Perak Transit, energetic point to jointly operate Kuantan Sentral Terminal

KUALA LUMPUR, Jan 14 -- Perak Transit Bhd’s wholly-owned subsidiary, Terminal Urus Sdn Bhd, is collaborating with Energetic Point Sdn Bhd (EPSB) to operate the Kuantan Sentral Terminal, an integrated public transportation terminal (IPTT) and hub serving the east coast of Peninsular Malaysia. 

In a statement today, Perak Transit said the concession, with a total investment cost of RM6.10 million, will see both companies managing the terminal as well as investments to upgrade works to enhance the service levels further.

The collaboration agreement will be effective from Feb 1, 2021 to Jan 31, 2030.

Terminal Urus and Energetic Point will bear the investment cost equally, which is RM3.05 million each. The portion of investment cost to be borne by Terminal Urus would be funded entirely through the group’s internally generated funds.

“Importantly, the collaboration to operate the Kuantan Sentral Terminal marks the group’s first venture into third-party terminal management services and the first operation of IPTT outside of Perak,” said Perak Transit.

The Kuantan Sentral Terminal has 18 platforms, five arrival bays and 10 holding bays, with 37 express bus operators. 

Terminal Urus’ participation in the collaboration is in line with the group’s business plans to develop and operate IPTT in other cities.

“Venturing into terminal management services involved minimal capital expenditure, with faster growth and recurring earnings.

“The expansion of the own IPTTs in other parts of Perak and other states in Malaysia continue to be a key element of growth while providing terminal management services will help the group to expand further,” said Perak Transit.

Prior to this, Perak Transit mainly focused on building, owning and operating only its own IPTTs, of which the Meru Raya Terminal is the group’s first own IPTT. 

-- BERNAMA