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Perak Transit Berhad

0186 · Main Market主板(Main Market) · annual reports 2023 to 2025, 757 entries read2023 至 2025 年报,共读出 757 条

Revenue, 20252025 年营业额RM196.2m1.96亿令吉up 5.1% from比 2024 年增加 5.1%,当年为 RM186.7m1.87亿令吉 in 2024
Profit for the financial year, 20252025 年财政年度盈利RM74.9m7.49千万令吉up 5.5% from比 2024 年增加 5.5%,当年为 RM71.0m7.10千万令吉 in 2024
Borrowings, 20252025 年借款RM1,414.5m14.14亿令吉up 80.2% from比 2024 年增加 80.2%,当年为 RM785.1m7.85亿令吉 in 2024
Cash and bank balances, 20252025 年现金与银行结余RM915.6m9.16亿令吉up 255.1% from比 2024 年增加 255.1%,当年为 RM257.8m2.58亿令吉 in 2024

The company这家公司

The group operates integrated public transportation terminals, public bus services, petrol stations in Ipoh, Lahat and Kuala Kangsar, and telecommunication tower construction. All of its activities and customers are based in Malaysia.该集团经营综合公共交通总站、公共巴士服务、位于怡保、喇叭(Lahat)与江沙的加油站,以及电讯塔建造业务。其所有业务与客户均位于马来西亚。

Sources (3)出处(3)
The Group is also involved in the management of Terminal Sentral Kuantan in Pahang and petrol station operations in Ipoh, Lahat and Kuala Kangsar in Perak, as well as the construction of telecommunication tower which commenced in 2022
Annual report 2024, page 132024 年年报,第 13 页
The Group is also involved in the management of Terminal Sentral Kuantan in Pahang and Terminal Perlis Sentral in Kangar, as well as petrol station operations in Ipoh, Lahat, and Kuala Kangsar in Perak.
Annual report 2025, page 152025 年年报,第 15 页
No geographical segment information is presented as the Group’s activities and customers are all based in Malaysia.
Annual report 2025, page 1892025 年年报,第 189 页

In 2025, IPTT operations contributed 69.8% of revenue (RM136.96 million), petrol station operations RM33.68 million, bus operations RM25.55 million, and telecommunication tower construction RM0.01 million. Within IPTT operations, rental income was RM61,917,015, revenue sharing income was RM57,785,676, and project facilitation fee was RM13,700,000.2025 年,综合公交通站业务占营业额的 69.8%(RM136.96 million),加油站业务为 RM33.68 million,巴士业务为 RM25.55 million,电讯塔建造业务为 RM0.01 million。在综合公交通站业务中,租金收入为 RM61,917,015,收入分成收入为 RM57,785,676,项目协调费为 RM13,700,000。

Sources (7)出处(7)
The IPTT operations recorded a revenue of RM136.96 million, which represents the largest contributor to the Group at 69.8% of the Group’s total revenue recorded in the FYE 2025.
Annual report 2025, page 172025 年年报,第 17 页
The Group’s revenue from bus operations segment increased 2.2% from RM25.00 million in the FYE 2024 to RM25.55 million in the FYE 2025 mainly attributable to higher contributions from the Stage Bus Service Transformation programme.
Annual report 2025, page 172025 年年报,第 17 页
The Group’s revenue from petrol station operations rose from RM33.23 million in the FYE 2024 to RM33.68 million in the FYE 2025.
Annual report 2025, page 172025 年年报,第 17 页
The revenue from the telecommunication tower construction operations decreased by 99.5% to RM0.01 million in the FYE 2025 compared to RM1.88 million in the FYE 2024 mainly due to the absence of new telecommunication tower construction projects secured during the year.
Annual report 2025, page 172025 年年报,第 17 页
Rental income 61,917,015 75,017,308
Annual report 2025, page 1592025 年年报,第 159 页
Revenue sharing income 57,785,676 18,600,287
Annual report 2025, page 1592025 年年报,第 159 页
Project facilitation fee 13,700,000 29,900,000
Annual report 2025, page 1592025 年年报,第 159 页

Three IPTT customers together contributed RM114,255,671 of revenue in 2025: Customer D contributed RM61,287,037, Customer C contributed RM31,317,215, and Customer E contributed RM21,651,419. At 31 December 2025, three customers constituted 83% of the group's trade receivables.2025 年,三家综合公交通站客户合共贡献了 RM114,255,671 营业额:客户 D 贡献 RM61,287,037,客户 C 贡献 RM31,317,215,客户 E 贡献 RM21,651,419。截至 2025 年 12 月 31 日,三家客户占集团贸易应收款项的 83%。

Sources (4)出处(4)
Customer C - Operation of IPTT 31,317,215 24,612,215
Annual report 2025, page 1892025 年年报,第 189 页
Customer D - Operation of IPTT 61,287,037 22,251,648
Annual report 2025, page 1892025 年年报,第 189 页
Customer E - Operation of IPTT 21,651,419 - 114,255,671 95,471,003
Annual report 2025, page 1892025 年年报,第 189 页
As at 31 December 2025, the Group has significant concentration of credit risk arising from the amounts owing from 3 customers (2024: 3 customers) constituting 83% (2024: 75%) of trade receivables of the Group.
Annual report 2025, page 1952025 年年报,第 195 页

