KUALA LUMPUR (April 7): KJTS Group Bhd (KL:KJTS), a building support services firm, has secured a chilled water plant improvement project worth approximately 372.56 million Thai baht (about RM48.33 million) over a 20-year period at the Centara Grand Beach Resort & Villas Hua Hin in Thailand.

The contract, awarded under a renovate, operate, and transfer (ROT) scheme, was granted to KJTS’ subsidiary in Thailand, KJTN Engineering Co, Ltd, by Central Hua Hin Beach Resort Co Ltd (CHBR), the operator of the five-star hotel.

This project marks the third collaboration between KJTN Engineering and CHBR, part of Thailand’s Central Group, a leading conglomerate with diverse investments in hospitality, retail, and property development, KJTS informed Bursa Malaysia on Monday.

The scope of the project includes retrofit works, operation and maintenance services (O&M), and chilled water supply.

KJTN Engineering will finance the retrofit works, amounting to 194.98 million Thai baht (approximately RM25.3 million) for Phase One, and 15.52 million Thai baht (approximately RM2.01 million) for Phase Two.

The company will charge a monthly fixed fee for the retrofit works of 1.47 million Thai baht (about RM190,521) upon completion of Phase One, and 1.56 million Thai baht (about RM202,599) after Phase Two. Additionally, a variable fee will be applied based on the chilled water supplied.

Phase One is expected to be completed by May 31, 2026, with Phase Two set to finish 24 months later. O&M services and chilled water supply will commence on June 1, 2026, and are expected to conclude by May 31, 2046.

At Monday’s noon break, shares of KJTS dropped 14 sen or 13.59% at 89 sen, giving it a market capitalisation of RM709.4 million. Year-to-date, the counter has risen over 5%.