Perak Transit

[winston]

not vested

June 21, 2017

Affin Hwang Research maintains Buy for Perak Transit

KUALA LUMPUR: Affin Hwang Capital Research is maintaining its Buy call on transport operator Perak Transit with a higher target price (TP) of 40 sen, which is based on discounted cashflow (DCF), providing 33.1% upside. Its last traded price was 30 sen.

It said on Wednesday it changed its valuation methodology from a straight price-to-earnings (PE) to DCF, as it is a better way to capture the group’s mid to long term earnings prospects.

“We continue to like Perak Transit for its
(i) attractiveness as a monopoly business;
(ii) strong earnings growth from its existing core businesses; and
(iii) long-term potential from the upcoming terminal in Kampar.

Key risk includes a slowdown in construction of Kampar terminal,” it said.

Affin Hwang Capital Research recently visited Perak Transit’s construction site at Terminal Kampar, which is five minutes away from Universiti Tunku Abdul Rahman (UTAR) and Tenby International school.

It said the construction of Terminal Kampar is on track and it expects the terminal to start operations by 4Q18.

It also said Perak Transit intends to build an integrated lifestyle hub, which will have its own hotel and provide other facilities like badminton courts, gym, cinema, library and bowling alley, within the new 480,000 sf Kampar bus terminal.

“We visited the vicinity of Kampar, which has limited places for recreational purpose, for at least the c. 30,000 student population.

“We think the new integrated lifestyle hub will likely attract UTAR students and in turn attract more F&B and retail businesses,” it said.

Affin Hwang Research said with about 400,000 sf of commercial space available, rental income and adex revenue will be additional income drivers for the bus terminal.

Promotional events and advertisements have contributed significantly to the group’s revenue, but even more pronounced to its profitability.

“We are expecting Perak Transit’s revenue and core net profit in 2019E to grow by 24.2% and 51.0% on-year, when the new terminal is fully operational,” it said.

Source: The Star

https://www.thestar.com.my/business/bus ... k-transit/

[winston]

not vested

2Q Results

Revenue: +4%; RM 49m
EPS: +9%; RM 20m; 0.0176
Net Assets: Rm 0.71

https://www.bursamalaysia.com/market_in ... id=3582520

[winston]

not vested

Perak Transit Berhad - More Room to Grow
Date: 2025-08-22
Firm: TA
Price Target: 1.08
Price Call: BUY

Key Takeaways From Perak Transit’s 2Q25 Results Briefing:

KPS and TBS’s occupancy rates to rise further

ITA for TBS to kick in this year and Tronoh Sentral and Seri Iskandar Sentral’s construction progress on tract

No change to our FY25-27 earnings projections.

Target price is maintained at RM1.08. Maintain Buy.

Source: TA

https://klse.i3investor.com/web/priceta ... arch/76085

[winston]

vested

How Much Debt Does Perak Transit Berhad Carry?

Perak Transit Berhad had debt of RM745.5m, up from RM510.0m in one year. However, it also had RM266.5m in cash, and so its net debt is RM479.0m.

According to the last reported balance sheet, Perak Transit Berhad had liabilities of RM165.2m due within 12 months, and liabilities of RM721.4m due beyond 12 months.

Offsetting these obligations, it had cash of RM266.5m as well as receivables valued at RM38.4m due within 12 months.

So its liabilities outweigh the sum of its cash and (near-term) receivables by RM581.8m.

Given this deficit is actually higher than the company's market capitalization of RM402.7m, we think shareholders really should watch Perak Transit Berhad's debt levels.

Source: Simply Wall Street

https://simplywall.st/stocks/my/transpo ... uch-debt-1

[winston]

vested

Perak Transit to press ahead with RM360m Seri Iskandar and Tronoh terminal projects despite share rout

By David Tan

GEORGE TOWN (Oct 27): Perak Transit Bhd (KL:PTRANS) will continue its projects, including the RM360 million Seri Iskandar Sentral terminal and Terminal Tronoh Sentral, despite its shares losing more than half of their market value in recent days.

The 5.36-acre Seri Iskandar terminal, 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%.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/775526

[winston]

vested

Censuria takes strategic stake in Perak Transit

Private equity firm Censuria Capital, led by chairman Datuk Marco Yap, has acquired a strategic stake in Perak Transit Bhd, following its earlier investment in NCT Alliance Bhd.

Perak Transit’s close collaboration with the Perak state government positions it to both benefit from and contribute to the state’s public transport and infrastructure development.

Censuria is currently engaging with the company on capital market initiatives, including a share buyback program, to enhance shareholder value and reinforce investor confidence.

The group’s 15-year agreement to manage the Perlis bus terminal demonstrates its scalable, asset-light model.

Source: The Star

https://www.thestar.com.my/business/bus ... ak-transit

[winston]

not vested

Frankly Speaking: Illogical replies to unusual trades

In March, Cheong had a direct interest of 16.1% and an indirect interest of 7.3%. The indirect interest is held with his wife and children. In the latest filings with Bursa, Cheong’s direct interest is down to 6.5% and indirect interest is 4.7%.

As for his wife, her direct interest has hovered at the same level of 4.6% while her indirect interest has dropped to 6.6% from 18.5% in March this year.

Interestingly, Datuk Eddie Ong of Hextar Global Bhd (KL:HEXTAR), who held about 6.7% of Perak Transit shares in March, exited the company in April.

The drop in the value of the shares would have an impact on the other shareholders of Perak Transit, notably funds such as Pembangunan Sumber Manusia Bhd, which holds 4.9%, Kumpulan Wang Bersama Syariah (2.4%) and Koperasi Angkatan Tentera Malaysia Bhd (1.9%).

Source: The Edge Malaysia

https://theedgemalaysia.com/node/775453