PETALING JAYA: Perak Transit Bhd
plans to grow its existing businesses and pursue new opportunities to increase plus diversify its revenue stream.
Executive director Datuk Cheong Peak Sooi said the group expects the construction of its third terminal, Bidor Sentral to be completed by end of 2023 and the maiden revenue contribution to start in 2024.
“We are expanding into new third-party terminal management services to grow this new asset-light business.
“We have also diversified our revenue stream to include telecommunication tower construction operation for our collaborative partner, edotco Malaysia,” he said in a statement.
The Ipoh-based transport terminal and bus operator reported a net profit of RM59.99mil for the financial year ended Dec 31, 2022 (FY22), up from RM53.20mil recorded in the previous year.
Revenue for FY22 increased to RM170.92mil from RM138.57mil a year ago.
Earnings per share came in at 8.86 sen versus 8.38 sen before.
The group said the higher revenue was mainly contributed by the strong revenue from the integrated public transportation terminal operations, bus operations and petrol station operations, supported by the strong increase in passenger footfall in the group’s terminals and higher transportation activities on the road.
It also announced a first interim dividend of 0.75 sen per share, payable on May 19, 2023.
For 4Q22, net profit stood at RM15.85mil on the back of a revenue of RM42.53mil.