Managing Director Dato’ Sri Cheong Kong Fitt holds 92,283,053 shares (7.589%) through nominee companies and an indirect interest of 55,178,497 shares (4.538%). Datin Sri Lim Sow Keng holds 55,118,248 shares (4.533%) and an indirect interest of 92,343,302 shares (7.594%). Executive Director Dato’ Cheong Peak Sooi is the brother of Dato’ Sri Cheong Kong Fitt and holds 8,788,397 shares (0.723%). Pledged securities accounts include 38,005,500 shares (3.126%) and 25,549,600 shares (2.101%) for Dato’ Sri Cheong Kong Fitt, and 34,953,750 shares (2.875%) for Tan Sri Dato’ Tan Chee Sing.董事经理 Dato’ Sri Cheong Kong Fitt 通过代名公司持有 92,283,053 股(7.589%),并拥有 55,178,497 股(4.538%)间接权益。Datin Sri Lim Sow Keng 持有 55,118,248 股(4.533%)以及 92,343,302 股(7.594%)间接权益。执行董事 Dato’ Cheong Peak Sooi 是 Dato’ Sri Cheong Kong Fitt 的兄弟,持有 8,788,397 股(0.723%)。抵押证券账户包括为 Dato’ Sri Cheong Kong Fitt 抵押的 38,005,500 股(3.126%)与 25,549,600 股(2.101%),以及为 Tan Sri Dato’ Tan Chee Sing 抵押的 34,953,750 股(2.875%)。

Sources (9)出处(9)
Dato’ Sri Cheong Kong Fitt is the brother of Dato’ Cheong Peak Sooi, an Executive Director of the Company.
Annual report 2025, page 82025 年年报,第 8 页
Dato’ Cheong Peak Sooi is the brother of Dato’ Sri Cheong Kong Fitt, the Managing Director and a major shareholder of the Company.
Annual report 2025, page 92025 年年报,第 9 页
1. Dato’ Sri Cheong Kong Fitt 92,283,053*1 7.589 55,178,497*2 4.538
Annual report 2025, page 2042025 年年报,第 204 页
3. Datin Sri Lim Sow Keng 55,118,248 4.533 92,343,302*2 7.594
Annual report 2025, page 2042025 年年报,第 204 页
*2 Deemed interested through his/her spouse, son and his/her interest held in a corporation by virtue of Section 8 of the Companies Act 2016.
Annual report 2025, page 2042025 年年报,第 204 页
2. Dato’ Cheong Peak Sooi 8,788,397*1 0.723 - -
Annual report 2025, page 2042025 年年报,第 204 页
3. Alliancegroup Nominees (Tempatan) Sdn Bhd 38,005,500 3.126 - Pledged Securities Account for Dato’ Sri Cheong Kong Fitt
Annual report 2025, page 2052025 年年报,第 205 页
4. MBSB Investment Nominees (Tempatan) Sdn Bhd 34,953,750 2.875 - Pledged Securites Account for Tan Sri Dato’ Tan Chee Sing
Annual report 2025, page 2052025 年年报,第 205 页
6. Amsec Nominees (Tempatan) Sdn Bhd 25,549,600 2.101 - Pledged Securities Account - Ambank (M) Berhad for Dato’ Sri Cheong Kong Fitt
Annual report 2025, page 2052025 年年报,第 205 页

The Chief Financial Officer was redesignated to Corporate Affairs Manager on 21 January 2026. External auditors Messrs Moore Stephens Associates PLT informed the company on 29 April 2026 that they were not seeking re-appointment at the forthcoming annual general meeting, and the company began searching for a replacement audit firm.首席财务官于 2026 年 1 月 21 日调任为企业事务经理。外聘审计师 Messrs Moore Stephens Associates PLT 于 2026 年 4 月 29 日通知公司不寻求在即将召开的股东周年大会上连任,公司已着手寻找接任的审计机构。

Sources (4)出处(4)
She was redesignated from Chief Financial Officer to Corporate Affairs Manager on 21 January 2026.
Annual report 2025, page 132025 年年报,第 13 页
Nevertheless, Moore have on 29 April 2026 expressed that they are not seeking re-appointment as the external auditors of the Company at the forthcoming AGM.
Annual report 2025, page 292025 年年报,第 29 页
The Audit Committee acknowledged Moore’s intention and the Company is in the process of identifying a suitable audit firm and will seek to appoint new auditors to fill the casual vacancy arising therefrom.
Annual report 2025, page 292025 年年报,第 29 页
Pursuant to Section 273(b) of the Companies Act 2016, Messrs Moore Stephens Associates PLT shall cease to hold office at the conclusion of the AGM.
Annual report 2025, page 2152025 年年报,第 215 页

