In the latest installment of Kuala Lumpur News, we spotlight three significant developments shaping Malaysia’s business landscape: KJTS Group Berhad’s robust Q3 revenue growth of 11.79 per cent to RM33.5 million, RichTech Digital Berhad’s IPO preparation with KAF Investment Bank Berhad, and Hektar REIT’s strategic advancements as it reports a 7.1 per cent rise in Q3 revenue to RM29.8 million.
KJTS Revenue Climbs
Kuala Lumpur, Nov 26: KJTS Group Berhad reported RM33.54 million in revenue for Q3 FY2024, marking an 11.79 per cent year-on-year increase.
The Cooling Energy segment contributed RM15.19 million, driven by new EPCC projects. Malaysia remained the largest market with RM24.80 million in revenue, followed by Singapore with RM6.72 million.
Profit before tax dropped 50.19 per cent to RM2.50 million due to RM1.60 million in ESOS-related expenses.
Adjusted PBT would have been RM4.08 million. Quarter-on-quarter, revenue rose 15.77 per cent, though PBT decreased from RM4.33 million to RM2.49 million.
Year-to-date revenue reached RM98.72 million, an 11.67 per cent increase, with Cooling Energy and Cleaning Services as key contributors.
Management remains confident in sustainable growth, citing alignment with Malaysia’s NETR and a positive economic outlook supported by Budget 2025 allocations.
RichTech Signs IPO Deal
Kuala Lumpur, Nov 26: RichTech Digital Berhad has signed an underwriting agreement with KAF Investment Bank Berhad for its public offering, ahead of listing on the ACE Market of Bursa Malaysia.
The IPO involves 54.66 million new shares and 25.31 million existing shares, collectively representing 39.50 per cent of the company’s enlarged share capital. Allocation includes 10.12 million shares for the Malaysian public, 1.55 million for eligible employees and directors, and 68.3 million shares for private placements to selected investors.
Proceeds will fund the expansion of RichTech’s proprietary SRS platform, infrastructure upgrades, marketing efforts, and the acquisition of a new office. KAF will underwrite 11.67 million shares for public and eligible individuals.
RichTech’s IPO aims to enhance its role in Malaysia’s electronic reloads and bill payment services, with listing proceeds supporting its growth strategy.
Hektar REIT’s Revenue Rises
Kuala Lumpur, Nov 26: Hektar Asset Management Sdn. Bhd., manager of Hektar Real Estate Investment Trust (Hektar REIT), reported a 7.1 per cent revenue increase to RM29.8 million in Q3 FY2024, driven by stable income from its education asset, Kolej Yayasan Saad.
The REIT achieved an 88.8% secured portfolio occupancy rate with a 7.2 per cent positive rental reversion rate. Subang Parade saw significant improvements, welcoming new tenants and undergoing a multi-phase rejuvenation project, with on-site work set to start in Q1 2025.
Year-to-date revenue grew by 12.9% to RM94.8 million, with net property income up 8.6 per cent to RM50.0 million. Hektar REIT aims to double its portfolio size to RM3 billion by 2027, focusing on retail, education, and light industrial properties while leveraging PropTech to enhance operations.
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