As a government-owned company since 1998, it operates stage bus and light metro services via several wholly owned subsidiaries.

Its main operations are the following: In an effort to increase revenue beyond advertising and fare collection, Prasarana Malaysia Berhad has introduced a new "station naming rights program", in which brands and companies will bid for a chance to rename and rebrand any selected stations owned by Prasarana for a fee.

This program runs in tandem with the infrastructure plan to promote the use of public transport and to improve facilities and services through the rebranding and upgrading of the stations.

KL Gateway is the major redevelopment of Kampung Kerinchi into premium residential, shopping mall & office tower by Suez Capital, a local property development.

The KLAV project will minimize Kelana Jaya Line headway frequency not more than 2.8 minutes when fully deploy a new additional order of 14 Bombardier Innovia Metro ART 300 in configuration of 4-car trainsets January 2016.

[12] The need for the Klang Valley's public transport system to be restructured became apparent almost immediately after the LRT lines began commercial operations when their ridership was much lower than anticipated.

The bus service in Kuala Lumpur was also facing problems with lower ridership because of an increase in private car usage and the lack of capital investments.

Because of this, public transport usage in the Klang Valley area dropped to about 16% of total trips, one of the lowest in the Asian region.

Rangkaian Pengangkutan Intergrasi Deras Sdn Bhd, the second government-owned company under the restructuring, was set up in 2004 to handle the operational aspects of the assets owned by Prasarana.

Putra-LRT was incorporated in Malaysia on 15 February 1994 to design, construct, finance, operate and maintain the Klang Valley's LRT system, known today as the Kelana Jaya Line.

[15] A proposal by the Corporate Debt Restructuring Committee, which involved the government taking over the two LRT lines and then leasing them back to the two companies, was deemed not acceptable.

[16] The restructuring began moving again when the government accepted the concept of setting up two separate government-owned companies, one to own and the other to operate public transport.

The purchase consideration was satisfied via the issuance of RM5.468 billion fixed rate serial bonds by Prasarana guaranteed by the government to the respective Star-LRT and Putra-LRT lenders.

A statutory demand, required under the Malaysian Companies Act 1965, was then issued by Prasarana on 26 December 2001 asking Putra-LRT to settle the amount owing within 21 days.

On 26 April 2002, the Kuala Lumpur High Court made an order for the winding up of Putra-LRT and on the same date, appointed the Gan Ah Tee, Ooi Woon Chee and Mohamed Raslan Bin Abdul Rahman as liquidators.

[18] Earlier on 3 April 2002, the Malaysia Ministry of Finance had officially announced that the government via Prasarana was taking over the assets of both Putra-LRT and Star-LRT.

The shareholders of Star-LRT, which was formed on 13 November 1991, were the Malaysian Employees Provident Fund (25%), Kuala Lumpur Transit Group Assets Sdn Bhd (a 50:50 joint venture between Germany's AEG Pte Ltd, the electronics division of Daimler-Benz, and British construction firm Taylor-Woodrow) (30%), Lembaga Urusan Tabung Haji (Pilgrims’ Fund Board) (15%), Lembaga Tabung Angkatan Tentera (5%), Kumpulan Wang Amanah Pencen (5%), STLR Sdn Bhd (5%) and Shell Malaysia/Sabah/Sarawak (5%), American International Assurance Co Ltd (10%), Apfin Investments Pte Ltd, the investment arm of the Singapore Government (5%).

On 8 December 2001, Prasarana issued a letter of demand for a sum of RM1,045,681,273.83 owing as at that date pursuant to a facility agreement entered on 13 August 1993.

On 10 December 2001, another letter of demand was issued to Star-LRT for a sum of RMI,498,538,278.58 pursuant to a loan agreement dated 17 July 1995 for the financing of Phase Two of the project.

On 26 December, it served statutory notice of demand on STAR-LRT, again asking for the return of the sum and the company only managed to make part payment.

On 3 May 2002, the High Court appointed Gan Ah Tee, Ooi Woon Chee and Mohamed Raslan Abdul Rahman as temporary liquidators.

1,000 Iveco TurboCities that were originally purchased at a cost of RM0.5 million each were found abandoned in Batang Kali and Rawang, each only guarded by a single security personnel.

Besides a reduction in the number of public transport users, the company also blamed the government's failure to implement its earlier policy of only having two bus consortia, one of which was Park May, to operate city buses in Kuala Lumpur for its financial difficulties.

This began affecting its bus operations as lack of maintenance caused frequent breakdowns, resulting in unreliable service.

Of this amount, RM13,456,649 was to be used as part redemption of the commercial paper/medium term notes programme which was obtained on 23 January 2007, and RM1,220,000 was to go towards defraying the expenses of the sale to Prasarana.