PETALING JAYA: Perak Transit Bhd
has a new strategic equity partner after private equity or PE company Censuria, which is led by chairman Datuk Marco Yap, emerged in the company.
Yap said in a statement yesterday that despite recent market-driven volatility in Perak Transit’s share price, the company’s strong fundamentals and resilient operations still underpin the firm’s confidence in the stake purchase into Perak Transit.
He noted that Perak Transit’s close collaboration with the Perak state government positions the group to benefit from – and contribute to – the enhancement of public transport systems and supporting infrastructure.
Censuria had earlier also invested into property company NCT Alliance Bhd.
Perak Transit had last week saw its shares falling by almost half its value overnight, which had attracted an unusual market activity (UMA) query by market regulator Bursa Malaysia.
In its reply to the UMA, Perak Transit’s board said it was not aware of any possible explanation to account for the trading activity and the drastic drop in its share price.
“The board wishes to confirm that the company’s business operations remain operational as usual. The company continues to carry out its business and manage its operations in the ordinary course,” it said.
“While the company notes the sharp decline in its share price, the board emphasises that this movement in market value is not reflective of any change in the company’s operational status or business fundamentals at this time,” Perak Transit added.
Based on trading data, Perak Transit’s shares fell from 64 sen on Oct 21 to 34 sen on Oct 22.
Censuria said in its statement that Perak Transit had demonstrated robust operational performance even during the pandemic, maintaining profitability and consistent dividend payouts.
The group operates bus terminals and services across Perak, and manages express bus terminals in Perlis and Pahang – serving approximately 1.6 million bus passengers annually, it said.
Censuria said Perak Transit is a solid platform for nationwide expansion and diversification into new mobility-related business segments. It added it is currently engaging with the company on capital market initiatives, including a share buyback programme to enhance shareholder value and reinforce investor confidence.
