PETALING JAYA: Perak Transit Bhd is actively securing more third-party terminal management contracts, which have a faster monetisation period of between three and six months.

       Newly-built terminals would normally take about two years before they become profitable, according to the company.

       On its growth strategies, Perak Transit said in a filing with Bursa Malaysia, that they included earnings recognition from the new terminal (Bidor Sentral), increase in Kampar Putra Sentral’s occupancy rate and additional third party terminal management contracts.

       “Bidor serves as an important turn off from the North South Expressway to reach the coastal districts of southern and central Perak. The development of Bidor Sentral, together with Terminal Tronoh, Perak are in line with the group’s long-term expansion plan,” said group executive director Datuk Cheong Peak Sooi.

       Also, the group is planning to transform some commercial area in the integrated public transportation terminals (IPTTs) into logistics hubs, to participate in the growing e-commerce trend.

       Perak Transit Bhd’s net profit rose 67% year-on-year to RM13.5mil for its second quarter ended June 30, 2021 (Q2FY21), while revenue jumped 80% to RM34.95mil.

       The higher revenue from its IPTT operations was mainly due to the leasing of advertising and promotional spaces at Kampar Putra Sentral (which started in September 2020) and higher recognition of project facilitation fees.

       For the first half under review, its net profit rose 61% year-on-year to RM26.86mil while revenue rose 43.3% to RM70.4mil.

       Perak Transit declared a third interim single tier dividend of 0.8 sen per share compared with 0.5 sen a share a year earlier, with the ex date on Oct 29 and payment date on Nov 18, 2021.