KUALA LUMPUR (August 6): Perak Transit Bhd (KL:PTRANS) on Thursday unveiled a share buy-back scheme, saying that investors undervalue the bus-and-terminal operator.

The initiative is expected to complement the dividend policy, Perak Transit said in a statement. The last price of 17 sen represents a sharp 77% discount to Perak Transit’s net asset value of about 73 sen per share, the company noted.

“The current share price does not fully reflect the strength of its underlying business, its resilient core transit operations, or the long-term value expected to be created through its ongoing strategic transformation,” Perak Transit said.

The size of the share buyback was not disclosed. The company's last share buyback was in 2025.

The initiative comes as the company transforms into a multi-segment, asset-light company. Perak Transit operates Terminal Meru Raya, Kampar Putra Sentral and Bidor Sentral — which are being repositioned as "live commerce and lifestyle hubs."

Perak Transit is also expanding into the wholesale, trading, retail and e-commerce of fast-moving consumer goods to diversify and strengthen recurring revenue streams.

The company remains well-placed to tap “new growth opportunities and deliver sustainable, multi-segment expansion,” the company said, adding that the share buy-back initiative reflects confidence in its long-term prospects.

A resolution for a proposed share buyback was approved by shareholders in June, allowing the company to purchase and hold up to 10% of the total number of issued shares.