YTL Corp Half-Year Revenue Grows 9% to RM3.4 Billion (US$930 Million)
Profit Down Slightly to RM854 Million (US$236 Million)
YTL Power Declares 7.5% Tax-Exempt Interim Dividend
YTL Cement Declares 7.5% Single Tier Interim Dividend
Kuala Lumpur, 19 February 2009
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "The Group had an active and productive half-year, embarking on two significant new acquisitions. In December 2008, we announced our proposed acquisition of a 100% stake in PowerSeraya Limited, which has 3100MW of licensed capacity, comprising about 25% of Singapore’s total licensed generation capacity. Together with its complementary multi-utility business and strong position in the Singaporean energy market, PowerSeraya will further broaden our utilities expertise and enable us to grow our utilitybusiness in the region. The Group also completed its acquisitions of approximately 26% of Singapore’s Starhill Global REIT and 50% of the holding company of the manager of the REIT during the quarter, and we can now look ahead to building up the Starhill Global brand and seeking yield accretive acquisitions of prime assets for the benefit of the REIT and its stakeholders.
"As reported last quarter, our utilities division has seen a decrease in earnings resulting from foreign currency translation differences this financial year, but profit from operations continues to grow, demonstrating the fundamental combined strength these businesses. Going forward, the further diversification of our income streams into the Singaporean power and REIT industries is well in line with our broader strategy, with the Group’s foreign operations continuing to provide the key drivers of growth. PowerSeraya will fully complement our existing portfolio of utility businesses in the UK, Australia and Indonesia, whilst our stake in Starhill Global REIT takes its place alongside the Group’s high-end real estate investments in Singapore. On the cement front, the division continued to perform extremely well, supported by increased overseas contributions. In addition to operations across Malaysia, the Group also owns stakes in cement businesses in China and Singapore."
YTLe targets nationwide WiMAX rollout in 4Q 2009
The Edge Daily, 28 November 2008
YTL e-Solutions Bhd (YTLE) is aiming for a nationwide rollout of its Worldwide Interoperability for Microwave Access (WiMAX) services by the fourth quarter of 2009, its chairman and managing director Tan Sri Francis Yeoh Sock Ping said.