Revenue by segment, 20252025 年各业务部门营业额

IPTT operations: 69.8%Petrol station operations: 17.2%Operation of public transportation: 13.0%Telecommunication tower construction: 0.0%
IPTT operations 69.8%综合公交通站运营 69.8%Petrol station operations 17.2%加油站运营 17.2%Operation of public transportation 13.0%公共交通运营 13.0%Telecommunication tower construction 0.0%电讯塔建造 0.0%
Sources (4)出处(4)
Operation of public transportation (i) 25,549,578 25,002,156 - -
Annual report 2025, page 1592025 年年报,第 159 页
IPTT operations (ii) 136,954,945 126,628,806 - -
Annual report 2025, page 1592025 年年报,第 159 页
Petrol station operations 33,679,490 33,232,139 - -
Annual report 2025, page 1592025 年年报,第 159 页
Telecommunication tower construction (iii) 9,549 1,883,291 - -
Annual report 2025, page 1592025 年年报,第 159 页

Major events大事记

2023Issued the third tranche of unrated Sukuk Murabahah of RM250 million on 31 March 2023.于 2023 年 3 月 31 日发行面值 RM250 million 的第三期未评级 Sukuk Murabahah。
Sources (2)出处(2)
Proceeds from Sukuk Murabahah 250,000,000 - 250,000,000 -
Annual report 2023, page 1002023 年年报,第 100 页
On 31 March 2023, the Company had issued the third tranche unrated Sukuk in nominal value totalling RM250 million.
Annual report 2023, page 1382023 年年报,第 138 页
2023Acquired 100% of Citipalms Sdn Bhd for RM320,000 in cash on 21 December 2023.于 2023 年 12 月 21 日以 RM320,000 现金收购 Citipalms Sdn Bhd 100% 股权。
Sources (1)出处(1)
(c) On 21 December 2023, the Company subscribed for 400,006 new ordinary shares in Citipalms, representing 100% equity interest in Citipalms for a total cash consideration of RM320,000.
Annual report 2023, page 1302023 年年报,第 130 页
2024Completed a 1-for-2 bonus issue of 371,078,520 shares and 62,564,765 additional warrants on 8 March 2024.于 2024 年 3 月 8 日完成每 2 股送 1 股红股,发行 371,078,520 股红股及 62,564,765 份额外凭单。
Sources (1)出处(1)
On 8 March 2024, the Company announced that the Proposed Bonus Issue has been completed, following the listing of and quotation for 371,078,520 Bonus Shares (inclusive of 5,199,999 Bonus Shares to be held as treasury shares) and 62,564,765 additional Warrants B
Annual report 2023, page 1562023 年年报,第 156 页
2024Obtained Certificate of Completion and Compliance for Bidor Sentral on 9 August 2024, and commenced operations on 26 September 2024.Bidor Sentral 于 2024 年 8 月 9 日取得完工与合规证书,并于 2024 年 9 月 26 日开始运营。
Sources (1)出处(1)
The Certificate of Completion and Compliance was obtained on 9 August 2024, and operations commenced on 26 September 2024.
Annual report 2024, page 182024 年年报,第 18 页
2024Established a Sukuk Wakalah programme of up to RM1.5 billion and issued the first tranche of RM300 million.设立上限为 RM1.5 billion 的 Sukuk Wakalah 计划,并发行了 RM300 million 的第一期 Sukuk。
Sources (3)出处(3)
Proceeds from Sukuk Wakalah 300,000,000 - 300,000,000 -
Annual report 2024, page 1132024 年年报,第 113 页
In the financial year ended 31 December 2024, the Company established a Sukuk Wakalah Programme with a total nominal value up to RM1.5 billion, which is structured based on the Shariah Principle of Wakalah Bi Al-Istithmar and has a tenure of fifteen (15) years
Annual report 2024, page 1532024 年年报,第 153 页
In the same financial year, the Company had issued the first tranche unrated Sukuk in nominal value totalling RM300 million.
Annual report 2024, page 1532024 年年报,第 153 页
2025Commenced management of Terminal Perlis Sentral on 24 March 2025, and on 9 May 2025 signed a memorandum of understanding with Majlis Perbandaran Kangar towards a 15-year service contract, subject to a definitive agreement.于 2025 年 3 月 24 日开始管理 Terminal Perlis Sentral,并于 2025 年 5 月 9 日与 Majlis Perbandaran Kangar 签署谅解备忘录,拟订立为期 15 年的服务合约,有待最终协议敲定。
Sources (3)出处(3)
On 9 May 2025, the Group entered into a Memorandum of Understanding with Majlis Perbandaran Kangar for the purpose of working together and cooperating in the concession to manage the bus terminal known as Terminal Perlis Sentral, located in Kangar, Perlis
Annual report 2025, page 192025 年年报,第 19 页
The Group commenced operations and management of Terminal Perlis Sentral on 24 March 2025, with the implementation of the PTMS.
Annual report 2025, page 192025 年年报,第 19 页
at a specified contract value and for a service contract period of fifteen (15) years, subject to the finalisation of a definitive agreement.
Annual report 2025, page 192025 年年报,第 19 页
2025Established a second Sukuk Wakalah programme of up to RM1.5 billion with perpetual tenure and issued RM700 million.设立上限为 RM1.5 billion 的第二期永续 Sukuk Wakalah 计划,并发行了 RM700 million。
Sources (3)出处(3)
Proceeds from Sukuk Wakalah 700,000,000 300,000,000 700,000,000 300,000,000
Annual report 2025, page 1442025 年年报,第 144 页
In the financial year ended 31 December 2025, the Company established a Sukuk Wakalah Programme with a total nominal value up to RM1.5 billion, which is structured based on the Shariah Principle of Wakalah Bi Al-Istithmar, with a perpetual tenure.
Annual report 2025, page 1832025 年年报,第 183 页
In the same financial year, the Company had issued the first tranche unrated Sukuk in nominal value totalling RM700 million, with a tenure of nine (9) years from the date of the first issuance of the Sukuk.
Annual report 2025, page 1832025 年年报,第 183 页
2026Fully redeemed both the Sukuk Murabahah and first Sukuk Wakalah facilities on 16 January 2026.于 2026 年 1 月 16 日全数赎回 Sukuk Murabahah 及第一期 Sukuk Wakalah 融通。
Sources (2)出处(2)
Subsequently on 16 January 2026, both Sukuk were fully redeemed.
Annual report 2025, page 1832025 年年报,第 183 页
Murabahah and Wakalah 1 facilities on 16 January 2026.
Annual report 2025, page 2032025 年年报,第 203 页

