New contract awarded (and coming in) - Priced in?
The stock price movement of PTRANS always baffled me, to say the least. Why?
1. A business with near-to-monopoly type of business environment (Operating bus station which would not work unless you obtained approval from government).
2. Growing business with government contracts coming in from time to time.
3. Huge upside potential(the bus operation is still an underserved market)
However, share price has been going down for months, even touching RM0.60 2 months back.
Interesting to see how would the share price unfold in the next 2-3 years.
New contract in Kelantan
The Board of Directors of Perak Transit Berhad (“PTRANS” or “Company”) wishes to announce that the Company has on 24 October 2024 received a letter of award/approval from Pejabat Setiausaha Kerajaan Negeri Kelantan in regards to the proposal for the implementation of the Terminal Kota Bharu (KB) Sentral development project (“Project”).
The state authority, through the 19th/2024 meeting of the government council held on 2 October 2024, has made the decision to agree to award/approve the construction of KB Sentral to PTRANS. PTRANS shall appoint China Communications Construction Company (CCCC) as the main contractor for the Project. Details of the further conditions will be communicated to PTRANS by the state authority in the near future.
This announcement is dated 24 October 2024.
The state authority, through the 19th/2024 meeting of the government council held on 2 October 2024, has made the decision to agree to award/approve the construction of KB Sentral to PTRANS. PTRANS shall appoint China Communications Construction Company (CCCC) as the main contractor for the Project. Details of the further conditions will be communicated to PTRANS by the state authority in the near future.
This announcement is dated 24 October 2024.
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