Rapid KL (styled as rapidKL) is a public transportation system owned by Prasarana Malaysia and operated by its subsidiaries Rapid Rail and Rapid Bus. With its coverage throughout Kuala Lumpur and Klang Valley areas, it was followed by a federal government restructuring of public transport systems in Kuala Lumpur after the bankruptcy of STAR and PUTRA Light Rapid Transit operators, the precursors to the Ampang/Sri Petaling Lines and Kelana Jaya Line respectively. In 2003, it had inherited bus services and assets formerly operated and owned by Intrakota and Cityliner after being bailed out. Four years later, the Malaysian government had bailed out KL Infrastructure Group, the owner and operation concession holder for the Kuala Lumpur monorail, and had placed it under ownership of Prasarana. Rapid KL is part of the Klang Valley Integrated Transit System. The acronym stands for Rangkaian Pengangkutan Integrasi Deras Kuala Lumpur (English: Kuala Lumpur Rapid Integrated Transport Network). History Public transport restructuring The operation of Kuala Lumpur's Light Rapid Transit lines since its inception had lower ridership than expected, which led to the concessionaire operators of the LRT lines, Sistem Transit Aliran Ringan Sdn Bhd (STAR-LRT) and Projek Usahasama Transit Ringan Automatik Sdn Bhd (PUTRA-LRT) being unable to repay their commercial loans. The 1997 Asian financial crisis aggravated the situation, and by November 2001, the two companies owed a combined total of RM5.7 billion. The Government of Malaysia's Corporate Debt Restructuring Committee (CDRC) stepped in to restructure the debts of the two LRT companies. In 2002, both companies and their respective LRT services were bought over by Prasarana Malaysia, and operations of the lines eventually were transferred to Rapid KL. The Malaysian government would continue to bail out KL Infrastructure Group, which was the operator concessionaire holder and owner of the line, for RM 822 million. It was then promptly taken over by Prasarana Malaysia and operated by Rapid Rail since. The bus service in Kuala Lumpur was also facing problems with lower ridership due to an increase in private car usage and a lack of capital investments. The two new bus consortia formed in the mid 1990s to consolidate all bus services in Kuala Lumpur, Intrakota Komposit and Cityliner, began facing financial problems. Intrakota had reportedly accumulated losses amounting to RM450 million from the 1997 financial crisis until Prasarana Malaysia took over in 2003. With decreased revenues, the bus operators could not maintain their fleets,