KJTS Group Berhad announce that its subsidiary in Thailand, KJTN Engineering Co., Ltd, had signed an agreement with Central Plaza Hotel Public Company Limited for the retrofit work, the provision of operation and maintenance services for the chiller plant and supply of chilled water at Centara Grand Mirage Beach Resort Pattaya, Thailand for 20 years.
Centel is a business entity operating in Thailand, primarily in the sector of hotels and resort hotels. The company was incorporated on 12 November 1993, and has been operational for over 31 years. Centel is part of the Central Group, one of Thailand's largest private commercial conglomerates, which has more than 50 subsidiaries with diverse investments in various corporations domestically and internationally. Central Group's business sectors include retail, property development, brand
management, hospitality, food and beverage sectors, and digital lifestyle. This is KJTN Engineering's second project with Central Group.
Under the terms of the Agreement, KJTN Engineering is to finance the retrofit works amounting to THB38,980,000 which is equivalent to approximately RM4.9 million. During the O&M services period, Centel will pay KJTN Engineering a fixed fee of THB620,072 monthly which is equivalent to approximately RM78,230 and a monthly variable fee based on the chilled water supplied.
The total fixed fee for 20 years will be THB148,817,280 which is equivalent to approximately RM18.7 million.