Tag: Jati Tinggi Group Berhad

Jati Tinggi Marks Successful Listing on ACE Market

  • Group Strives to Leverage on Strategic Growth Plans and New Project Opportunities Post-Listing

Jati Tinggi Group Berhad (Jati Tinggi or the Company), one of the players in the field of infrastructure utilities engineering, celebrated the Group’s debut today on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities). The shares opened at RM0.305 per share, which reflects a 13.0% premium over the IPO price of RM0.27 per share.

Caption (L-R):Mr. Lee Tuck Wai, Chief Financial Officer, Jati Tinggi Group Berhad
Dato’ Ir. Lim Yew Soon, Independent Non-Executive Director, Jati Tinggi Group Berhad
Ms. Poon Lai Kit, Independent Non-Executive Director, Jati Tinggi Group Berhad
Mr. Chin Jiunn Shyong, Executive Director/ COO, Jati Tinggi Group Berhad
Datuk Ir. Mohd Aminuddin Bin Mohd Amin, Independent Non-Executive Chairman, Jati Tinggi Group Berhad
Dato’ Seri Lim Yeong Seong, Managing Director, Jati Tinggi Group Berhad
Datuk Hamzah Bin Mohd Tahir, Executive Director of Dealing, TA Securities Holdings Berhad
Ms. Loo May Len, Independent Non-Executive Director, Jati Tinggi Group Berhad
Ms. Vivien Hooi, Vice President, Corporate Finance, TA Securities Holdings Berhad
Mr. Teo Swee Hing, Commercial Senior Manager, Jati Tinggi Group Berhad

Jati Tinggi is listed under the stock name “JTGROUP” with the stock code “0292”.

The Group’s core activities encompass a range of essential services, including procurement, installation, testing, and maintenance of underground and overhead utilities engineering services and solutions, substation EPCC services, and supply and installation of electrical equipment for electrical substations. With a focus on project planning and project management, Jati Tinggi has established the Group’s positioning as a pivotal player in the electricity supply industry in Malaysia.

Through the IPO, Jati Tinggi has successfully raised RM18.04 million. The allocation of these funds is as follows: RM7.00 million for the repayment of bank borrowings, RM7.34 million for general working capital earmarked for new and existing projects, RM0.20 million for purchasing winch machines to support business expansion, and RM3.50 million set aside for listing expenses.

Datuk Ir. Mohd Aminuddin Bin Mohd Amin, Independent Non-Executive Chairman of Jati Tinggi, expressed gratitude, “The journey to this listing has been a collaborative effort, driven by the hard work and dedication of our team. I extend my deepest appreciation to everyone involved in this journey.”

Head of Corporate Finance of TA Securities Holdings Berhad, Mr. Ku Mun Fong commented, “Jati Tinggi’s debut on the ACE Market marks a significant milestone in their corporate journey. With their business model and strategic expansion plans, Jati Tinggi is well positioned to seize emerging opportunities in the sector. We are thrilled to have been a part of this journey. We look forward to witnessing the Group’s future success and growth in the coming years capitalising on the opportunities available from the capital expenditure to be incurred by Tenaga Nasional Berhad pursuant to recent announcements.”

TA Securities Holdings Berhad served as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for the IPO.

Jati Tinggi Aims to Raise RM18.04 Million from ACE Market IPO

Jati Tinggi Group Berhad, one of the players in the field of infrastructure utilities engineering industry, today unveiled its prospectus in anticipation of its forthcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.

Jati Tinggi Aims to Raise RM18.04 Million from ACE Market IPO
Dato’ Ir. Lim Yew Soon, Independent Non-Executive Director of Jati Tinggi Group Berhad; Mr. Chin Jiunn Shyong, Executive Director/ COO of Jati Tinggi Group Berhad; Dato’ Seri Lim Yeong Seong, Managing Director of Jati Tinggi Group Berhad; Datuk Ir. Mohd Aminuddin Bin Mohd Amin, Independent Non-Executive Chairman of Jati Tinggi Group Berhad; Mr. Tah Heong Beng, Executive Director, Operations, TA Securities Holdings Berhad; Ms. Vivien Hooi, Vice President, Corporate Finance, TA Securities Holdings Berhad; Ms. Poon Lai Kit, Independent Non-Executive Director of Jati Tinggi Group Berhad; Ms. Loo May Len, Independent Non-Executive Director of Jati Tinggi Group Berhad[L-R]

The Group aims to raise RM18.04 million through the issuance of 66.80 million new shares priced at RM0.27 per share. The capital to be raised will be allocated to support the Group’s growth, enhance operational capacities and strengthen its financial position.

The usage of proceeds is outlined as follows:

• RM7.00 million to be directed towards the repayment of bank borrowings;
• RM7.34 million will be earmarked for general working capital purposes;
• RM0.20 million will be invested in capital expenditure, specifically in the procurement of winch machines; and
• RM3.50 million is allocated to cover the estimated expenses associated with the listing process.

Managing Director of Jati Tinggi, Dato’ Seri Lim Yeong Seong remarked, “At Jati Tinggi, we strive to achieve operational excellence and embrace sustainable practices. This IPO marks a key milestone; it reflects our dedication to excellence and for sustainability as well as growth. The funds to be raised will play a crucial role in enhancing our capabilities in supporting our future growth as our Group will have access to a larger pool of financial resources which would facilitate our Group’s efforts to secure and undertake more and/ or larger projects in the future.”

Head of Corporate Finance of TA Securities Holdings Berhad (“TA Securities”), Mr. Ku Mun Fong said, “Jati Tinggi’s performance over the last 3 full financial years showcases its foundation and strategic planning. This IPO is a significant step, set to expand Jati Tinggi’s reach, strengthen its position, and establish itself as a prominent player in the infrastructure utilities engineering industry.”

TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.