KJTS Group Berhad Archives

KJTS Appointed by CENTARA Thailand for Retrofit Works and Cooling Energy Management Services

15-Year Agreement Carved to Enhance Sustainable Hospitality Experience

KJTS Group Berhad (KJTS or the Group), a building support services provider in Malaysia, Thailand and Singapore, is pleased to announce that the Group’s subsidiary, KJTN Engineering Co., Ltd. (KJTN Engineering) has signed an Agreement with Central World Hotel Company Limited (CENTARA) for the works of retrofit, the provision of management, supervision, personnel, materials, equipment and supplies necessary to operate and maintain the chiller plant (O&M services) and the chilled water supply at Centara Grand Hotel at Central World in Bangkok, Thailand for a 15-years period.

Mr. Kitti Chungsawanant, Director of KJTN Engineering

CENTARA, a Thailand’s hospitality business entity and has been operational for over 19 years, is a part of the esteemed Central Group, one of Thailand’s largest private commercial conglomerates with more than 50 subsidiaries with diverse investments in various corporations domestically and internationally. Central Group’s business sectors include retail, property development, brand management, hospitality, food and beverage sectors, and digital lifestyle. This partnership underscores KJTN Engineering’s expertise and commitment to delivering innovative and eco-friendly solutions in the building support services industry.

Under the terms of the Agreement, KJTN Engineering shall finance the retrofit works and during the O&M services period charge a fixed fee of THB698,147 monthly which is equivalent to approximately RM93,155 and a variable fee monthly based on the chilled water supplied. The total fixed fee for 15 years will be THB125,666,460 which is equivalent to approximately RM16,767,927.

The retrofit works are expected to commence on 1st February 2024 and to be completed on 30th November 2024. The O&M services and chilled water supply will commence on 1st December 2024 and be completed on 30th November 2039. The ownership interest in the chiller plant will be transferred to the CENTARA at the end of the Agreement.

Director of KJTN Engineering Co., Ltd., Mr. Kitti Chungsawanant said, “This agreement with CENTARA symbolises our commitment to expand our business in Thailand as one of KJTS group’s core regional markets. It also marks the start of an important business relationship for the KJTS group with the Central Group and we are hopeful that KJTS group will be able to provide more building support services to the Central Group in the future.”

This venture is poised to bolster KJTS’s position in the market, reflecting the strategic focus on expanding the Group’s services and influence across Malaysia, Thailand and Singapore.

KJTS Celebrates Successful Debut on ACE Market

Company to Embark on Strategic Growth and Market Expansion Post-Listing

KJTS Group Berhad (KJTS or the Company), a building support services provider in Malaysia, Thailand and Singapore, proudly marked the Company’s debut today on the ACE Market of Bursa Malaysia Securities Berhad. The shares opened at RM0.44 per share, showcasing a significant 62.96% premium over the IPO price of RM0.27 per share.

Ms. Elaine Law Soh Ying, Independent Non-Executive Director, KJTS Group Berhad; Dr. Teoh Pek Loo, Independent Non-Executive Director, KJTS Group Berhad; Ms. Azura Binti Azman, Independent Non-Executive Chairman, KJTS Group Berhad; Mr. Sheldon Wee, Executive Director, KJTS Group Berhad; Mr. Lee Kok Choon, Managing Director, KJTS Group Berhad; Ms. Lee Jim Leng, Group Managing Director and Chief Executive Officer, Hong Leong Investment Bank Berhad; Mr. Ng Kok Ken, Independent Non-Executive Director, KJTS Group Berhad [L-R]

KJTS is listed under the stock name “KJTS” with the stock code “0293”.

Specialising in cooling energy management, cleaning, and facilities management services, KJTS and its subsidiaries (“KJTS Group”) is an established player in the building support services industry. The Company’s in-house engineering capabilities and commitment to sustainability have been instrumental in delivering high-quality services and contributing to clients’ environment, social and governance (“ESG”) targets, including reducing carbon dioxide emissions.

The successful initial public offering of KJTS Group Berhad raised RM58.87 million, allocated as follows: RM44.92 million towards the expansion of the cooling energy segment and office expansion in Malaysia, Thailand, and Singapore; RM8.12 million for working capital; and RM5.83 million set aside for listing expenses.

Independent Non-Executive Chairman of KJTS Group Berhad, Puan Azura Binti Azman expressed excitement: “This successful listing marks a new chapter for KJTS. It is a reflection of the hard work and dedication of our team and the confidence the market has in our vision and strategy. We are excited about the opportunities this will bring, allowing us to further expand and enhance our services in Malaysia, Singapore and Thailand.”

“The positive investor response to our IPO underscores the market’s belief in our capabilities and growth potential. We look forward to utilising this momentum to drive KJTS’s growth and to solidify our position in the building support services sector.”

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner.

KJTS Group Berhad’s Public Portion of IPO Oversubscribed by 31.28 Times

KJTS Group Berhad (KJTS or the Company), and its subsidiaries (collectively referred to as the KJTS Group), a building support services provider in Malaysia, Thailand and Singapore, announces that the Company’s initial public offering (IPO) for the Malaysian public has been oversubscribed by 31.28 times.