Revenue, profit and operating cash营业额、盈利与营运现金

Revenue营业额
2022
RM170.9m1.71亿令吉
2023
RM173.2m1.73亿令吉
2024
RM186.7m1.87亿令吉
2025
RM196.2m1.96亿令吉
Profit for the financial year财政年度盈利
2022
RM60.0m6.00千万令吉
2023
RM65.1m6.51千万令吉
2024
RM71.0m7.10千万令吉
2025
RM74.9m7.49千万令吉
Net cash from operating activities营运活动所得现金净额
2022
RM111.3m1.11亿令吉
2023
RM98.6m9.86千万令吉
2024
RM126.0m1.26亿令吉
2025
RM73.3m7.33千万令吉

Assets, borrowings and equity资产、借款与权益

Total assets总资产
2022
RM990.6m9.91亿令吉
2023
RM1,265.7m12.66亿令吉
2024
RM1,655.4m16.55亿令吉
2025
RM2,421.6m24.22亿令吉
Borrowings借款
2022
RM336.0m3.36亿令吉
2023
RM539.0m5.39亿令吉
2024
RM785.1m7.85亿令吉
2025
RM1,414.5m14.14亿令吉
Total equity总权益
2022
RM583.9m5.84亿令吉
2023
RM649.1m6.49亿令吉
2024
RM753.4m7.53亿令吉
2025
RM863.8m8.64亿令吉

20232023 年

In 2023, net cash from operating activities was RM98,581,662. Capital spending on property, plant and equipment took RM235,576,522, while investment property purchases took RM8,038,339. The company raised RM250,000,000 from a third tranche of Sukuk Murabahah and RM21,979,487 from warrant exercises. Outflows included RM36,000,000 of Sukuk repayments, RM8,016,819 of term loan repayments, RM3,000,000 of revolving credit prepayments, RM25,878,927 in finance costs paid, and RM21,705,785 in dividends paid to owners.2023 年,营运活动所得现金净额为 RM98,581,662。物业、厂房及设备资本支出耗费 RM235,576,522,购买投资产业耗费 RM8,038,339。公司发行第三期 Sukuk Murabahah 筹集 RM250,000,000,行使凭单筹集 RM21,979,487。现金流出包括偿还 Sukuk 的 RM36,000,000、偿还定期贷款的 RM8,016,819、预先偿还循环信贷的 RM3,000,000、支付财务费用 RM25,878,927,以及向股东派付股息 RM21,705,785。

Sources (9)出处(9)
Purchase of investment properties (8,038,339) (7,945,997) - -
Annual report 2023, page 992023 年年报,第 99 页
Purchase of property, plant and equipment (235,576,522) (182,035,086) - -
Annual report 2023, page 992023 年年报,第 99 页
- owners of the Company (21,705,785) (20,800,912) (21,705,785) (20,800,912)
Annual report 2023, page 1002023 年年报,第 100 页
Finance costs paid (25,878,927) (13,914,381) (4,172,656) (2,363,506)
Annual report 2023, page 1002023 年年报,第 100 页
exercise of warrants 21,979,487 3,161,283 21,979,487 3,161,283
Annual report 2023, page 1002023 年年报,第 100 页
(Prepayment of)/Proceeds from revolving credit (3,000,000) 40,000,000 (3,000,000) 40,000,000
Annual report 2023, page 1002023 年年报,第 100 页
Proceeds from Sukuk Murabahah 250,000,000 - 250,000,000 -
Annual report 2023, page 1002023 年年报,第 100 页
Repayment of Sukuk Murabahah (36,000,000) (33,000,000) (36,000,000) (33,000,000)
Annual report 2023, page 1002023 年年报,第 100 页
Repayment of term loans (8,016,819) (4,924,481) (8,016,819) (4,924,481)
Annual report 2023, page 1002023 年年报,第 100 页

