Hi Mobility Gears Up for Expansion in Klang Valley, Eyes Opportunities in Sabah and Sarawak
Strategic Growth Plans
Hi Mobility Bhd is set to expand its presence in the Klang Valley while exploring opportunities in Sabah and Sarawak as part of its strategic growth plans. The cross-border transport service provider is positioning itself to tap into the increasing demand for efficient and seamless public transport solutions.
Klang Valley Expansion
The company’s executive director and CEO, Lim Chern Chuen, highlighted the company’s commitment to enhancing its footprint in key urban centres. "The Klang Valley presents significant opportunities for us to expand our services and enhance mobility solutions for daily commuters. We are also assessing the potential for expanding into East Malaysia, where transport connectivity improvements are needed," he said.
Geographical Expansion
While no specific timeline was mentioned, Lim said Hi Mobility is actively studying market conditions and regulatory requirements before making its next move. The company is also exploring opportunities in Sabah and Sarawak, where transport connectivity improvements are needed.
Technological Advancements
Aside from geographical expansion, Lim said Hi Mobility is investing in technology to improve efficiency and the commuter experience. "We are exploring artificial intelligence and digitalisation to enhance fleet management, scheduling, and customer service. These technological advancements are expected to streamline operations and ensure higher reliability for passengers."
Electrification of Bus Operations
Lim also addressed the potential impact of the upcoming Johor Bahru-Singapore Rapid Transit System Link (RTS Link) on the company’s cross-border bus operations. "The RTS Link will not directly compete with our services but rather complement existing transport options, offering commuters more flexibility in their daily travel." Hi Mobility is also looking at enhancing its electric bus operations, which have gained traction as an efficient and environmentally friendly mode of transport.
IPO and Fund Raising
Hi Mobility aims to raise RM115.9 million through its initial public offering (IPO) on Bursa Malaysia’s Main Market on March 28. The company plans to use the funds to expand its bus fleet, including the acquisition of electric and internal combustion engine buses, as well as for technology upgrades and working capital.
Conclusion
Hi Mobility is poised for growth, with a clear strategy to expand its presence in the Klang Valley, Sabah, and Sarawak, while investing in technology to improve efficiency and the commuter experience. With a strong focus on sustainability, the company is committed to reducing carbon emissions and improving public transport efficiency.
FAQs
- What are Hi Mobility’s plans for expansion?
Hi Mobility plans to expand its presence in the Klang Valley and explore opportunities in Sabah and Sarawak. - What is the company’s focus on technology?
Hi Mobility is investing in artificial intelligence and digitalisation to enhance fleet management, scheduling, and customer service. - How will the Johor Bahru-Singapore Rapid Transit System Link (RTS Link) impact Hi Mobility’s cross-border bus operations?
The RTS Link will complement existing transport options, offering commuters more flexibility in their daily travel. - What is Hi Mobility’s approach to sustainability?
The company is committed to reducing carbon emissions and improving public transport efficiency through the electrification of its bus operations and investments in technology.