KJTS Group Bhd’s unit has signed a 15-year agreement with Central World Hotel Company Limited (Centara) for retrofit works and providing cooling energy management services at Centara Grand Hotel in Bangkok, Thailand for THB125.7 million (approximately RM16.77 million).
In a statement, the group said its subsidiary KJTN Engineering Co, Ltd will be involved in works of retrofit and operation and maintenance services (O&M services) for the chiller plant and chilled water supply at the hotel.
“The O&M services include the provision of management, supervision, personnel, materials, equipment and supplies necessary to operate and maintain the plant and water supply,” it said today (Feb 2).
Under the terms of the agreement, KJTN Engineering shall finance the retrofit works and during the O&M services period charge a fixed fee of THB698,147 monthly which is equivalent to approximately RM93,155 and a variable fee monthly based on the chilled water supplied.
The total fixed fee for 15 years will be THB125,666,460 which is equivalent to approximately RM16,767,927.
The retrofit works are expected to commence on 1 February 2024 and to be completed on 30 November 2024 while the O&M services and chilled water supply will commence on 1 December 2024 and be completed on 30th November 2039.
“The ownership interest in the chiller plant will be transferred to the Centara at the end of the agreement,” KJTS added.
KJTN Engineering Co, Ltd director Kitti Chungsawanant said the agreement with Centara symbolises our commitment to expand our business in Thailand as one of KJTS group’s core regional markets.
“It also marks the start of an important business relationship for KJTS with the Central Group and we are hopeful that the group will be able to provide more building support services for them in the future.
“This venture is poised to bolster our position in the market, reflecting the strategic focus on expanding the Group’s services and influence across Malaysia, Thailand and Singapore,” he added.
