=Official Portal Visit Kuala Lumpur|publisher=Tourism Unit, Kuala Lumpur City Hall|access-date=21 September 2019}}</ref>

The monorail scheme was announced by [[Kuala Lumpur City Hall]] in January 1990 after the Malaysian Government gave the go-ahead to the scheme at a cabinet meeting in June 1989. Its cost was then estimated at RM 143 million. The {{Cvt|14|km}}, 22-station system is designed to carry more than 34,000 passengers a day on a 20-minute loop through Kuala Lumpur's bustling commercial core. The plan is to build it in two phases: in the first, 16 stations will be served over {{convert|7.7|km||abbr=on}}; and in the later stage, another {{convert|6.5|km||abbr=on}} loop will be added. The first phase was expected to be completed within two years.<ref name="history">{{cite news |work=[[Far Eastern Economic Review]] |date=26 September 1991 |title=Off the Rails: Kuala Lumpur's Monorail Project Becomes Bogged Down |last=Doug |first=Tsuruoka}}</ref>

According to plans dating back to the 1990s, the planned line was to have two branches (similar to the [[Ampang Line|Ampang and Sri Petaling Lines]]), with one branch going via [[Maharajalela Monorail station|Maharajalela]] station and then on to the city centre, and the other branch going to [[Mid Valley Komuter station|Mid Valley]], [[Abdullah Hukum LRT station|Abdullah Hukum]], [[Jalan Klang Lama]] and ending at Kampung Pasir, which will probably include integration with [[KTM Komuter]]'s [[Tanjung Malim–Port Klang Line|Port Klang Line]] at [[Petaling Komuter station|Petaling]] or [[Pantai Dalam Komuter station|Pantai Dalam]] stations. [[KL Sentral]] and [[Tun Sambanthan Monorail station|Tun Sambanthan]] were planned to be the common stations.<ref>{{cite web|url=https://www.angelfire.com/80s/immortality/kltransit.gif|access-date=6 March 2017|title=KLTransit}}</ref><ref>{{cite web|title=Transit System Map (1998)|url=http://1.bp.blogspot.com/-jUYZ6caRQBc/T-AjOa8fCNI/AAAAAAAAAEI/9NpHJg9wSiE/s1600/LRT_map.GIF|access-date=16 January 2018}}</ref> Ultimately only the downtown branch was built, due to the [[1997 Asian financial crisis]].

While another plan from Kuala Lumpur People-Mover Rapid Transit (PRT), under the "Kuala Lumpur Linear City" development plan, depicts that the project will include building {{Convert|16|km}} of twin track monorail guideway beams, 20 elevated stations, two depots and 14 monorail trains. There will be two phases to the project's construction. Between Jalan Tun Razak and Brickfields, Section 1 will span approximately 8 kilometres, while Section 2 would connect Tun Sambanthan and KL Sentral Station via a 12-stop shuttle service. Section 2, which is unfinished and spans {{Convert|8|km|abbr=on|adj=on}}, begins in Brickfields and travels via Kampung Abdullah Hukum, Lembah Pantai, Pantai Dalam, Taman Desa, OUG, and finally ends at Kampung Pasir. KL PRT Sdn Bhd would oversee the project management while carrying out the PRT transport system's construction, upkeep, and operation during the course of a 30-year concession. The PRT system planned to accommodate up to 18,000 passengers per hour per direction (pphpd) with 168 seats in each train and 630 passengers per train at a headway of up to two minutes between trains. The first section of the project, which runs between P. Ramlee Station and Hang Tuah Station, was supposed to be finished in time for trial runs during the Commonwealth Games in September 1998. Construction on the project started in December 1996 and Sections 1 and 2 were scheduled to be finished in early 1999 and 2000 respectively.<ref>https://www.researchgate.net/publication/315836442_AN_LRT-BUS_STRATEGY_FOR_GREATER_KUALA_LUMPUR_WHAT_FUTURE_INTEGRATION_1 {{Bare URL inline|date=August 2024}}</ref>

Work was scheduled to begin in June 1990, but was postponed to May 1991 after the city's mayor complained that tenders submitted for preparatory work were too high. There has been no activity on the project since and few details are available on how the project is expected to proceed. The main contractor is a local company, BNK, which had little success in its search for backers to finance its share of the venture. Part of its problem in securing money stems from the project's escalating cost estimates, and part from its lack of a track record in handling such huge projects.<ref name="history"/>

Construction was re-initiated by [[Hitachi, Ltd.]], but the [[1997 Asian financial crisis]] led to cessation of work in December 1997. When work was resumed in July 1998, [[MTrans|MTrans Holdings]] took over, locally manufacturing its own rolling stock and completing the project to save cost;<ref name="MonorailsOfAsia"/> the line was completed at a cost of MYR 1.18 billion.

