KJTS Group gets approval for ACE Market listing

BUILDING support services provider, KJTS Group Bhd, has received approval from Bursa Securities Malaysia Bhd to be listed on Bursa Malaysia’s ACE Market. 

The company, known for installing and managing building cooling energy systems and offering facilities management services in Malaysia, Thailand and Singapore, is set to launch an IPO for 31.69% of its enlarged share capital, with no offer for sale by existing shareholders. 

KJTS has shown consistent growth, with its profit after tax (PAT) increasing at an average rate of 12.84% from RM5.39 million to RM6.87 million in the financial year 2022 (FY22). 

Revenue has also seen an average annual growth of 13.15%, reaching RM94.44 million in FY22 from RM73.76 million. 

The company plans to recommend and distribute a dividend of at least 20% of its annual audited consolidated PAT to its shareholders. KJTS Group MD Lee Kok Choon expressed gratitude to Bursa Malaysia for approving their IPO on the ACE Market, emphasising the listing as a pivotal step in elevating the company’s profile and expanding its market reach across Malaysia, Singapore and Thailand. 

Lee and ED Sheldon Wee Tah Poh are the largest shareholders, each holding 31.7% upon the IPO’s conclusion. 

Out of the planned IPO of 218.03 million shares, 34.4 million shares (5%) are allocated for public balloting, including 17.2 million shares (2.5%) for Bumiputera investors.

Institutional investors will be offered 168.63 million shares, constituting a 24.51% stake. 

In addition to cooling energy systems, KJTS engages in cleaning services, focusing on building and facilities’ cleanliness, tidiness and hygiene. 

Their facilities management services encompass the repair and maintenance of mechanical & electrical services, machinery and equipment, process utilities, plumbing, drainage, sewerage, as well as food and beverages and retail outlet equipment. 

Hong Leong Investment Bank Bhd is serving as the principal advisor, sponsor, sole underwriter, and sole bookrunner for the IPO. TMR

  • This article first appeared in The Malaysian Reserve weekly print edition


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