20242024 年

In 2024, net cash from operating activities rose to RM126,018,884. Spending on property, plant and equipment was RM128,963,446. The group issued RM300,000,000 of Sukuk Wakalah under a new RM1.5 billion programme, and raised RM5,670,173 from warrant exercises. Outflows included Sukuk Murabahah repayments of RM44,500,000, term loan repayments of RM8,025,191, revolving credit repayments of RM580,000, finance costs paid of RM30,893,388, and dividends paid to owners of RM24,762,315.2024 年,营运活动所得现金净额升至 RM126,018,884。物业、厂房及设备支出为 RM128,963,446。集团在新的 RM1.5 billion 计划下发行了 RM300,000,000 的 Sukuk Wakalah,并通过行使凭单筹得 RM5,670,173。流出款项包括偿还 Sukuk Murabahah 的 RM44,500,000、偿还定期贷款 RM8,025,191、偿还循环信贷 RM580,000、支付财务费用 RM30,893,388,以及向股东派付股息 RM24,762,315。

Sources (9)出处(9)
Purchase of property, plant and equipment (128,963,446) (235,576,522) - -
Annual report 2024, page 1122024 年年报,第 112 页
- owners of the Company (24,762,315) (21,705,785) (24,762,315) (21,705,785)
Annual report 2024, page 1132024 年年报,第 113 页
Finance costs paid (30,893,388) (25,878,927) (3,897,471) (4,172,656)
Annual report 2024, page 1132024 年年报,第 113 页
Proceeds from issuance of shares pursuant to exercise of warrants 5,670,173 21,979,487 5,670,173 21,979,487
Annual report 2024, page 1132024 年年报,第 113 页
Prepayment of revolving credit (580,000) (3,000,000) (580,000) (3,000,000)
Annual report 2024, page 1132024 年年报,第 113 页
Proceeds from Sukuk Wakalah 300,000,000 - 300,000,000 -
Annual report 2024, page 1132024 年年报,第 113 页
Repayment of Sukuk Murabahah (44,500,000) (36,000,000) (44,500,000) (36,000,000)
Annual report 2024, page 1132024 年年报,第 113 页
Repayment of term loans (8,025,191) (8,016,819) (8,025,191) (8,016,819)
Annual report 2024, page 1132024 年年报,第 113 页
In the financial year ended 31 December 2024, the Company established a Sukuk Wakalah Programme with a total nominal value up to RM1.5 billion, which is structured based on the Shariah Principle of Wakalah Bi Al-Istithmar and has a tenure of fifteen (15) years
Annual report 2024, page 1532024 年年报,第 153 页

20252025 年

In 2025, net cash from operating activities fell to RM73,331,443 while trade and other receivables increased by RM52,313,687. Property, plant and equipment purchases used RM41,433,759. Financing brought RM625,404,528 net cash, led by RM700,000,000 from Sukuk Wakalah, RM41,960,432 from warrant exercises, RM25,000,000 from revolving credits, RM11,972,256 from selling treasury shares, and RM9,425,000 from term loans. Cash outflows included RM63,000,000 of Sukuk repayments, RM36,420,000 of revolving credit repayments, RM19,120,779 of term loan repayments, RM38,184,775 of finance costs paid, and RM19,907,123 in dividends paid to owners.2025 年,营运活动所得现金净额降至 RM73,331,443,贸易及其他应收款项增加了 RM52,313,687。购买物业、厂房及设备使用了 RM41,433,759。融资活动带来净现金 RM625,404,528,主要来自 Sukuk Wakalah 的 RM700,000,000、行使凭单的 RM41,960,432、循环信贷的 RM25,000,000、出售库存股的 RM11,972,256 以及定期贷款的 RM9,425,000。现金流出包括偿还 Sukuk 的 RM63,000,000、偿还循环信贷的 RM36,420,000、偿还定期贷款的 RM19,120,779、支付财务费用 RM38,184,775,以及向股东派发股息 RM19,907,123。

Sources (13)出处(13)
Trade and other receivables (52,313,687) (395,414) (1,970,663) -
Annual report 2025, page 1432025 年年报,第 143 页
Purchase of property, plant and equipment (41,433,759) (128,963,446) - -
Annual report 2025, page 1432025 年年报,第 143 页
- owners of the Company (19,907,123) (24,762,315) (19,907,123) (24,762,315)
Annual report 2025, page 1442025 年年报,第 144 页
Finance costs paid (38,184,775) (30,893,388) (3,958,271) (3,897,471)
Annual report 2025, page 1442025 年年报,第 144 页
exercise of warrants, net 41,960,432 5,670,173 41,960,432 5,670,173
Annual report 2025, page 1442025 年年报,第 144 页
Proceeds from sale of treasury shares 11,972,256 - 11,972,256 -
Annual report 2025, page 1442025 年年报,第 144 页
Proceeds from revolving credits 25,000,000 - 25,000,000 -
Annual report 2025, page 1442025 年年报,第 144 页
Proceeds from Sukuk Wakalah 700,000,000 300,000,000 700,000,000 300,000,000
Annual report 2025, page 1442025 年年报,第 144 页
Proceeds from term loans 9,425,000 - - -
Annual report 2025, page 1442025 年年报,第 144 页
Repayment of revolving credit (36,420,000) (580,000) (36,420,000) (580,000)
Annual report 2025, page 1442025 年年报,第 144 页
Repayment of Sukuk Murabahah (63,000,000) (44,500,000) (63,000,000) (44,500,000)
Annual report 2025, page 1442025 年年报,第 144 页
Repayment of term loans (19,120,779) (8,025,191) (19,033,509) (8,025,191)
Annual report 2025, page 1442025 年年报,第 144 页
Net cash from financing activities 625,404,528 190,696,260 653,654,540 214,437,622
Annual report 2025, page 1442025 年年报,第 144 页

