KJTS Shares Rise On Thailand Contract Wins

KUALA LUMPUR, Sept 3 (Bernama) -- KJTS Group Bhd’s shares rose in early trade today after its Thailand unit secured four new long-term contracts.

At 10.12 am, KJTS shares rose four sen to RM1.13, with 668,400 shares traded.

In a note today, Kenanga Investment Bank Bhd said KJTS’ Thailand subsidiary, KJTN Engineering Company Ltd, had entered into four 20-year agreements with subsidiaries of Central Plaza Hotel Public Company Ltd.

The agreements cover retrofit works, operations and maintenance services, and chilled-water supply at four hotels in Thailand.

Kenanga said the projects involve about RM11 million in retrofit investments, while recurring O&M and chilled-water supply services are expected to commence in March 2027.

The research house said the agreements carry total fixed fees of about RM48 million over 20 years, equivalent to RM2.4 million annually, excluding variable chilled-water fees.

Following the contract wins, Kenanga raised its financial year 2026 (FY2026) and FY2027 earnings forecasts for KJTS by two per cent and five per cent, respectively.

The research house maintained its “outperform” call on KJTS and raised its target price to RM1.60 from RM1.57.

-- BERNAMA