By Sharen Kaur
sharen@nstp.com.my
Published in NST on May 30, 2012
sharen@nstp.com.my
Published in NST on May 30, 2012
ACQUISITION TARGET: Group seeing some realistic opportunities coming into market and will consider those with 7-10pc yields
He said YTL will consider assets that offer seven to 10 per cent yields.
Yeoh has said previously that if there was nothing attractive to buy, YTL might buy back its subsidiaries.
Speculation has been rife that YTL may consider buying its subsidiary, YTL Cement Bhd, if there are not many attractive M&A opportunities in the market.
At Invest Malaysia yesterday, Yeoh ruled out selling any assets under the group.
"We will never sell our assets, especially when they are all good assets like Wessex Water. Wessex is a top company in the world," he said.
Yeoh also said that YTL is planning a new 1.5-tonne cement factory in Pahang. The company is keen to be a big player in the country's infrastructure development.
"There are a lot of good infrastructure projects coming up under the Economic Transformation Programme. The foundation laid by the government is good and I am confident, as an investor," Yeoh said.
When asked about the status of the high-speed rail linking Kuala Lumpur and Singapore, Yeoh declined to comment.
Meanwhile, he said YTL will continue to expand its business overseas.
Overseas operations, mainly in Australia, the UK and Singapore, currently contribute around 85 per cent to the group's revenue and net profit.
"They are all regulated assets. We have a concession in Australia that runs for 200 years. Whether good or bad times, our overseas and local assets continue to be profitable," Yeoh said.
YTL's earnings rose 16.9 per cent to RM364.82 million in the third quarter ended March 31 2012 from RM312.05 million a year ago, led by its multi-utility business. Revenue rose 23.5 per cent to RM5.24 billion from RM4.24 billion.
YTL shares closed five sen higher yesterday to RM1.82.
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CONGLOMERATE YTL Corp Bhd, which has net cash of RM14 billion, is looking at sizeable mergers and acquisitions (M&As), as well as acquiring new assets to grow its businesses.
YTL group managing director Tan Sri Francis Yeoh sees some opportunities in the market today, amid the eurozone crisis.
"Those days, we were chasing for deals, but now, others are looking for us," he said.
"We are seeing some realistic assets coming into the market, especially in Australia. In China, a lot of mall operators are approaching us. There are other companies wanting to sell their assets, but it is not necessary that we will buy," he added.
YTL group managing director Tan Sri Francis Yeoh sees some opportunities in the market today, amid the eurozone crisis.
"Those days, we were chasing for deals, but now, others are looking for us," he said.
"We are seeing some realistic assets coming into the market, especially in Australia. In China, a lot of mall operators are approaching us. There are other companies wanting to sell their assets, but it is not necessary that we will buy," he added.
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Yeoh has said previously that if there was nothing attractive to buy, YTL might buy back its subsidiaries.
Speculation has been rife that YTL may consider buying its subsidiary, YTL Cement Bhd, if there are not many attractive M&A opportunities in the market.
At Invest Malaysia yesterday, Yeoh ruled out selling any assets under the group.
"We will never sell our assets, especially when they are all good assets like Wessex Water. Wessex is a top company in the world," he said.
Yeoh also said that YTL is planning a new 1.5-tonne cement factory in Pahang. The company is keen to be a big player in the country's infrastructure development.
"There are a lot of good infrastructure projects coming up under the Economic Transformation Programme. The foundation laid by the government is good and I am confident, as an investor," Yeoh said.
When asked about the status of the high-speed rail linking Kuala Lumpur and Singapore, Yeoh declined to comment.
Meanwhile, he said YTL will continue to expand its business overseas.
Overseas operations, mainly in Australia, the UK and Singapore, currently contribute around 85 per cent to the group's revenue and net profit.
"They are all regulated assets. We have a concession in Australia that runs for 200 years. Whether good or bad times, our overseas and local assets continue to be profitable," Yeoh said.
YTL's earnings rose 16.9 per cent to RM364.82 million in the third quarter ended March 31 2012 from RM312.05 million a year ago, led by its multi-utility business. Revenue rose 23.5 per cent to RM5.24 billion from RM4.24 billion.
YTL shares closed five sen higher yesterday to RM1.82.
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