Across the three years三年合看

Total borrowings expanded from RM335,970,637 at end 2022 to RM1,414,475,689 at end 2025, while cash and bank balances rose to RM915,567,090. Borrowing costs capitalised into property, plant and equipment totalled RM12,480,448 in 2023, RM17,288,517 in 2024, and RM23,936,990 in 2025. At 31 December 2025, borrowings due within one year were RM708,575,827. The group's FSCR of 0.90 times and post-dividend FSCR of 0.79 times fell below the required 1.25 times and 1.00 times under its existing Sukuk facilities, which were redeemed on 16 January 2026.总借款从 2022 年底的 RM335,970,637 扩大至 2025 年底的 RM1,414,475,689,同时现金与银行结余增至 RM915,567,090。资本化入物业、厂房及设备的借款成本在 2023 年为 RM12,480,448,2024 年为 RM17,288,517,2025 年为 RM23,936,990。截至 2025 年 12 月 31 日,一年内到期的借款为 RM708,575,827。集团的债务偿还偿债比率(FSCR)为 0.90 倍,派息后 FSCR 为 0.79 倍,低于原 Sukuk 融通所要求的 1.25 倍和 1.00 倍,该等 Sukuk 已于 2026 年 1 月 16 日全数赎回。

Sources (6)出处(6)
Capitalised borrowing costs 12,480,448 3,290,895 - -
Annual report 2023, page 1012023 年年报,第 101 页
Capitalised borrowing costs 17,288,517 12,480,448 - -
Annual report 2024, page 1142024 年年报,第 114 页
Capitalised borrowing costs 23,936,990 17,288,517 - -
Annual report 2025, page 1452025 年年报,第 145 页
- within one year 708,575,827 79,205,019 705,500,000 78,442,817
Annual report 2025, page 1822025 年年报,第 182 页
Subsequently on 16 January 2026, both Sukuk were fully redeemed.
Annual report 2025, page 1832025 年年报,第 183 页
As at 31 December 2025, the Group's FSCR of 0.90 times and post-dividend FSCR of 0.79 times were below the minimum requirement of 1.25 times and 1.00 times respectively under the Sukuk Murabahah and Wakalah 1 facilities
Annual report 2025, page 2032025 年年报,第 203 页

Still to be spent尚未支出的承诺

Capital commitments for property, plant and equipment were RM80,727,315 at end 2023, RM319,144,002 at end 2024, and RM269,939,475 at end 2025. Private placement proceeds of RM38.08 million were fully utilised by 31 December 2025, with the differences in actual costs of the terminal management services and urban transport electrification projects adjusted against the general working capital allocation.物业、厂房及设备的资本承诺在 2023 年底为 RM80,727,315,2024 年底为 RM319,144,002,2025 年底为 RM269,939,475。总额 RM38.08 million 的私下配售所得款项已于 2025 年 12 月 31 日前全数动用,总站管理服务项目与城市交通电气化项目的实际成本差额,均以一般营运资金的拨款作调整。

Sources (8)出处(8)
Property, plant and equipment 80,727,315 42,662,631
Annual report 2023, page 1432023 年年报,第 143 页
Property, plant and equipment 319,144,002 80,727,315
Annual report 2024, page 1582024 年年报,第 158 页
The gross proceeds generated from private placement amounted to RM38.08 million and the status of the utilisation of the proceeds as at 31 December 2025 are as follows:
Annual report 2025, page 322025 年年报,第 32 页
Terminal management services projects 6,750 3,050 3,700 54.81 Within 24 months
Annual report 2025, page 322025 年年报,第 32 页
Total 38,084 38,084 -
Annual report 2025, page 322025 年年报,第 32 页
The variation in the actual costs incurred for the urban transport electrification projects was adjusted against the amount allocated for the Group’s general working capital.
Annual report 2025, page 322025 年年报,第 32 页
Property, plant and equipment 269,939,475 319,144,002
Annual report 2025, page 1872025 年年报,第 187 页
The variation in the actual costs incurred for the terminal management services projects was adjusted against the amount allocated for the Group’s general working capital.
Annual report 2024, page 352024 年年报,第 35 页

Four years of figures四年数字

Group figures, in RM, as printed in the statements.集团数字,单位令吉,照财务报表所印。

Group集团2022202320242025
RM令吉RM令吉RM令吉RM令吉
Revenue营业额170,922,942173,165,302186,746,392196,193,562
Profit before tax税前盈利83,652,36581,226,83789,321,21598,908,225
Profit for the financial year财政年度盈利60,016,84065,109,95371,020,99874,935,221
Net cash from operating activities营运活动所得现金净额111,295,24498,581,662126,018,88473,331,443
Purchase of property, plant and equipment购买物业、厂房及设备(182,035,086)(235,576,522)(128,963,446)(41,433,759)
Dividends paid to owners已付本公司所有者股息(20,800,912)(21,705,785)(24,762,315)(19,907,123)
Total assets总资产990,593,6291,265,749,2231,655,364,5922,421,566,049
Borrowings借款335,970,637538,982,021785,103,6701,414,475,689
Cash and bank balances现金与银行结余32,507,44364,930,457257,810,680915,567,090
Total equity总权益583,909,773649,066,751753,366,494863,837,891

