Jati Tinggi to install solar panels at Public Bank's branches

• Jati Tinggi said in a bourse filing that the job involves 135 public bank branches, covering 333 lots of properties owned by Public Bank, Public Bank Group Officers' Retirement Benefits Fund and Public Holdings Sdn Bhd.

KUALA LUMPUR (Dec 17): Infrastructure utilities engineering services provider Jati Tinggi Group Bhd (KL:JTGROUP) announced on Tuesday that it will supply and install photovoltaic solar panel systems at Public Bank Bhd (KL:PBBANK)'s branches, at an estimated cost of RM14.88 million.

Jati Tinggi Holding Sdn Bhd (JTHSB) has inked a memorandum of understanding (MOU) with Public Bank for the project, which is expected to be completed in three years.

Jati Tinggi said in a bourse filing that the job involves 135 public bank branches, covering 333 lots of properties owned by Public Bank, Public Bank Group Officers' Retirement Benefits Fund and Public Holdings Sdn Bhd.

Under the terms of the MOU, JTHSB will conduct site inspections at branches and subsequently provide quotations. Public Bank will evaluate the quotations and issue letters of award for each approved location.

The project shall be completed within three years. The group expects the MoU to contribute positively to its future earnings, earnings per share and net assets per share upon the successful implementation and execution of the project.

Jati Tinggi’s share price settled 0.5 sen or 1.22% lower at 40.5 sen, giving the company a market capitalisation of RM159 million. Compared with its IPO price of 27 sen, the stock has risen 50%.

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