Perak Transit Berhad posted made some sound decisions during the lockdown when the terminal management firm leased out its spaces for logistics and warehousing. Reporting on its quarterly figures, the company made a total revenue of RM35.2 million and a profit before tax of RM18.4 million for 3Q 2021, which was an increase of 0.8% and 2.0% in comparison to the preceding quarter’s where revenue stood at RM34.9 million and PBT of RM18.0 million. The company attributes the increase coming from leasing some commercial areas in the terminals to logistic and warehousing and distribution tenants in the current quarter.
Compared to last year the group’s total revenue and PBT were higher in comparison to total revenue of RM35.0 million and a PBT of RM15.9 million this is an increase of 0.6% and 15.8%. Other contributors to the revenue increase include a stable operation from the matured Terminal Meru Raya and the return of stage buses.
“Our business remained extremely resilient amidst the Covid-19 pandemic and FMCO has given the stability in our core businesses. In addition, we have been very diligent in the implementation of new business strategies to position ourselves for sustainable long-term growth. We remain steadfast in securing more terminal management contracts, which has a much faster monetisation period of between 3 to 6 months, in comparison to newly built terminals which takes approximately 2 years and can be executed with much lower upfront investment cost and with earnings that are recurring and visible. remarked PTRANS’ Executive Director, Dato’ Cheong Peak Sooi.
In line with the Group’s business objective to develop, own and operate IPTTs in underserved locations, the development of Bidor Sentral and Terminal Tronoh, Perak is within the long-term expansion plan of the Group, with the construction of Bidor Sentral has already been commenced. Bidor serves as an important turn-off from the North-South Expressway to reach the coastal districts of southern and central Perak.
Moving forward, the group will continue to prioritise sustainability measures to ensure PTRANS continues to meet the elevating expectations of ESG.
