GEORGE TOWN (Oct 27): Perak Transit Bhd (KL:PTRANS) will continue its projects, including the Seri Iskandar Sentral terminal and Terminal Tronoh Sentral, despite its shares losing more than half of their market value in recent days.
Group executive director Datuk Cheong Peak Sooi told The Edge the drop does not affect operations. “It is business as usual. The company has been paying quarterly dividends since 2021,” he said.
The RM360 million Seri Iskandar terminal, a 5.36-acre site near Hospital Seri Iskandar and around Universiti Teknologi Petronas (UTP) and Universiti Teknologi Mara (UiTM), will serve about 830,000 people. Cheong said construction has started, with completion expected in 2028.
Construction has also begun on Terminal Tronoh Sentral, a 16.64-acre site near UTP, UiTM, and other institutions. Cheong said it will include a petrol station, drive-thru, and shoplots for lease.
The projects are supported by a RM500 million sukuk murabahah bond programme which matures in 2033 and RM1.5 billion sukuk wakalah bond programme that matures in 2032.
The company has cash and bank balances of RM272.69 million and borrowings of about RM745.52 million.
Perak Transit owns three terminals in Ipoh, Kampar and Bidor, and manages third-party terminals in Kuantan and Perlis under long-term contracts, earning fees or rental income.
Cheong said the company plans to expand its integrated public transport terminal business, focusing on completing Seri Iskandar and Tronoh terminals and seeking more third-party management opportunities.
Financially, Perak Transit remains profitable, with a RM39.65 million net profit for the six months to June 30, 2025, and RM71 million for FY2024. The stock’s expected price-to-earnings ratio for the next 12 months is 4.93, and it pays a 5.15% dividend yield.
The stock was up 1.49% at 34 sen a share earlier, valuing the company at RM409.4 million. Year to date, the stock is down 54.97%.
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