As the line was opened in 2003, it was agreed that the parent company and owner of the KL Monorail Line, KL Monorail System Sdn Bhd (KLMS) under its parent company KL Infrastructure Group (KL Infra), would hold a 40-year concession to operate the monorail.<ref>{{Cite web |date=10 April 2005 |title=KL Infrastructure Group |url=http://www.monorail.com.my/klig/intro.htm |access-date=14 July 2023 |archive-url=https://web.archive.org/web/20050410143646/http://www.monorail.com.my/klig/intro.htm |archive-date=10 April 2005 }}</ref> The line and number of stations remains unchanged since 2003. Based on 1999 transit map, Originally KL monorail line have 19 stations, start from Titiwangsa, Chow Kit, Wawasan, P. Ramlee, Raja Chulan, Bukit Bintang, Imbi, Hang Tuah, Merdeka, Sultan Sulaiman (cancelled), Tun Sambanthan, subsequently unbuild line from Syed Putra, Taman Seputeh, Abdullah Hukum, Lembah Pantai, Pantai Dalam, Taman Desa, OUG and Kampung Pasir.<ref>{{Cite book|last=Azliana Ahmad|title=Peranan Sistem Transit Aliran Ringan (STAR) dalam mengatasi masalah pengangkutan awam di bandar Kuala Lumpur|publisher=Jabatan Antropologi dan Sosiologi, Fakulti Sastera dan Sains Sosial, Universiti Malaya, 1998/99|year=1999|location=Universiti Malaya|pages=Lampiran 2|language=ms}}</ref>

Since the start of operations, the KL Infrastructure Group suffered losses due largely to [[depreciation]] and [[interest]] repayment costs.<ref name="takeover">{{cite news |url=http://www.btimes.com.my/Current_News/BT/Wednesday/Nation/BT619739.txt/Article/ |title=KLIG in talks to exit monorail business |location=Kuala Lumpur |access-date=25 April 2007 |date=25 April 2007 |newspaper=[[New Straits Times]] (Business Times)}}{{Dead link|date=September 2010|bot=H3llBot}}</ref> For the financial year to 30 April 2004, KL Infra posted a net loss of MYR 46.24 million on a MYR 15.08 million revenue.<ref name="Financial status">{{cite news |url= http://www.monorail.com.my/pressclippings1.htm |title=MTrans upbeat on mass transit project in W. Asia |last=Abu Bakar |first=Dalila |date=24 September 2004 | location=Kuala Lumpur |newspaper=[[New Straits Times]] (Business Times) |archive-url= https://web.archive.org/web/20070213183247/http://www.monorail.com.my/pressclippings1.htm |archive-date=13 February 2007 |access-date=2 September 2014}}</ref> KL Infra had also taken up a MYR 300 million Malaysian government loan and a MYR 260 million infrastructure loan from the Bank Pembangunan Malaysia Berhad (BPMB) (The development bank of Malaysia) ({{Langx|ms|Bank Pembangunan Malaysia}}, BPM). {{Citation needed|date=April 2023}} In addition, KL Infra had proposed to buy MTrans' three subsidiary companies to improve its business, but failed after [[Scomi]] bought up some of the targeted companies.<ref name="takeover"/>

===Government takeover===
In April 2007, talks were under way between KL Infra and the government and the Bank Pembangunan Malaysia Berhad to sell the KL Monorail Line to the [[Prasarana Malaysia]], which then had already owned both the [[Kelana Jaya line]] and the [[Ampang line]], as well as 10% of KL Infra shares. KL Infra was cited as intending to exit Malaysia's monorail business. The takeover is part of the government's master plan to improve the urban public transport sector.<ref name="takeover"/><ref name="takeover2">{{cite news|url=http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_23c10dc8-cb73c03a-166c1140-6c7f06b2 |title=Syarikat Prasarana Negara in talks to take over KL monorail |location=Kuala Lumpur |access-date=25 April 2007 |date=24 April 2007 |work=[[The Edge (Malaysia)|The Edge]] |archive-url=https://web.archive.org/web/20070427021353/http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_23c10dc8-cb73c03a-166c1140-6c7f06b2 |archive-date=27 April 2007 |url-status=dead }}</ref>

SPN gave its agreement in principle to the takeover on 22 December 2006 and a follow-up meeting was held on 6 February 2007 with the government on the takeover of its operational assets and assumption of loan liabilities. {{Citation needed|date=April 2023}}A due diligence audit was conducted from 5 March 2007 to 27 April 2007 by consultants appointed by the government. Following agreement to the takeover, BPM granted KL Monorail an extension until 29 April 2007 for an interest repayment amounting to MYR 4,244,801.91, which was originally due on 29 December 2006.<ref name="default">{{cite web|url=http://announcements.bursamalaysia.com/EDMS/annweb.nsf/LsvAllByID/482568AD00295D07482572CD003B2C5E?OpenDocument |title=Bursa Malaysia General Announcement: Default in Payment Pursuant to Practice Note No. 1/2001 of the Listing Requirements of Bursa Malaysia Securities Berhad |date=30 April 2007 |url-status=dead |archive-url=https://web.archive.org/web/20120207040842/http://announcements.bursamalaysia.com/EDMS/annweb.nsf/LsvAllByID/482568AD00295D07482572CD003B2C5E?OpenDocument |archive-date=7 February 2012 }}</ref>

