PETALING JAYA: Perak Transit Bhd is on track to start the operation of its new 12-storey integrated public transportation terminal in Kampar, Perak, said managing director Datuk Seri Cheong Kong Fitt (pic).
He said the terminal is expected to be completed in this quarter with gross leasable area of around 400,000 sq ft.
“This is eight times bigger than Terminal AmanJaya’s gross leasable area,” he said.
At the moment, Terminal AmanJaya is the main revenue contributor to the group, having more than 40% contribution.
While the remaining came from petrol station and bus operations, which contributed about 32% and 25%, respectively.
Cheong said the group is currently in the midst of finalising the tenants at the Kampar terminal, which he expected to be in full operation in the first quarter of 2019.
“We are very optimistic for another year of profitable growth, mainly driven by the upcoming Integrated Public Transportation Terminal in Kampar as well as the revision of rental of advertising and promotion (A&P) in Terminal AmanJaya as we are transforming the physical A&P into a digital platform,” he said.
He said Kampar has huge growth potential because it has become a university town, after Universiti Tunku Abdul Rahman established its main campus there.
“Being a university town, student traffic will be high and we believe a terminal that combines both lifestyle and transportation activities will serve the market well,” he said.
For the second quarter ended June 30, Perak Transit posted a 34% jump in net profit to RM10.31mil compared with RM7.7mil previously. Revenue for the quarter rose 10.7% to RM31.25mil from RM28.22mil previously.
It was reported that Perak Transit had increased its rental of A&P spaces in Terminal AmanJaya by about 15% beginning early of this year.
Notably, Perak Transit is also in the midst of applying to transfer its Ace Market listing status to the Main Market.
The company submitted its application for the transfer to the Securities Commission in end-May.
“We are optimistic that once the company is transferred to the Main Market, it will accord greater recognition and acceptance among investors, including institutional funds.
“This will be another significant milestone for Perak Transit,” Cheong said.
On Budget 2019, Cheong said there would be positive spillover effect on the company’s plan to construct new terminals from the Public Transport Loan Fund.
On Friday, the government announced a RM500mil Public Transport Loan Fund with 2% interest subsidy via Bank Pembangunan Malaysia available to taxi and bus companies as well as other public transport operators.
Perak Transit had earlier announced its plan to build similar integrated public transportation terminals in Bidor and Tronoh, Perak.
Because everyone know revenue only able boost after Kampar terminal build up.. December terminal start operate bus & A&D income should show improvement next quarter , mall seem next qr only able open.. Everything on track. Remember news last year shown they able claim 8million goverment grants after terminal build , hopefully have one-off gain coming quarter. : )
They will push up the price soon bcoz 1st - when people want to adopt wait n see of new terminal contribution to the company growth, d price hike up first before coming next Feb 2019 q result anncemt, by then, it may go on buy on rumour sell on news. 2nd - price will push up before news moving to main board out as for higher price to prepare for more new potential funds to enter plus potentially to raise more fund by right issue or bank borrowing, if any.
● 9MFY18 net profit at RM26.9 million, as compared to RM20.4 million in 9MFY17 ● Increase mainly due to: i) Stronger revenue contribution from Perak Transit’s integrated public transportation terminal operations, ii) Revised upward of rental of A&P ● Future catalysts: i) new integrated public transportation terminal in Kampar, ii) transfer to the Main Market of Bursa Malaysia
Perak Transit Berhad (“Perak Transit” or “Company”) registered a record high profit after tax and minority interest (“PATAMI”) of RM26.9 million in the first nine months of financial year ended 30 June 2018 (“9MFY18”), as the Company’s bottom line surged by 32% as compared to RM20.4 million in the corresponding period last year. Perak Transit’s revenue also improved by 4% to RM85.0 million in the six-month period, as compared to RM81.5 million a year ago.
The Company’s stellar financial performance in 9MFY18 was primarily driven by stronger revenue contribution from Perak Transit’s integrated public transportation terminal operations, which to date contributes 38% of the Group’s revenue. Additionally, the revised upward of rental of Advertising and Promotion (“A&P”) contributed to the performance.
Perak Transit Group Managing Director Dato’ Sri Cheong Kong Fitt said: “We ended the nine months of FY18 with our best-ever quarter and going forward, we expect to see the strong momentum to continue. We are on track to achieve another record full-year net profit for the current FY18, after hitting an all time high of RM28.8 million PATAMI in FY2017.
“Our next catalysts are intact, which is the new integrated public transportation terminal in Kampar to be completed by 4 th quarter of 2018, as well as our plan to transfer to the Main Market of Bursa Securities.”
In the third quarter ended 30 September 2018 (“3QFY18”), Perak Transit posted a PATAMI of RM8.4 million, representing a 26% increase as compared to RM6.7 million in the preceding quarter. The Company’s revenue in 3QFY18 rose by 4.5% to RM27.7 million from RM26.5 million in the same period a year earlier.
“Perak Transit’s strong third quarter financial results coupled with continuously improving operational and customer service metrics highlight the underlying strength of the business as well as the Company’s positive momentum since the initial public offering in 2016.,” added Dato’ Sri Cheong.
At 5pm, the KLCI was up 6.11 points of 0.36% to 1,701.99. Turnover was 1.74 billion shares valued at RM1.41bil. There were 354 gainers, 452 losers and 383 counters unchanged.
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No ideas about the price going down. I'm looking for future. MD statement is correct, the first phase of Kampar terminal is take place. The first route under mybas is from medankit to kampar new terminal. Mean that FY2018, kampar terminal is start to contribute some income.
Understand from news, MD is mention the trf to main board is estimate by Nov18. But now is almost Dec. Hope SC manage to finalise it in the month of Dec.
BUY FOR LONG TERM INVESTMENT. PROFIT SURE TO GO UP. IT IS MATTER OF TIME. THE PRICE DROPS THESE FEW DAYS BECAUSE OF POOR MARKET SENTIMENT. DON'T WORRY TOO MUCH.
@issic66: you are very clear of company's developments and directions, should have confident in this company. The price will start to shot up when market sentiment return.
30/11/2018 23:42
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Posted by Shareshare1594 > 2018-11-07 12:21 | Report Abuse
0.3 more likely..haha