KUALA LUMPUR (Feb 3): Trading of KJTS Group Bhd’s (KL:KJTS) shares has been temporarily suspended from 12pm to 5pm on Monday, at the request of the company, pending an announcement on a “material transaction”.
The firm, which provides building support services comprising cooling energy, cleaning and facilities management, said in an exchange filing that Bursa Malaysia Securities has approved its request.
KJTS’ share price had more than tripled since its debut on the ACE Market in January last year. The counter has gained 248% from its initial public offering (IPO) price of 27 sen. KJTS was last traded at 94 sen at 11.49am on Monday, valuing the company at RM646.7 million. It touched a record high of 95.5 sen earlier.
The stock has been benefiting from investors’ frenzy over data centres, after it bagged a RM24 million subcontract from Sunway Engie DC Sdn Bhd for works on a data centre in Johor on Sept 23, 2024. The contract involves commissioning and maintenance of air-conditioning and mechanical ventilation pipework for the data centre.
KJTS' IPO raised some RM58.87 million from the sale of a 31.69% stake in the company to investors, with more than two-thirds of the proceeds earmarked for the expansion of its cooling energy segment in Malaysia.
For the third quarter ended Sept 30, 2024 (3QFY2024), KJTS’ net profit fell 46.34% to RM2.01 million from RM3.76 million in the same quarter last year, dragged by higher administrative expenses. Revenue, meanwhile, rose 11.79% to RM33.54 million from RM30.01 million, driven by the cooling energy and cleaning services segments.
For the cumulative first nine months ended Sept 30, 2024 (9MFY2024), the group’s net profit dropped 17.26% to RM4.91 million, from RM5.93 million in the same period last year. However, 9MFY2024 revenue was up 11.67% to RM98.72 million from RM88.40 million.
Group managing director Lee Kok Choon and group executive director Sheldon Wee Tah Poh are the group’s largest shareholders, each holding a 31.7% stake.