Kuala lumpur: KJTS Group Bhd's shares rose in early trade today after its Thailand unit secured four new long-term contracts. At 10.12 am, KJTS shares rose four sen to RM1.13, with 668,400 shares traded.

According to BERNAMA News Agency, Kenanga Investment Bank Bhd reported that KJTS' Thailand subsidiary, KJTN Engineering Company Ltd, had entered into four 20-year agreements with subsidiaries of Central Plaza Hotel Public Company Ltd. The agreements involve retrofit works, operations and maintenance services, and chilled-water supply at four hotels in Thailand.

Kenanga noted that the projects will require approximately RM11 million in retrofit investments, with recurring operations and maintenance as well as chilled-water supply services anticipated to begin in March 2027. The agreements carry total fixed fees of about RM48 million over 20 years, equivalent to RM2.4 million annually, excluding variable chilled-water fees.

Following the contract wins, Kenanga has adjusted its financial year 2026 (FY2026) and FY2027 earnings forecasts for KJTS, increasing them by two per cent and five per cent, respectively. The research house maintained its 'outperform' call on KJTS and increased its target price to RM1.60 from RM1.57.