KUALA LUMPUR (Oct 13): Jati Tinggi Group Bhd (KL:JTGROUP) said that there has been no material change to its operations or projects, after its share price plunged by almost a third in intraday trade before recovering at market close.
The electrical engineering firm acknowledges the weakness in its share price, which coincided with broader market volatility affecting technology, artificial intelligence (AI) and data centre-related companies.
“The market sentiment has been influenced by growing concerns surrounding global AI infrastructure investments and financing requirements,” Jati Tinggi said in a statement.
Jati Tinggi shares opened at RM1.40, unchanged from the previous day’s close, slipped to an intraday low of RM1.00 before paring some losses to close at RM1.30, giving the company a market capitalisation of RM575.8 million.
Jati Tinggi said it remains focused on its core power infrastructure engineering business, covering underground cable installation, overhead transmission lines, substations and related electrical works.
Rising electricity demand from data centres, industrial projects and renewable energy integration is expected to underpin the sector’s long‑term growth prospects.
The group also said it has an outstanding orderbook of RM1.1 billion and provides earnings visibility over the next three years.