Kuala Lumpur, 19 November 2009
YTL Corporation Berhad (“YTL Corp”) today announced a 126.0% growth in revenue to RM3,930.1 million (US$1,155.9 mn, based on the prevailing exchange rate of US$1.00:RM3.40) for the 3 months ended 30 September 2009, compared to RM1,739.2 million (US$511.5 mn) for the preceding corresponding period ended 30 September 2008. Profit before taxation grew 59.5% to RM503.2 million (US$148.0 mn) for the first quarter of the financial year ending 30 June 2010, compared to RM315.4 million (US$92.8 mn) last year, after adjusting for the fair value gain on investment properties recognized last year amounting to RM254.5 million.
YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group has made an excellent start for the 2010 financial year with all divisions across the board registering earnings increases. In our utilities division, PowerSeraya in Singapore, the newest addition to the Group, continued to boost earnings this quarter. At 3,100 megawatts, PowerSeraya owns about 25% of Singapore’s licensed generation capacity, making it a behemoth in its operating sphere. Similarly, Wessex Water in the UK continues to reign as the top-performing water company. We continue develop our intellectual capital through enhanced plant operation and maintenance (O&M) expertise and strong financial foundations to continue to add value to these new members of the Group’s family of companies.
“Looking at the year ahead, we expect our divisions to continue to operate steadily. We also announced yesterday a rationalisation of the RM8.0 billion in hotel and retail assets currently under the Group’s control into global REIT portfolios. These assets are currently owned by the Group’s hotels division, Starhill REIT in Malaysia and Starhill Global REIT in Singapore and the rationalisation exercise is intended to streamline the operations of these entities, with Starhill REIT to be repositioned as a global hospitality REIT with new hotel and hospitality-related assets to be injected to increase its portfolio to an eventual size of RM1.6 billion.”
YTL POWER INTERNATIONAL BERHAD
1st Quarter Revenue Soars 205% to RM3.2 Billion (US$942 Million)
30% Increase in Profit Before Tax to RM319 Million (US$94 Million)
7.5% Single Tier Interim Dividend Declared
YTL Power registered a 205.3% jump in revenue for the 3 months ended 30 September 2009 to RM3,203.7 million (US$942.3 mn), due principally to the consolidation of results from PowerSeraya Limited, which YTL Power acquired in March 2009. Profit before taxation stood at RM318.9 million (US$93.8 mn) for the 3 months ended 30 September 2009, an increase of 29.7% over RM245.8 million (US$72.3 mn) for the same period last year.
The Group’s utilities now comprise the Paka and Pasir Gudang power stations in Malaysia, Wessex Water Limited in the UK, PowerSeraya Limited in Singapore, P.T. Jawa Power (a 35%-owned associate company) in Indonesia and ElectraNet Pty Ltd (a 33.5% indirect investment) in Australia.
YTL Power declared a 7.5% single tier first interim dividend for the financial year ending 30 June 2010. The book closure and payment dates for the dividend are 6 January 2010 and 21 January 2010, respectively.
YTL CEMENT BERHAD
1st Quarter Revenue Stands at RM448 Million
5% Growth in Profit Before Tax to RM106 Million
7.5% Single Tier Interim Dividend Declared
YTL Cement’s revenue for the first quarter of the financial year ending 30 June 2010 stood at RM447.6 million (US$131.6 mn), compared to RM459.0 million (US$135.0 mn) for the previous corresponding quarter ended 30 September 2008. Profit before taxation grew 4.6% to RM106.5 million (US$31.3 mn) this year, compared to RM101.8 million (US$30.0 mn) last year. The improvements in financial performance were due mainly to improved operational efficiencies and lower production costs for the period under review.
YTL Cement declared a 7.5% single tier first interim dividend for the financial year ending 30 June 2010. The book closure and payment dates for the dividend are 6 January 2010 and 21 January 2010, respectively.
YTL LAND & DEVELOPMENT BERHAD
51% Increase in Revenue to RM97 Million
Profit Before Tax Grows to RM10 Million
YTL Land & Development reported a 51.0% increase in revenue to RM97.2 million for the 3 months ended 30 September 2009, compared to RM64.4 million last year. Profit before taxation grew to RM9.8 million this year over RM2.1 million last year, with the growth arising mainly as a result of overwhelming sales of completed units recorded for the Waterville and Parkville developments under the Lake Edge project, as well as higher progress recognition from The Centrio, the latest phase of the Group’s iconic Pantai Hillpark development.
YTL E-SOLUTIONS BERHAD
32% Jump in Revenue to RM12.5 Million
Profit Before Tax Grows 84% to RM6 Million
YTL e-Solutions recorded a 32.1% increase in revenue to RM12.5 million for the first quarter of the financial year ending 30 June 2010, over RM9.5 million for the same period last year. Profit before tax grew 83.8% to RM6.2 million this year, compared to RM3.3 million for the previous corresponding quarter ended 30 September 2008. This was attributed mainly to maiden fee income derived from the spectrum sharing agreement relating to its 2.3 GHz Worldwide Interoperability for Microwave Access (WiMAX) spectrum.
STARHILL REAL ESTATE INVESTMENT TRUST
Marginal Increase in Revenue to RM28 Million
Income for the Period Stands at RM20 Million
Starhill REIT achieved a marginal increase in revenue to RM28.1 million for the first quarter ended 30 September 2009, compared to RM27.9 million for the preceding corresponding period last year. Realised income before tax for the period stood at RM20.5 million this year compared to RM20.6 million last year.
Yesterday, Starhill REIT announced that it was embarking on a rationalisation exercise to reposition the Trust as a global hospitality REIT. The first stage of this process was the entry into a Heads of Agreement relating to the disposal of Starhill Gallery and the Trust’s parcels in Lot 10 Shopping Complex to Starhill Global REIT in Singapore. Subsequent stages will involve injections of further hotel assets into the streamlined Trust, the details of which will be determined and announced in due course.