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