Kenanga raises KJTS earnings forecasts on new Thailand cooling contracts
KUALA LUMPUR: KJTS Group Bhd's latest cooling contracts in Thailand have prompted Kenanga Investment Bank Bhd (Kenanga IB) to raise its earnings forecasts for the company, citing stronger recurring income from the 20-year agreements.
KENANGA INVESTMENT BANK has increased its forecasts for KJTS Group Bhd due to new cooling contracts in Thailand. The financial institution raised earnings forecasts for the fiscal years 2026 and 2027 by 2% and 5%, respectively, following the signing of four 20-year agreements. These contracts involve retrofitting cooling systems and providing operation and maintenance services to four Central Plaza Hotel subsidiaries in Thailand.
Analyst Tan Sue Wen highlighted that these agreements would bolster KJTS' recurring income with a 20-year tenure and expand the company's energy services footprint in the country.
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