By Sharen Kaur
Subhead: Group evolves into powerhouse with operations in Asia, Europe and Australia
KUALA LUMPUR: SEVENTY years ago, in the modest town of Klang, a builder's dream took root. What began as a small construction outfit founded in 1955 by the late Tan Sri Yeoh Tiong Lay (1929-2017) would grow into one of Malaysia's most iconic conglomerates.
From laying roads and building schools for a young, newly independent nation, the YTL group has evolved into a multinational powerhouse through YTL Corp Bhd, with operations across Asia, Europe and Australia. Its influence today spans six core industries — utilities, construction, property, hotels, telecommunications and technology — but its true legacy lies beyond balance sheets.
For YTL, building has always been more than bricks and mortar; it is about creating value with purpose, integrity, and vision for future generations.
Building Malaysia's Foundations (1950s-2010s)
The early decades of YTL were defined by grit, resilience and a relentless pursuit of excellence. In the 1970s, the company's construction arm gained momentum, tackling increasingly complex projects that cemented its reputation for quality and reliability. By the 1980s, YTL had expanded into property development and cement manufacturing, transforming itself from a contractor into a diversified conglomerate.
This growth was not simply about scaling operations — it was about instilling a corporate DNA built on innovation, integrity and a commitment to nation-building.
The 1990s brought a turning point. After its listing on Bursa Malaysia, YTL entered the history books in 1993 as Malaysia's first independent power producer, winning a landmark 21-year concession during an energy crisis. This bold entry into the utilities sector provided the company with a stable income base and became the springboard for global expansion.
One of the most defining milestones came in 2002, when YTL acquired Wessex Water in the United Kingdom, making it the first Malaysian company to own a UK water utility. This acquisition not only extended YTL's reach but also showcased Malaysian corporate ambition on the international stage.
Meanwhile, YTL Hotels steadily expanded in the 2000s, curating a portfolio of luxury resorts and boutique hotels from Malaysia to Japan and the UK to France.
At home, YTL reshaped connectivity by launching Yes 4G in 2010 — Malaysia's first nationwide 4G network. As executive chairman Tan Sri Francis Yeoh put it: "Connectivity is nation-building. Just as roads and bridges connect communities physically, digital networks connect people to opportunity."
The 2010s saw YTL double down on sustainability and digitalisation. Guided by Francis' philosophy of "ethical capitalism"— balancing profit with responsibility — the group championed green infrastructure, eco-friendly resorts, and community education initiatives. In every project, from housing to hospitality, commercial success was tied closely to environmental stewardship and social good.
In 2024, YTL once again made headlines by entering into a strategic partnership with Nvidia, placing Malaysia at the forefront of the artificial intelligence revolution and positioning the nation as a regional hub for digital innovation.
At the heart of it all, YTL has remained a family enterprise. The Yeoh siblings continue to uphold the values of their late father, ensuring that the company's story is one of both heritage and innovation.
Shaping the Future
YTL remains steadfast in its purpose — to build better futures, not only for Malaysia but for the world. From laying the foundations of a young nation to venturing into the frontiers of a digital and sustainable age, its journey stands as a testament that vision, integrity and generational stewardship can shape not only enterprises but entire societies.
As it celebrates its 70th anniversary milestone, YTL is not looking back but boldly moving forward. Anchored by its enduring values, the group is charting a new chapter of growth through YTL Power International Bhd, with transformative investments in renewable energy, smart cities, green data centres and climate-resilient infrastructure.
In his executive chairman's statement in YTL's 2024 annual report, Francis expressed confidence in Malaysia's future, noting that the country's international standing is set to strengthen on the back of a dynamic and resilient economy, driven by technological innovation, diversified growth, and enhanced global connectivity.
"As the country solidifies its position as a key hub for global business, technology ventures and data centres, our group will continue to pursue strategic opportunities correlated to our core competencies whilst remaining committed to the long-term vision that has stood us in good stead, to deliver ongoing value to our shareholders and stakeholders," he said.
On the global stage, YTL's footprint extends far beyond Malaysia. The group has established extensive operations in Singapore and the UK, with businesses, investments and projects underway in Australia, France, Indonesia, Jordan, the Netherlands, Thailand and Vietnam.
The group's strategy is anchored on diversification and expansion — strengthening its revenue base through greenfield developments and strategic acquisitions, particularly in regulated utilities, while advancing its core businesses with a strong emphasis on renewable and sustainable energy solutions.
To support this growth, YTL maintains a balanced financial structure, optimising the use of debt and equity while ensuring a steady supply of internally generated funds and external financing. This disciplined approach enables the group to remain agile, positioning it to seize opportunities and drive long-term value creation.
Staying Focused on CSR
For YTL, business has never been only about profits. From its earliest days, the group has believed that true progress must be shared — measured not just in structures built or markets entered, but in lives touched and the environment preserved. This philosophy underpins its long-standing commitment to corporate social responsibility (CSR), anchored on four pillars: environment, people, community and marketplace.
On the environmental front, YTL is charting a low-carbon path through energy-saving measures, waste heat recovery and clean energy investments. YTL PowerSeraya is building a hydrogen-ready power plant in Singapore and expanding solar capacity, while YTL Cement promotes the circular economy with its Repurposed Concrete Aggregates facility. Conservation efforts extend from mangrove planting in Perak to coral reef restoration in Langkawi and sustainable water management at Wessex Water in the UK. Meanwhile, innovations like ECOConcrete are redefining sustainable building.
At the same time, YTL's social initiatives continue to uplift communities. YTL Foundation drives access to education through scholarships, Learn From Home and the KelasKita online tutoring programme, while creating safe spaces like "Ruang KITA" in Kuala Lumpur. The group also provides disaster relief, festive aid and long-term cultural support as a founding partner of the Kuala Lumpur Performing Arts Centre.
YTL's CSR journey reflects a company that sees itself as more than a business — it is a steward of the environment, of knowledge, of culture, and of community. For YTL, progress is most meaningful when it is shared.
Source: https://www.nst.com.my/business/corporate/2025/09/1283430/ytl-70-years-charting-new-growth-era
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