PETALING JAYA: Perak Transit Bhd has posted a 6% jump in net profit to RM14.26mil for the first quarter (1Q) ended March 31 from RM13.41mil a year earlier, on the back of a 14.7% surge in revenue to RM40.66mil compared to RM35.45mil previously.

       In a filing with Bursa Malaysia yesterday, the bus terminal operator attributed the growth of its topline and bottomline to its integrated public transportation terminal (IPTT) operations, bus operations and petrol stations.

       The group has declared a second interim dividend of 0.75 sen per ordinary share, payable on Aug 22.

       Perak Transit is involved in the IPTT operations in Meru Raya and Kampar Putra Sentral in Perak and the provision of public bus services in Malaysia.

       In a separate statement, Perak Transit executive director Datuk Cheong Peak Sooi said that the 1Q performance reflected the group’s dynamic and forward-thinking business strategies, especially in leasing ideas to tap into the latest trends such as eCommerce that has grown substantially in volume as a result of movement restrictions during Covid-19.

       “We had successfully transformed some commercial areas in the IPTTs into logistics hubs in September 2021, allowing us to directly capitalise on the growing trend of eCommerce in the new normal.

       “We anticipate the group to continue reaping recurring benefits from our proactive business transformations,” he added.

       He expected the passenger footfall to continue to recover in the coming months, as travel restrictions have eased since last October.

       “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 in Perak is within the long-term expansion plan of the group.

       “Bidor is an important turn off from the North-South Expressway to reach the coastal districts of southern and central Perak, while Tronoh is a university town where Universiti Teknologi Petronas and Universiti Teknologi Mara are located,” Cheong said.

       Bidor Sentral is currently under construction and is expected to be completed by the second half of 2023.

       Perak Transit said it was also in the midst of expanding into new third-party terminal management services to grow this new asset-light business. “The collaboration to operate Terminal Sentral Kuantan and Terminal Bas Shahab Perdana in Pahang and Kedah respectively marked the group’s venture into third-party terminal management services and the operation of IPTTs outside of Perak,” it said.