Perak Transit Bhd, a Bursa Malaysia ACE Market listed company involved in bus terminal, bus services and petrol stations businesses, announced that the Company proposes to transfer the listing of and quotation for the entire issued share capital of Perak Transit and outstanding warrants 2017/2020 to the Main Market of Bursa.
In a filing with Bursa Malaysia, the Company say this marks another milestone for Perak Transit subsequent to its listing on the ACE Market of Bursa Securities on 6 October 2016. The Proposed Transfer signifies the growth and financial strength of Perak Transit as it has met the profit track record requirements for a transfer to the Main Market of Bursa Securities.
On the same day, Perak Transit has also announced its fourth quarter financial year ended 31 December 2017 (“4QFY2017”), where the Company registered a net profit of RM8.3 million, on the back of revenue RM25.2 million.
This represents an increase of around 7% to its bottom line as compared to the RM7.8 million profit registered in the corresponding quarter of the previous year.
Year to date (“FY2017”), the Company recorded a net profit of RM28.8 million, representing an increase of around 34% as compared to RM21.5 million a year ago. The Company’s revenue stood at RM106.8 million, around 18% higher than the RM90.2 million registered in the same period last year.