Managing Director of KJTS, Mr. Lee Kok Choon

KJTS’s IPO comprises the offering of 218,027,200 new ordinary shares in the Company (IPO Shares) in the following manner :
– Institutional offering of 168,627,200 IPO Shares to institutional and selected investors; and
– Retail offering of 49,400,000 IPO Shares to the Malaysian public, the eligible directors, eligible key senior management, eligible employees, and persons who have contributed to the success of the KJTS Group (“Eligible Persons”).

The Company received a total of 9,632 applications for 1,110,308,600 IPO Shares worth RM299.78 million from the Malaysian public, representing an oversubscription rate of 31.28 times. The Bumiputera portion saw 5,803 applications for 562,240,300 IPO Shares, with an oversubscription rate of 31.69 times. The public portion recorded 3,829 applications for 548,068,300 IPO Shares, indicating an oversubscription rate of 30.86 times.

The 15,000,000 IPO Shares made available for application by the Eligible Persons were fully subscribed.

Under the Institutional Offering, the Sole Bookrunner has confirmed that it has received offers to subscribe the 168,627,200 IPO Shares offered to institutional and selected investors.

The institutional price has been fixed at RM0.27 per IPO Share. Accordingly, the final retail price for the IPO Shares under the retail offering has also been fixed at RM0.27 per IPO Share. As the final retail price equals to the retail price, there will be no refund to be made to the successful applicants under the retail offering.

Managing Director of KJTS, Mr. Lee Kok Choon shared: “The remarkable reception of our IPO reflects the market’s trust in KJTS’s strategic vision and prospects. This investor enthusiasm solidifies our dedication and commitment to deliver excellent building support services throughout its target audience.

With a strong emphasis on sustainability, KJTS Group is positioned to stimulate growth and elevate our services throughout Malaysia, Singapore and Thailand, with a specific focus on the cooling energy market. The positive response from investors underscores the market’s confidence in KJTS Group’s capabilities and its commitment to forging a sustainable and energy efficient future.”

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner.

KJTS is set to debut on the ACE Market of Bursa Securities on 26 January 2024.

KJTS to Raise RM58.9 Million from ACE Market IPO

IPO Targets Strategic Expansion and Strengthening of Operations Across Southeast Asia

KJTS Group Berhad (KJTS or the Company), and its subsidiaries (collectively referred to as the KJTS Group), a building support services provider in Malaysia, Thailand and Singapore, is pleased to announce the Company’s launch of the prospectus for upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

[L-R]:
1. Dr. Teoh Pek Loo, Independent Non-Executive Director, KJTS Group Berhad
2. Mr. Ng Kok Ken, Independent Non-Executive Director, KJTS Group Berhad
3. Mr. Sheldon Wee Tah Poh, Executive Director, KJTS Group Berhad
4. Ms. Lee Jim Leng, Group Managing Director and Chief Executive Officer, Hong Leong Investment Bank Berhad
5. Mr. Lee Kok Choon, Managing Director, KJTS Group Berhad
6. Ms. Elaine Law Soh Ying, Independent Non-Executive Director, KJTS Group Berhad
7. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad

The IPO aims to raise RM58.9 million through the issuance of 218.03 million new shares at a retail price of RM0.27 per share. The proceeds from the IPO will be allocated as follows:

RM44.9 million for business expansion, including RM40.4 million specifically for the expansion of the Cooling Energy Segment and RM4.5 million for expansion of offices in Malaysia, Thailand, and Singapore.
RM8.1 million for working capital.
RM5.8 million to defray listing expenses.

Executive Director of KJTS Group Berhad, Mr. Sheldon Wee Tah Poh stated, “I am proud to be part of this pivotal moment with our prospectus launch. This step marks a significant milestone for KJTS, symbolising our commitment to growth and innovation in the building support services industry. It paves the way for us to enhance our services and expand our reach in Malaysia, Singapore, and Thailand. We are optimistic about the future and the opportunities this IPO opens for our company.

Our IPO also marks a significant step in scaling our operations and enhancing our service offerings in Malaysia, Singapore, and Thailand. The focus on expanding our Cooling Energy Segment and our regional office network reflects our commitment to meeting the growing demand for high-quality building support services.”

Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad, Ms. Lee Jim Leng, expressed her support, stating, “As we step into an era where sustainability and efficiency are valued, KJTS is well-positioned to meet these challenges head-on. KJTS’s strategic vision, combined with operational excellence, ensures their continued growth and competitive edge in the building the support services sector.”

KJTS has demonstrated consistent growth, underpinned by the Group’s expertise in EPCC of cooling energy systems, cleaning services, and FM services. The Company’s commitment to quality, efficiency, and sustainability has established it as an established provider in Malaysia, Singapore, and Thailand.

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner.