On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上,可看到它印在哪份年报的哪一页。

Said and done说过的与做到的

What the reports said年报说要做的What later reports show之后年报显示的Status状态
In-house PTRANS Terminal Management System to be implemented at other terminals managed by the group in the future (2023)自主研发的 PTRANS 总站管理系统(PTMS)未来将推行至集团管理的其他总站(2023)Implemented at Kampar Putra Sentral and Bidor Sentral by 2024, and at Terminal Perlis Sentral upon commencing management in March 2025.截至 2024 年已在 Kampar Putra Sentral 与 Bidor Sentral 实施,并于 2025 年 3 月接管 Terminal Perlis Sentral 时投入使用。
Sources (3)出处(3)
This new management system will be implemented in other terminals managed by the Group in the future.
Annual report 2023, page 172023 年年报,第 17 页
Additionally, the in-house PTRANS Terminal Management System was implemented at Kampar Putra Sentral and Bidor Sentral.
Annual report 2024, page 452024 年年报,第 45 页
The Group commenced operations and management of Terminal Perlis Sentral on 24 March 2025, with the implementation of the PTMS.
Annual report 2025, page 192025 年年报,第 19 页
Carried out已执行
Finalising the acquisition of electric buses and provision of electric vehicle charging stations (2023)敲定电动巴士收购及提供电动汽车充电站(2023)Still in the process of finalising the acquisition of electric buses as pilot projects in the 2024 and 2025 reports.在 2024 年和 2025 年报中仍处于敲定电动巴士试点项目收购的推进阶段。
Sources (3)出处(3)
the Group is also finalising the acquisition of electrical buses and provision of electric vehicle charging stations which is in line with the Group’s green initiatives.
Annual report 2023, page 172023 年年报,第 17 页
The Group is in the process of finalising the acquisition of electric buses as pilot projects to add to our portfolio.
Annual report 2024, page 532024 年年报,第 53 页
The Group is in the process of finalising the acquisition of electric buses as pilot projects to expand our portfolio.
Annual report 2025, page 542025 年年报,第 54 页
Still in progress仍在推进
Orderbook of four telecommunication towers expected to contribute to revenue (2023)待建的 4 座电讯塔订单预计将为业务贡献收入(2023)All 11 telecommunication towers were completed by 2024, with no new projects secured in 2025.截至 2024 年全部 11 座电讯塔均已完工,2025 年未取得新项目。
Sources (4)出处(4)
As at 31st January 2024, the Group has completed five (5) telco towers and has an existing orderbook of four (4) telco towers, and this is expected to contribute to the segment’s revenue in the following quarters.
Annual report 2023, page 172023 年年报,第 17 页
As of the current year, the Group has completed all eleven (11) telecommunication towers.
Annual report 2024, page 182024 年年报,第 18 页
As of today, the Group has completed all eleven (11) telecommunication towers.
Annual report 2025, page 192025 年年报,第 19 页
The revenue from the telecommunication tower construction operations decreased by 99.5% to RM0.01 million in the FYE 2025 compared to RM1.88 million in the FYE 2024 mainly due to the absence of new telecommunication tower construction projects secured during the year.
Annual report 2025, page 172025 年年报,第 17 页
Completed已完成
Targeted a 30% increase in passengers facilitated from the 2022 baseline by 2023 (2023)目标在 2023 年前将服务的乘客人数较 2022 年基准提高 30%(2023)Passengers increased by 7.2% in 2023; target was extended to 2030, and reached a 26.5% increase in 2025 with 1,905,456 passengers.2023 年乘客人数较基准增长 7.2%;目标随后延长至 2030 年,2025 年达到 1,905,456 人次,较 2022 年增长 26.5%。
Sources (4)出处(4)
Increase number of passengers facilitated by 30% from the 2022 baseline by 2023
Annual report 2023, page 362023 年年报,第 36 页
Number of passengers facilitated increased by 7.2% in FYE 2023 compared to baseline
Annual report 2023, page 362023 年年报,第 36 页
Increase number of passengers facilitated by 30% from the 2022 baseline by 2030 Number of passengers facilitated increased by 5.1% in FYE 2024 compared to the baseline
Annual report 2024, page 432024 年年报,第 43 页
In FYE 2025, the Group facilitated 1,905,456 passengers through its bus operations, representing a 26.5% increase from FYE 2022 (FYE 2022: 1,506,272) and a 20.4% increase from FYE 2024 (FYE 2024: 1,583,095).
Annual report 2025, page 902025 年年报,第 90 页
Not met by 2023; target date moved to 20302023 年未达标;目标期限改为 2030 年
Plans to install solar photovoltaic systems at upcoming terminal Bidor Sentral, workshop and headquarters (2023)计划在即将建成的 Bidor Sentral 总站、车间和总部安装太阳能光伏系统(2023)Remained planned for Bidor Sentral, the workshop and the headquarters in the 2024 and 2025 reports.在 2024 年和 2025 年年报中仍列为计划在 Bidor Sentral、车间及总部安装。
Sources (3)出处(3)
The Group plans to install solar photovoltaic systems in our upcoming terminal Bidor Sentral, workshop and headquarters as well.
Annual report 2023, page 442023 年年报,第 44 页
The Group also plans to install solar photovoltaic systems at Bidor Sentral, the workshop and the headquarters.
Annual report 2024, page 522024 年年报,第 52 页
In addition, the Group plans to install solar photovoltaic systems at Bidor Sentral, the workshop, and the headquarters.
Annual report 2025, page 602025 年年报,第 60 页
Still planned仍在计划中

