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Remembering Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, 1929 - 2017
melisa@ytlesolutions.com - 18 October 2017 6:27:18 PM

It is with deep sadness that we inform that the late Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, Executive Chairman of YTL Corporation Berhad and YTL Power International Berhad, passed away peacefully on 18 October 2017. [more...]



YTL Corp Records Full-Year Revenue of RM14.7 Billion (US$3.4 Billion)
Profit for the Period Stands at RM1.4 Billion (US$328 Million)

evon@ytlesolutions.com - 29 August 2017 5:59:46 PM

YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group performed well for the 2017 financial year in view of the adverse conditions that have persisted in some of our main operating markets. Our utilities division saw a decrease in revenue and profit before taxation due mainly to the strengthening of the Ringgit against the British Pound in the water and sewerage division which operates in the UK, in addition to the absence of the one-off gain from the arbitration award recorded last year in our contracted power generation division.

“Our cement business registered lower revenue and profit before tax owing to lower demand for cement in the construction industry, competitive pricing and higher production costs, whilst our construction segment achieved an increase in revenue due to better site progress on its projects and an increase in profit before tax on the recognition of an arbitration award.

"The property investment and development segment saw higher revenue from better site progress on the Dahlia, U-Thant Place and Midfields 2 residential projects under development, whilst profit was impacted by a net fair value loss on investment properties recorded by Starhill Global REIT in Singapore. Meanwhile, our hotels segment benefited from better performances by the Group’s hotels in Hokkaido, Bath, Sabah and Kuala Lumpur, as well as a lower unrealised foreign exchange loss on intercompany balances resulting from the weakening of the Ringgit against the Japanese Yen.

“Our management services segment recorded decreases in revenue and profit due to lower contributions from operation and maintenance (O&M) activities in Malaysia, higher interest expenses and the absence of a one-off deferred tax credit recorded last year [more...]




YTL Corp Records 9-Month Revenue of RM10.8 Billion (US$2.5 Billion)
Profit for the Period Stands at RM1.0 Billion (US$234 Million)

melisa@ytlesolutions.com - 25 May 2017 6:32:01 PM

YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “The Group’s performance remained satisfactory during the first 3 quarters of the 2017 financial year in view of ongoing pressures that have persisted in our main operating industries. Our utilities division saw a decline in revenue and profit mainly due to the absence of revenue from the contracted power generation segment following the completion of our power purchase agreement in September 2015.

The strengthening of the Malaysian Ringgit against the British Pound impacted the results of the water and sewerage segment, whilst the merchant multi-utilities division registered an increase in profit due to higher fuel prices, coupled with lower operating and interest expenses.

“In new developments in the utilities business, we increased in our stake in Attarat Power Company (APCO) to 45%, from 30% previously, upon the project achieving financial close in March 2017. APCO is developing a 554 megawatt oil shale fired power generation project in the Hashemite Kingdom of Jordan, targeted to commence operation in 2020. The project has a 30-year power purchase agreement for the plant’s entire electrical capacity with NEPCO, Jordan’s state-owned power utility, with an option for NEPCO to extend the operating period of the power purchase agreement to 40 years.

“In addition, in our contracted power generation division, the extension for the supply of 585 megawatts of capacity from our existing power station in Paka, Terengganu, for a revised term of 3 years 10 months has now been finalised and is scheduled to commence on 1 September 2017.

“In the Group’s other operations, revenue and profit in the cement division decreased primarily as a result of lower demand for cement in the construction industry, competitive pricing and higher production costs, whilst the improved financial performance of the construction division was due to higher revenue recognition of construction contracts and better contract margins. The property investment and development segment saw higher revenue and profit arising from better site progress on The Fennel project and higher unrealised foreign exchange gains.” [more...]




YTL Corp Records 1st Quarter Revenue of RM3.5 Billion (US$814 Million) & Profit of RM263 Million (US$61 Million)
farah@ytlcommunity.com - 17 November 2016 5:44:23 PM

YTL Group Managing Director Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, “Our Group has continued to perform satisfactorily, weathering the ongoing challenging conditions in some of our key operating markets. Our utilities division registered a decrease in revenue and profit owing to the absence of revenue from the contracted power generation segment, following the completion of our power purchase agreement in September 2015, coupled with lower fuel oil prices in the merchant multi-utilities division in Singapore and the strengthening of the Ringgit against the British Pound, impacting the water and sewerage sub-segment.

“The cement division saw lower revenue and profit due to competitive pricing and lower sales volumes, whilst the construction segment recorded an improvement in profit owing to better contract margins.

“Our hotels segment also continued to perform well and, in September, completed the acquisition of The Glasshouse Hotel, located in the heart of Edinburgh and part of Marriott International’s Autograph Collection, and the Academy Hotel, comprising five restored Georgian townhouses in London’s West End.

“We are currently in the process of completing the share exchange offer for YTL e-Solutions, which was delisted from the ACE Market on 4 November 2016. The compulsory acquisition of the remaining shares of YTL e-Solutions is expected to be completed in December this year, following which, it will become a wholly-owned subsidiary of YTL Corp.” [more...]




YTL Corp Records Full-Year Revenue of RM15.4 Billion (US$3.8 Billion), Profit for the Period Grows 10% to RM1.9 Billion (US$471 Million)
YTL Corp Declares 9.5 Sen Interim Dividend; YTL Power Declares 10 Sen Interim Dividend

izan@ytlcommunity.com - 25 August 2016 6:39:53 PM

YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "For the 12 months ended 30 June 2016, the Group recorded revenue of RM15.4 billion and profit of RM1.9 billion. Our utilities division registered a decrease in revenue and profit owing to the absence of revenue from the contracted power generation segment, following the completion of our power purchase agreement in September 2015, coupled with lower vesting volumes in the merchant multi-utilities segment in Singapore. We have been awarded a project for supply of power from our existing facility in Paka under the short term capacity bid called by the Malaysian Energy Commission, and negotiations on this are currently ongoing.

"Our water and sewerage business in the UK turned in another strong performance, and the Group also saw an increase in share of profits from our associate, Jawa Power in Indonesia, due to an increase in deferred tax credits on revaluation of the power plant.

"The improved performance of our construction division arose from higher revenue recognition of construction contracts and better contract margins, whilst the cement division recorded lower revenue and profit due to competitive pricing, lower sales volumes and higher finance costs expensed following commercial operation of a plant.

"Meanwhile, the Group's property development business achieved higher revenue on the back of the acquisition of Myer Centre Adelaide in Australia by Starhill Global REIT in Singapore, and better site progress from the Fennel project in Sentul, although profit was impacted by the completion of projects during the last financial year and unrealised foreign exchange losses on an Australian Dollar denominated term loan recorded by YTL Hospitality REIT.

"In our hotel division, higher revenue was contributed by Niseko Village in Japan and The Gainsborough Bath Spa in the UK, whilst the decrease in profit arose mainly from unrealised foreign exchange losses on inter-company balances." [more...]



 
 
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