Furniture maker SWS Cap ventures into public transport

KUALA LUMPUR: Sofa and dining furniture maker SWS Capital Bhd has acquired a 60.15% stake in bus service operator The Kulim-Baling Road Transport Company Sdn Bhd (TKBRT) for RM4.2mil.

It told Bursa Malaysia that TKBRT had been involved in public transport services for more than 70 years.

The routes of its stage bus services are mainly between Baling, Kulim and Butterworth while its express bus services have routes throughout the country.

SWS Cap said it would pay for the share acquisition via internally generated funds.

The company did not provide any rationale for acquiring the public transport provider. There is also no information on the latter's financial performance or fleet size.

SWS Cap shares slid 2 sen to close at RM1.20 on Wednesday, with 20,000 shares traded.