What the reports leave open年报留下待看的事

  • Appointment of new external auditors following Moore Stephens Associates PLT's decision on 29 April 2026 not to seek re-appointment at the forthcoming AGM.在 Moore Stephens Associates PLT 于 2026 年 4 月 29 日决定不在即将召开的股东周年大会上寻求连任后,新外聘审计师的委任进展。
    Sources (2)出处(2)
    Nevertheless, Moore have on 29 April 2026 expressed that they are not seeking re-appointment as the external auditors of the Company at the forthcoming AGM.
    Annual report 2025, page 292025 年年报,第 29 页
    The Audit Committee acknowledged Moore’s intention and the Company is in the process of identifying a suitable audit firm and will seek to appoint new auditors to fill the casual vacancy arising therefrom.
    Annual report 2025, page 292025 年年报,第 29 页
  • Recovery of trade receivables, which stood at RM73,304,262 at end 2025, where three customers accounted for 83% of balances and a substantial portion was past due.贸易应收款项的回收情况。截至 2025 年底应收款为 RM73,304,262,其中三家客户占总额的 83%,且相当部分款项已逾期。
    Sources (4)出处(4)
    As at 31 December 2025, the Group’s trade receivables amounted to RM73.3 million, representing 3.0% of the Group’s total current assets.
    Annual report 2025, page 1352025 年年报,第 135 页
    A substantial portion of these balances has past due which increases the risk of non-recoverability.
    Annual report 2025, page 1352025 年年报,第 135 页
    At 1 January/31 December (311,230) (311,230) - - 73,304,262 26,765,198 - -
    Annual report 2025, page 1772025 年年报,第 177 页
    As at 31 December 2025, the Group has significant concentration of credit risk arising from the amounts owing from 3 customers (2024: 3 customers) constituting 83% (2024: 75%) of trade receivables of the Group.
    Annual report 2025, page 1952025 年年报,第 195 页
  • Progress on constructing Tronoh Sentral and Seri Iskandar Sentral, with capital commitments for property, plant and equipment of RM269,939,475 at end 2025.Tronoh Sentral 与 Seri Iskandar Sentral 的建造进展,截至 2025 年底物业、厂房及设备资本承诺为 RM269,939,475。
    Sources (4)出处(4)
    These additions were primarily related to enhancement works carried out at existing terminals of RM23.96 million, construction in-progress of new terminals of RM58.17 million (included in capital work-in-progress), as well as acquisition of new commercial vehicles of RM14.25 million.
    Annual report 2025, page 1342025 年年报,第 134 页
    Property, plant and equipment 269,939,475 319,144,002
    Annual report 2025, page 1872025 年年报,第 187 页
    Constructing an integrated public transportation terminal (Tronoh Sentral) Leasehold for 99 years, expiring in 2115
    Annual report 2025, page 2092025 年年报,第 209 页
    Constructing an integrated public transportation terminal (Seri Iskandar Sentral) Leasehold for 99 years, expiring in 2122
    Annual report 2025, page 2112025 年年报,第 211 页
  • Execution of the Smart Bus Stop Project and EV charging hub under the MOA signed with CAPE EMS Berhad, and deployment of 30 Euro 5 buses under the RM17.1 million green project.与 CAPE EMS Berhad 签署备忘录下的智能巴士站项目与电动车充电枢纽落地情况,以及在 RM17.1 million 绿色项目中部署 30 辆 Euro 5 巴士的进展。
    Sources (3)出处(3)
    To further advance its green infrastructure, renewable energy and electric mobility agenda, the Group announced on 3 October 2025 that it has entered into a Memorandum of Agreement (“MOA”) with CAPE EMS Berhad.
    Annual report 2025, page 192025 年年报,第 19 页
    Under the MOA, the Group will lead the implementation of the Smart Bus Stop Project and Ipoh’s first EV charging hub.
    Annual report 2025, page 192025 年年报,第 19 页
    Additionally, the Group has received the Green Project Certificate under the Green Technology Financing Scheme (GTFS) for its RM17.1 million project involving the procurement of 30 King Long City Buses (Euro 5), which meet the eligibility criteria for Energy Efficient Vehicles.
    Annual report 2025, page 192025 年年报,第 19 页

Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-17.内容为公司年报所印的事实,并注明页码;不评级,不构成投资建议。生成日期 2026-10-17。