KJTS Group Berhad Inks Underwriting Agreement with Hong Leong Investment Bank

KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as the “KJTS Group”), a building support services provider in Malaysia, Thailand and Singapore, are pleased to announce the signing of the underwriting agreement with Hong Leong Investment Bank Berhad (“HLIB”) for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Executive Director of KJTS Group, Mr. Sheldon Wee; Group Managing Director and Chief Executive Officer of Hong Leong Investment Bank Berhad, Ms. Lee Jim Leng; Managing Director of KJTS Group, Mr. Lee Kok Choon [L-R]

The IPO exercise, as detailed in the Company’s draft prospectus available on the Bursa Malaysia Berhad’s website, involves the issuance of approximately 218.03 million new ordinary shares. This represents 31.69% of KJTS’s enlarged number of issued shares, which is split between the retail offering of 49.40 million new ordinary shares which represents 7.18% of the enlarged issued shares and institutional offering of 168.63 million new ordinary shares to institutional and selected investors which represents 24.51% of the enlarged issued shares.

Hong Leong Investment Bank Berhad, as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner will underwrite the entire 49.40 million new ordinary shares under the retail offering.

Managing Director of KJTS, Mr. Lee Kok Choon and Executive Director of KJTS, Mr. Sheldon Wee, commented: “This IPO marks a pivotal moment in KJTS’s history, paving the way for our next stage of strategic growth. Our journey with Hong Leong Investment Bank Berhad in this endeavour is instrumental in realising our expansion goals and strengthening our market position. The funds raised from the IPO will be primarily deployed to expand our cooling energy segment in Malaysia. Our cooling energy services enables us to take advantage of opportunities from growing awareness of Environmental, Social and Governance (ESG) principles as these cooling energy systems help our customers reduce carbon dioxide emissions through the reduction of electricity consumption. We also plan to use these funds to expand our offices in Malaysia, Thailand, and Singapore. This financial boost is key to our commitment to sustaining and expanding our services across these countries.”

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng said: “We are pleased to have played a key role in KJTS Group Berhad’s IPO journey. We hope that KJTS’s market presence and future growth plans will present a compelling opportunity for investors. We are confident that this listing will be a significant step forward for the company.

The listing of KJTS on Bursa Securities is set to provide a robust platform for the company to embark on its next phase of growth and aligns its long-term vision to solidify its position as a leader in the building support services sector.”

KJTS Group Berhad Receives Bursa Malaysia’s Approval for ACE Market Listing

KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as “KJTS Group” or the “Group”), a building support services provider in Malaysia, Thailand and Singapore, are pleased to announce its approval to list on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”). The Company is set to offer a total of approximately 218.03 million new ordinary shares, representing 31.69% of its enlarged issued share capital of 688.00 million ordinary shares, in its upcoming initial public offering (“IPO”).

Since 1984, KJTS Group has evolved significantly over the years. The leadership of the current management team of the Group has been instrumental in shaping KJTS Group’s growth. Today, KJTS Group’s operations extends across Malaysia, Singapore, and Thailand. The Group’s core expertise lies in delivering cooling energy, cleaning, and facilities management services. This includes comprehensive range of cooling energy services which include cooling energy management and engineering, procurement, construction and commissioning of cooling energy systems services, alongside general and specialised cleaning services, and FM services that cover the repair and maintenance of mechanical and electrical machinery and equipment, process utilities, and food and beverage and retail outlet equipment. The services that KJTS Group provides are synergistic as cooling energy, cleaning and facilities management services are necessary for the proper functioning of many types of buildings, including commercial properties such as shopping complexes and offices, manufacturing facilities and institutional buildings such as universities and hospitals.

According to KJTS’ draft prospectus for the IPO posted on the Bursa Malaysia Berhad’s website, the listing exercise involves the IPO of approximately 218.03 million new ordinary shares or 31.69% of the enlarged issued share capital with no offer for sale.

The new ordinary shares will be offered in the following manner:

1. Retail offering of 49.40 million new ordinary shares, representing 7.18% of the enlarged issued shares:

a. 34.40 million new ordinary shares for application by the Malaysian public via balloting, of which 17.20 million new ordinary shares (representing 2.50% of the enlarged issued shares) are reserved for application by Bumiputera investors including individuals, companies, societies, co-operatives and institutions;

b. 15.00 million new ordinary shares reserved for application by the eligible directors, eligible key senior management, eligible employees and persons who have contributed to the success of the Group.

2. Institutional offering of approximately 168.63 million new ordinary shares representing 24.51% of the enlarged issued shares to institutional and selected investors.

Managing Director of KJTS Group, Mr. Lee Kok Choon (“KC Lee”), commented on the milestone, saying, “We are grateful to the Bursa Malaysia for their approval of our IPO on the ACE Market. This listing is a pivotal step in elevating KJTS’ profile and further extending our market reach across Malaysia, Singapore, and Thailand. The IPO also opens doors to capital markets, enabling us to secure funding for our next phase of growth and expansion, particularly in our cooling energy segment.”

KC Lee further added, “The funds raised will significantly contribute to our strategic plans, including the expansion of our cooling energy segment in Malaysia and our operational presence in Malaysia, Singapore and Thailand. This move aligns with our long-term vision to solidify the Group’s position as a leading provider in the building support services industry.”

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner.

KJTS Group Berhad: http://www.kjts.com.my