YTL Corporation

YTL Corporation Berhad
Public
Industry Utilities, Construction, High Speed Rail, Property, Hotels & Resorts
Founded 1955
Headquarters Kuala Lumpur, Malaysia
Key people
 Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay, Executive Chairman
Tan Sri Dato’ (Dr) Francis Yeoh CBE, Managing Director
Revenue Increase RM19.27 billion (2014)[1]
Increase RM2.8 billion (2014)
Number of employees
 5632
Website

www.ytl.com.my

www.ytlcommunity.com.my

YTL Corporation Berhad (MYX: 4677, TYO: 1773) is a Malaysian infrastructure conglomerate, founded in 1955 by Tan Sri Dato' Seri Yeoh Tiong Lay, after whom the group is named. The company has grown from a small construction firm into an international utilities company which derives over 70 percent of its revenue from outside its home country.

History

Tan Sri Dato' Seri (Dr.) Tiong Lay in 2009

The YTL Corporation (YTL Corp) was founded by Tan Sri Dato' Seri (Dr.) Tiong Lay in 1955. His oldest son, Tan Sri Dato' Seri (Dr) Francis Yeoh Sock Ping, became the Managing Director of YTL Corp in 1988. Under Yeoh's stewardship, the YTL Group grew from a single listed entity in 1985 to a group of five listed companies. Today, YTL Corp is one of the Bursa Malaysia's largest companies and together with its listed subsidiaries has a combined Market Capitalisation of about RM30.8 billion (US$10.15 billion). The company has also been listed on the Tokyo Stock Exchange since 1996, being the first Asian non-Japanese company to be listed there.[2]

YTL Group had an annual average compounded growth rate of 55% over the 15 years to 2010.[3] The group's portfolio of business includes power, utilities, cement, construction, real estate, information technology and leisure in Asia-Pacific and Europe. These various business units contributed at least RM1bil a year in dividends to YTL Corp.[4]

Amongst the group's key businesses are utilities, operating and maintenance (O&M) activities, high-speed rail, cement manufacturing, construction contracting, property development, hotels & resorts, technology incubation, real estate investment trust (REIT), and carbon consulting. YTL serves more than 12 million customers in over three continents.[2]

In 2010 Malaysian Business Magazine Top 100 Companies survey of Malaysia’s largest listed companies, YTL Corp has emerged as the largest non-government linked company in Malaysia.[5] YTL Corp has also been named as one of the Top 250 Global Energy Companies in Asia under the Platts Top 250 Global Energy Company rankings and also earned a ranking of 15 overall in the Fastest Growing Asian Companies.[6]

Major Subsidiaries

YTL's major subsidiaries are YTL Power International Berhad, YTL Cement Berhad, Syarikat Pembinaan Yeoh Tiong Lay Sdn Bhd, YTL Land & Development Berhad, YTL Hotels & Properties Sdn Bhd, YTL e-Solutions Bhd and YTL-SV Carbon Sdn Bhd.[7]

YTL Power International

YTL Power International Berhad (YTLPI) is the utility subsidiary of YTL Corp. YTLPI owns and operates some 5,500MW of gas, oil and coal-fired power generation plants in Malaysia, Singapore and Indonesia. YTLPI is the first IPP (independent power producer) in Malaysia with two gas-fired combined cycle power plants with a combined capacity of 1,212 MW. The two plants are located at Paka, Terengganu, and Pasir Gudang, Johor. The licence was awarded after a major power blackout in Malaysia in the mid-1990s, for 21 years and it expires in September 2015.[8][9]

YTLPI has a 35% stake in PT Jawa Power, the second largest IPP in Indonesia, which owns a 1,220MW coal-fired power plant located at the Paiton Power Generation Complex in East Java, Indonesia. YTLPI through its wholly owned subsidiary PowerSeraya Limited in Singapore, is the second largest power generation company in terms of installed capacity, with a total licensed capacity of 3,100 MW, and also is an active trader of oil products where it has approximately 1 million m3 of storage capacity.

YTLPI has 100% stake in Wessex Water Services Limited, a water and sewerage services company that serves an area of the south west of England. YTLPI has a one-third stake in ElectraNet S.A. which owns and operates the electricity transmission network in South Australia.

