KUALA LUMPUR: Perak Transit Bhd
is actively pursuing new third-party terminal management services to grow its asset-light business, as demonstrated by its collaborations to operate Terminal Sentral Kuantan in Pahang and Terminal Bas Shahab Perdana in Kedah.
“The provision of terminal management services along with the ongoing expansion of the group to develop, own and operate integrated public transportation terminals (IPTTs), will support the group’s further growth,” Perak Transit said in a filing with Bursa Malaysia.
As part of its proactive business transformation, Perak Transit has also entered into a deal with edotco Malaysia Sdn Bhd’s fellow subsidiaries to provide construction and engineering services for building telecommunication towers.
As at Oct 31, it has completed all eleven telecommunication towers.
“The group is actively seeking additional telecommunication tower construction projects to further contribute to the segment’s revenue. This new business segment aligns with the group’s strategy to pursue new opportunities, diversify its earnings base and reduce dependency on its existing business,” it added.
Additionally, as part of efforts to modernise its urban transportation services, the group is finalising the acquisition of electric buses and the provision of electric vehicle charging stations, in line with its green initiatives.
In the third quarter ended Sept 30, Perak Transit posted a higher net profit of RM17.7mil compared with RM16.6mil in the same quarter last year.
Its revenue rose 19.3% to RM52.1mil against RM43.6mil a year prior while earnings per share rose to 1.61 sen from 1.50 sen previously.
In the first nine months to Sept 30, it posted a net profit of RM53.01mil, up 11% from RM47.8mil while revenue expanded to RM143.9mil from RM132.6mil.
The group has declared a fourth interim dividend of RM0.005 per share, payable on Feb 17, 2025.
“The group is optimistic that its proactive business transformations and efforts to drive innovative leasing solutions will continue to drive growth in the near future,” Perak Transit said.