However, the takeover seemed to have suffered a setback at least from the perspective of KL Infra when on 26 March 2007, it was notified by BPM that it was not going to entertain any further extensions for interest repayment. Subsequently on 27 April 2007, the bank notified that it would not be granting any [[Debt moratorium|moratorium]] on interest repayments. On 29 April 2007, KL Monorail was not able to make the repayment of the interest instalment which had become due.<ref name="default"/>

On 3 May 2007, KL Monorail was issued a default notice by BPM which sought repayment of the entire principal sum of MYR 609,616,423.73 and capitalised interest of MYR 296,428,910.88 totalling MYR 906,045,334.61. The company was granted seven days from that day to repay the entire sum, which it failed to do. {{Citation needed|date=April 2023}}On 14 May 2007, Mohd Anwar Bin Yahya and Cho Choo Meng were appointed receivers and managers by Amanah Raya, the Security Trustee for BPM. Nevertheless, the takeover process is still deemed ongoing, KL Infra stating that it will continue to engage the government and BPM to address the proposed takeover of KL Monorail by Prasarana based on earlier discussions and an approval in principle.<ref>{{cite web |url= http://announcements.bursamalaysia.com/EDMS/EdmsWeb.nsf/LsvAllByID/48256E5D00102DF3482572DB003B8F84?OpenDocument |archive-url= https://web.archive.org/web/20160304102333/http://announcements.bursamalaysia.com/EDMS/EdmsWeb.nsf/LsvAllByID/48256E5D00102DF3482572DB003B8F84?OpenDocument |url-status= dead |archive-date= 4 March 2016 |title=Bursa Malaysia General Announcement: Appointment of Receivers and Managers for KL Monorail System Sdn Bhd (KLMS) |date=14 May 2007}}</ref>

One of the effects of the appointment of receivers and managers is the possibility that KL Infra will not be receiving any compensation for KL Monorail should the takeover by SPN go through.<ref name="receivers2">{{cite news |url= http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_b19f88d9-cb73c03a-a1aa8500-f458f34f |title=Corporate: Puzzle over bank's move on KL Monorail |access-date=23 May 2007 |author=Lim Ai Leen |date=21 May 2007 |location= Kuala Lumpur |work=[[The Edge (Malaysia)|The Edge]] |archive-url= https://web.archive.org/web/20070928001844/http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_b19f88d9-cb73c03a-a1aa8500-f458f34f |archive-date=28 September 2007}}</ref>

The trading of KL Infra was suspended from 15 May 2007.<ref>{{cite web |url= http://announcements.bursamalaysia.com/EDMS/EdmsWeb.nsf/LsvAllByID/685805F26B93EA8A482572DC0008E94F?OpenDocument |archive-url= https://web.archive.org/web/20160303165258/http://announcements.bursamalaysia.com/EDMS/EdmsWeb.nsf/LsvAllByID/685805F26B93EA8A482572DC0008E94F?OpenDocument |url-status= dead |archive-date= 3 March 2016 |title=Bursa Malaysia General Announcement: KL Infra - Suspension of trading |date=15 May 2007}}</ref> On the same day, KL Infra's board announced to Bursa Malaysia that it had formed the opinion that it was not solvent and would not be able to pay all its debts in full within a period not exceeding twelve months.<ref>{{cite web |url= http://announcements.bursamalaysia.com/EDMS/EdmsWeb.nsf/LsvAllByID/48256E5D00102DF3482572DC003892A8?OpenDocument |archive-url= https://web.archive.org/web/20160303214443/http://announcements.bursamalaysia.com/EDMS/EdmsWeb.nsf/LsvAllByID/48256E5D00102DF3482572DC003892A8?OpenDocument |url-status= dead |archive-date= 3 March 2016 |title=Bursa Malaysia Announcement: Default in Payment Pursuant to Practice Note No. 1/2001 of the Listing Requirements of Bursa Malaysia Securities Berhad |date=15 May 2007}}</ref> On 28 November 2007, [[Prasarana Malaysia]] signed a sale-and-purchase agreement with KL Monorail Systems, effectively making Prasarana the operator of KL Monorail, and resulting in Prasarana taking over the MYR 882 million BPM loan.{{Citation needed|date=June 2010}}