Perak Transit gets RM8m grant for new terminal

PETALING JAYA: Perak Transit Bhd’s unit The Combined Bus Services Sdn Bhd has received an approval in principle from the Public-Private Partnership Unit of the Prime Minister’s Department, for a grant of up to RM8.01 million for the construction of Terminal Kampar.
The Perak-based bus service provider said in a Bursa Malaysia filing that it had received a letter dated Dec 21 from the government agency in which UKAS had approved in principle for the provision of the grant in the form of a facilitation fund to finance the infrastructure cost of the project.
“A facilitation fund agreement is to be executed between the Government of Malaysia, Bank Pembangunan Malaysia Bhd and The Combined Bus within three months from the date of the letter,” it said. The facilitation fund is to be payable by lump sum, reimbursable upon completion of the terminal.
It is expected to contribute positively to Perak Transit’s earnings and net tangible assets upon completion of the Terminal Kampar, expected in the fourth quarter of 2018.
Its shares were unchanged at 28 sen today with some 1.75 million shares done.