YTLPI also owns a 60% stake in YTL Communications, which has approval from the Malaysian Communications and Multimedia Commission (MCMC) to operate a 2.3 GHz WiMAX wireless broadband network in Malaysia known as YES, rolled out its service on 19 November 2010.

YTL Power International Berhad (YTLPI) on 13 December 2010 signed an agreement in Amman, by which YTLPI acquired 30% stake in Estonian state oil company Eesti Energia's Jordanian oil shale projects. Under the agreement, Eesti Energia and its Jordanian partner Near East Investment, along with YTL Power will develop an oil plant with an output of about 38,000 barrels per day (bpd) and a 900 megawatt oil-shale fired power plant.[10]

YTL Cement

YTL Cement Bhd is a manufacturer of cement and ready-mix concrete products in Malaysia with interest in Jurong Cement Limited in Singapore and a 100% interest in Zhejiang Lin'an Jin Yuan Cement Co Ltd in China.

Syarikat Pembinaan YTL

YTL Corp's flagship construction arm is 100%-owned Syarikat Pembinaan YTL Sdn Bhd (SPYTL), a "Class A" Malaysian Turnkey contractor, which completed approximately RM7.25 billion (US$2.1bn) worth of contracts on schedule and on budget.[11]

YTL Land & Development

YTL Land & Development Bhd (YTL L&D) currently has a land bank of more than 2,000 acres in Malaysia. Its largest project at present is Sentul, an urban renewal project, is a 294-acre residential and commercial development and Malaysia's first private gated park. YTL Land will be also developing Singapore’s Sandy Island and Kasara villas in Sentosa Cove and redeveloping Westwood Apartments on Orchard Boulevard.

YTL Hotels

YTL Hotels (YTL Hotels & Properties Sdn Bhd) is the hospitality arm of YTL Corp, is involved in both the ownership and management of hotels and resorts and operation of luxury trains in Malaysia, Australia, China, Indonesia, Japan, Thailand, and United Kingdom.[12] Majority of the hotel assets are owned by YTL Hospitality REIT, which was listed on the Main Market of Bursa Malaysia Securities Berhad under the name of Starhill REIT on 16 December 2005.[13]

The YTL Hotels owned a 462ha mountain ski resort, Niseko Village in Hokkaido, Japan and plan to develop it into a world-class alpine destination.[14]

In February 2014, the company announced the acquisition of Thermae Development Co Ltd, which holds the licence to operate Thermae Bath Spa complex, located at the Unesco World Heritage City of Bath in the United Kingdom for £12mil (RM65.08mil).[15]

List of Properties

Australia

Japan

Malaysia

Other Asian countries

Europe

YTL e-Solutions

YTL Corp undertakes IT and e-commerce initiatives through 74%-owned YTL e-Solutions Bhd, a technology incubator listed on the MESDAQ market of the Bursa Malaysia. Infoscreen Networks PLC is a digital narrowcasting business listed on the Alternative Investment Market of the London Stock Exchange, through YTL Info Screen Sdn Bhd owns and operates four digital narrow cast media networks in the Bukit Bintang area of Kuala Lumpur, and on the Express Rail Link train to Kuala Lumpur International Airport in Malaysia.

YTL-SV Carbon

In 2008, YTL Corp acquired a 75% stake in the Malaysian-based Clean Development Mechanism (CDM) developer, YTL-SV Carbon Sdn Bhd (then known as SV Carbon), which is currently the largest CDM consultancy in Malaysia and the fifth largest in ASEAN with projects in Malaysia, Indonesia, Vietnam and China.

Acquisitions

ElectraNet Pty Ltd

In 2000, YTL Power had acquired 33.5% of Australia's ElectraNet Pty Ltd for some RM1.9 billion. ElectraNet which owns and operates the power transmission network in South Australia, under a 200-year power transmission agreement.

Wessex Water

In May 2002, YTL Power International acquired a 100% stake in Wessex Water for £544.5 million in cash and assumed £695 million of debts. Wessex Water is a regional water and sewerage operators in the United Kingdom serving parts of south west and southern England. The area cover by Wessex Water include Dorset, Somerset, Bristol, most of Wiltshire and parts of Gloucestershire and Hampshire.

