PETALING JAYA: KJTS Group Bhd
’s near-term outlook remains anchored by stronger funding capacity and a wider project pipeline after the entry of Retirement Fund (Inc) or KWAP into its district cooling joint venture (JV).
According to Kenanga Research, the move will materially strengthen the group’s long-term recurring earnings profile.
The research house maintained its “outperform” call and RM1.37 target price, arguing that the revised structure lifts KJTS’ strategic value despite no immediate earnings upgrade.
The key development is the amended JV under Lestari Cooling Energy Sdn Bhd, where Stonepeak now holds 60%, KWAP 30% and KJTS 10%, compared with the earlier 90:10 split between Stonepeak and KJTS.
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