Incorporated in 1998 by the Ministry of Finance, the Government-owned Syarikat Prasarana Negara Berhad (Prasarana) was set up to facilitate, undertake and expedite public infrastructure projects. Prasarana and its group of companies are also asset-owners and operators of the Ampang and Kelana Jaya light rail transit (LRT) lines, KL Monorail, as well as bus operations in the Klang Valley, Penang and Kuantan.
Prasarana undertook a massive corporate restructuring exercise in early 2013, forming four new subsidiaries or strategic business units (SBUs), namely Rapid Rail Sdn Bhd, Rapid Bus Sdn Bhd, Prasarana Integrated Management & Engineering Services Sdn Bhd (PRIME), Prasarana Integrated Development Sdn Bhd (PRIDE). Under the new set up, the LRT and monorail are operated by Rapid Rail Sdn Bhd; bus services by Rapid Bus Sdn Bhd; management and engineering services by PRIME; and PRIDE is Prasarana’s link to the real estate sector, particularly in transit-oriented development.
RapidKL is the brandname for Prasarana services in Klang Valley. RapidKL operates the Ampang Line - from Sentul Timur to Ampang and Sri Petaling -  and the Kelana Jaya Line LRT from Kelana Jaya to Gombak. RapidKL buses operate in 167 routes covering 980 housing estates in the Klang Valley daily (as of end-2013). Prasarana formed RapidPenang in 2007 to cater for the public bus services need of the population there. RapidKuantan joined the stable in December 2012.