PETALING JAYA: Perak Transit Bhd has received a letter from Majlis Daerah Tanjong Malim to manage the Tanjong Malim bus terminal at a specified monthly rental payment for a period of 30 years.
In a filing with Bursa Malaysia, Perak Transit said the collaboration is in line with the group's business plans to develop and operate integrated public transportation terminals in Malaysia.
“It also aligns with the group's overall corporate strategy to capture opportunities for securing new terminal management contracts from third-party terminals.
“This supports the growth of the group's asset-light business model by leveraging its valuable experience and expertise in the setup, management and operation of bus terminals.”
Perak Transit executive director Datuk Cheong Peak Sooi said the Tanjong Malim bus terminal is a double-storey building with a land area of approximately 1.20 acres, a gross built-up area of approximately 18,522 sq ft, and a net leasable area of approximately 8,279 sq ft for shops and kiosks.
“The final definitive agreement relating to the collaboration will be finalised and signed in the near term,” said the company.