Perak Transit launches share buy-back to unlock shareholder value

KUALA LUMPUR: Perak Transit Bhd has announced a share buy-back initiative, saying its current share price does not reflect the intrinsic value of its business and long-term growth prospects.

The integrated mobility and infrastructure solutions provider said the exercise forms part of its capital management strategy to enhance long-term shareholder value while demonstrating confidence in the group’s future prospects.

Perak Transit noted that its net assets per ordinary share stood at approximately 73 sen, compared with its current market price of about 17 sen per share, representing a discount of around 77% to its net assets.

Deputy executive director Jeffrey Cheong said the group is continuing its transformation into a multi-segment, asset-light growth company.

As part of this strategy, Perak Transit is repositioning its integrated public transportation terminals into “live commerce and lifestyle hubs” by combining transportation, commerce and modern work-life experiences to unlock greater commercial value.