Perak Tran­sit ter­mi­nal on track

Kam­par trans­port hub ex­pected to boost firm’s rev­enue next year

The Star Malaysia - StarBiz - - News - By IN­TAN FARHANA ZAINUL in­tan­zainul@thes­

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 by year-end.

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.

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