Perak Transit reports higher Q2 earnings

?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday

PETALING JAYA: Perak Transit Bhd posted a higher revenue and net profit in the second quarter ended June 30, boosted by increased contribution from its integrated public transportation terminal operations and petrol station business.

Net profit rose 31% to RM10.1mil compared with RM7.2mil made a year ago. Revenue improved 11% to RM31.2mil, the company told Bursa Malaysia in a filing on Monday.

Perak Transit operates the Terminal Amanjaya in Ipoh and petrol stations in several towns across Perak.

“The outlook of integrated public transportation terminal operations segment is expected to be favourable driven by the group’s plans for expansion in other part of Perak,” it said.

The company said the construction of Terminal Kampar had commenced and was expected to be completed by end of the year.

“The group intends to develop similar integrated public transportation terminal in Bidor and Tronoh,” it said.

The integrated public transportation terminal operations segment reported revenue of RM13.2mil in the second quarter on higher project facilitation fee and revised rental of advertising & promotion spaces.

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