JATI TINGGI GROUP BERHAD (JTGROUP)
JTGROUP Chart
1D ā¢ MYX
8 Oct, 04:36 am
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Company Profile
Jati Tinggi Group Berhad (JTGROUP) - Not Your Ordinary Construction Company
When most investors hear 'construction company', they picture road builders or property developers. JTGROUP is something fundamentally different - it is a power infrastructure engineering specialist that has positioned itself as the backbone of Malaysia's data centre mega-boom in Johor.
Every data centre that Microsoft, Google, AWS, and Nvidia is building in Johor requires a dedicated 275kV high-voltage TNB grid connection. The company installing those underground cables and substations? That is JTGROUP.
Business Foundation
JTGROUP listed on Bursa Malaysia's ACE Market on December 20, 2023 at an IPO price of RM0.27, attracting 16.11x subscription - a strong early signal of market interest. All operations are conducted through its wholly-owned subsidiary, JT High Span Sdn Bhd (JTHSB).
Business Segments
| Segment | Revenue Contribution (Q4 FY2025) | Description |
|---|---|---|
| Underground & Overhead Utilities Engineering | 98.46% | 275kV HV cables, substations, distribution systems |
| Street Lighting | ~1.5% | TNB/local authority street lighting projects |
| Other (Roflex Pipe - new) | - | Polyethylene pipes, integrated March 2026 |
The Transformation: From Standard TNB Contracts to Johor DC Hub
This is a compelling transformation story. In FY2024, approximately 20% of JTGROUP's order book came from data centre-related projects. By January 2026, that figure had surged to approximately 50% of a RM733M order book.
Key contracts secured:
- May 2025: TNB 275kV bulk supply Johor DC (Jelutong GIS) - RM161.45M
- Dec 2025: TNB 275kV bulk supply another Johor DC (JV Idiqa) - RM117.17M
- 2025: TNB 275kV DC Pasir Gudang - RM79.86M
- Mar 2025: TNB cable laying - RM48M
- 2025: TNB 11kV underground cables - RM42.88M
- Feb 2025: TNB submarine cable Sungai Manjung (70% JV) - RM19.41M
- 2025: Public Bank PV solar contract - RM14.88M
Order Book: 2-3 Year Revenue Visibility
As of January 2026, JTGROUP's order book stands at RM733M - representing over 3.7x FY2025 revenue (RM194.998M). This provides exceptional earnings visibility for a company of this size.
Strategic Expansion: Roflex Pipe Acquisition
In March 2026, JTGROUP acquired a 51% stake in Roflex Pipe Sdn Bhd (cost: RM6.12M) - a polyethylene pipe manufacturer used in underground utility projects. This is a calculated vertical integration move - reducing dependency on external suppliers for key materials used in every underground cable installation.
Shariah Status
ā SHARIAH-COMPLIANT - JTGROUP is classified as Shariah-compliant by Malaysia's Securities Commission (SC) Shariah Advisory Council. This means Islamic funds and investors who prioritize Shariah-compliant investments can hold this stock. (An earlier version wrongly labelled this non-compliant due to a data error.)
Company Fundamentals
| Information | Details |
|---|---|
| Bursa Code | 0292 |
| Market | ACE Market, MYX |
| Sector | Construction (Infrastructure Utilities Engineering) |
| Listing Date | December 20, 2023 |
| IPO Price | RM0.27 |
| Current Price | ~RM0.59 (May 2026) |
| Market Cap | ~RM213.6M |
| Shariah Status | Shariah-Compliant |
| Dividends | None (0.00%) |
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