CEO Morning Brief

Jati Tinggi Bags RM25.5 Mil Job From TNB to Lay Cables for Data Centre

edgeinvest
Publish date: Fri, 17 Jan 2025, 09:50 AM
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TheEdge CEO Morning Brief
Infrastructure and engineering company Jati Tinggi Group Bhd has been awarded a RM25.5 million contract by Tenaga Nasional Bhd through its unit Jati Tinggi Holding Sdn Bhd to lay underground double-circuit cables for a data centre in Selangor.

KUALA LUMPUR (Jan 16): Infrastructure and engineering company Jati Tinggi Group Bhd has won the tender for a RM25.5 million contract from Tenaga Nasional Bhd (TNB) to lay underground double-circuit cables for a data centre in Selangor.

Jati Tinggi secured the project via its wholly owned Jati Tinggi Holding Sdn Bhd. The contract is expected to be completed within 270 days from the commencement date, said Jati Tinggi in a bourse filing on Thursday.

The company provides engineering services and solutions for underground and overhead utilities.

For the first nine months of 2024 (9MFY2024), Jati Tinggi recorded a net profit of RM9.26 million, more than double the RM3.5 million it achieved in the same period last year, surpassing its total net earnings for FY2023.

The company secured RM270 million worth of contracts in 9MFY2024, bringing its outstanding order book to about RM400 million. About 20% of its project wins are related to data centres.

As of November 2024, the group was bidding for RM1 billion worth of projects.

Jati Tinggi's share price settled half a sen or 1.15% higher at 44 sen on Thursday, giving the company a market capitalisation of RM172.39 million. Over the past one year, the counter has gained more than 30%.

Source: TheEdge - 17 Jan 2025

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