KUALA LUMPUR (Jan 28): Building support services company KJTS Group Bhd (KL:KJTS) fell to its lowest level in more than a year on Wednesday, triggering an automatic suspension of intraday short selling after the counter breached Bursa Malaysia’s price-decline threshold.

The suspension was activated after the stock’s last done price fell by more than 15% or 15 sen from its reference price, according to a Bursa announcement on Wednesday. Short selling for the counter will resume on Thursday (Jan 29) at 8.30am.

As at 3.40pm on Wednesday, KJTS slid 28.5 sen or 25.2% to 84.5 sen, a level last seen in December 2024. It was the fourth largest loser on Bursa Malaysia. 

The stock saw 7.13 million shares traded — more than seven times its four-week average volume of 971,963 shares.

KJTS was one of the top-performing ACE Market debutants of 2024, with its share price still up more than 212% since listing.

The rally has been supported by strong earnings momentum and sustained investor interest in companies linked to Malaysia’s expanding data centre ecosystem. KJTS, a beneficiary of Malaysia’s data centre build-up, specialises in providing cooling energy, cleaning, and facility management services.

The group is currently trading at a price-earnings ratio of 46.6 times, according to AskEdge, significantly higher than most sector peers and well above its initial public offering valuation of around 26 times.

KJTS made its ACE Market debut on Jan 26, 2024 at 27 sen per share.