=MARKET BUZZ: Malaysia Perak Transit At 1-Month High On Listing Transfer Speculation
KUALA LUMPUR (Oct 13) -- Perak Transit jumps 5.2% to MYR0.305, highest since September on speculation that company to soon announce listing transfer. "The company is in the midst of main market transfer from ACE market, which could be announced within two weeks," says remisier at local brokerage. Company's Chief Finance Officer John Loh told Nikkei Markets last month Perak Transit aims to transfer its listing to main board of Kuala Lumpur stock exchange by mid-2018. "Perak Transit's earnings are expected to pick up significantly in 2019 after completion of their new Terminal Kampar,” says analyst at local brokerage; adds, more institutional investors could be attracted to the company once it transfers listing to main board given its stable recurring income and high entry barrier to business.
- By Chong Sin Hao; Dave.Chong@nikkeinewsrise.com; +60320267363
- Edited By Abhrajit Gangopadhyay
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