PT Jawa Power

In 2004 YTL Power International bought a 35% stake in PT Jawa Power for US$139.4 million from PT Bumipertiwi Tatrapradipta, holding 15%. Another shareholder is Siemens Project Ventures GmbH with 50% of the shares. PT Jawa Power is the second largest independent power producer (IPP) in Indonesia. It has a 1,220MW coal-fired power plant located at the Paiton Power Generation Complex in East Java, Indonesia. PT Jawa Power has a 30-year PPA with PT PLN (Persero), the state-owned electric utility company.

Starhill Global REIT

In October 2008, YTL Corporation announced that it will acquire 26% stake in Starhill Global REIT (then known as Macquarie Prime REIT) for S$202 million. Based on the acquisition price, it is a 49% discount to its net asset value and estimated dividend yield for 2009 is approximately 9.4%. Starhill Global has a property portfolio comprising two landmark shopping complex in Orchard Road, Singapore — Wisma Atria and Ngee Ann City. In Tokyo, it has seven properties located in the prime areas of Roppongi, Shibuya-ku, Minato-ku and Meguro-ku and also one retail property known as Renhe Spring Zongbei Department Store in Chengdu, China. The acquisition of David Jones Building in Perth, Australia in the early of 2010, was completed at a purchase price of A$114.5 million. On 28 June 2010, the acquisition of Lot 10 and Starhill Gallery in Kuala Lumpur, Malaysia expanded Starhill Global REIT’s portfolio to 13 assets located in Singapore, China, Japan, Australia and Malaysia.[16]

PowerSeraya

In December 2008, YTL Power International Bhd announced that it will pay S$3.6bil cash and take on a debt of $201 million for PowerSeraya Ltd. PowerSeraya is the second largest power generation company in Singapore by installed capacity, supply about a quarter of Singapore's total licensed generation capacity.[17] It has a licensed generating capacity of 3,100MW and is situated on Jurong Island, Singapore. Seraya Energy Pte Ltd, a 100% subsidiary of PowerSeraya, had 18% total market share of the Singapore electricity market in 2007.[18]

References

  1. ↑ "YTL Corp annual report" (PDF). Retrieved 20 December 2014.
  2. 1 2 "YTL Corporation". YTL Corporation. Retrieved 28 May 2013.
  3. ↑ "YTL Corp, with cash reserves of RM10.8bil, is largest listed non-GLC". The Star Online. Retrieved 5 November 2010.
  4. ↑ "A wide palette for investors". The Star Online. Retrieved 5 November 2010.
  5. ↑ "YTL Corp is Largest Listed Non-GLC Company in M'sia as Listed by MB100". YTL Corporation. Retrieved 4 August 2014.
  6. ↑ "YTL Corp named a Platts Top 250 Global Energy Company for 2010". YTL Corporation. Retrieved 4 August 2014.
  7. ↑ "YTL Corporation". Study Mode. Retrieved 4 August 2014.
  8. ↑ "Family Business: YTL outlasts many Fortune 500 family companies". The Edge Malaysia. Retrieved 4 August 2014.
  9. ↑ "Crony Comments Put YTL in Bad Light". The Establishment Post. Retrieved 4 August 2014.
  10. ↑ Reuters. "YTL Power acquires 30% of Jordan shale project". gulfnews.com.
  11. ↑ "YTL Corporation - Construction Contracting". YTL Corporation. Retrieved 28 May 2013.
  12. ↑ "YTL Hotels & Properties Sdn Bhd: Private Company Information - Businessweek". Businessweek.com.
  13. ↑ http://www.ytlhospitalityreit.com/overview.html
  14. ↑ Paige Lee Pei Qi, Singapore, August 8, 2014. "YTL unveils masterplan for world-class alpine destination at Niseko - TTG Asia - Leader in Hotel, Airlines, Tourism and Travel Trade News". ttgasia.com.
  15. ↑ http://www.theedgemalaysia.com/business-news/273720-ytl-acquires-thermae-development-for-rm65-million.html
  16. ↑ "YTL Corp Completes Acquisition of 26% of Macquarie Prime REIT & 50% of Prime REIT Management Holdings Pte Ltd". YTL Corporation. Retrieved 28 May 2013.
  17. ↑ "Temasek sells PowerSeraya to YTL Power for S$3.8b". Channelnewsasia.com. Retrieved 19 October 2009.
  18. ↑ "YTL Power acquires PowerSeraya from Temasek". The Star Online. Retrieved 19 October 2009.
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