YTL / Yeoh Tiong Lay

[winston]

not vested

Morphing into a large cap infra proxy

We reiterate our Add call, raise FY24-26F EPS by 37-58% and lift our TP to RM1.91 (20% discount to SOP).

We believe YTL’s twin growth engines of construction and cement make it a fitting large cap infrastructure proxy for Malaysian infrastructure.

YTL Land said it will step up its launches in Sentul to tie in with MRT 3 rollout.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 5C8DD1AB59

[winston]

not vested

Firing on all cylinders

We reiterate Add, raise FY24F-26F EPS by 14-38% and lift TP to RM2.13.

YTL is balancing dividends, growth opportunities and share buybacks.

We believe the company, an FBM KLCI constituent, is a proxy for Malaysia’s economic recovery.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 51B815AE27

[winston]

not vested

YTL Corp remains undervalued with solid earnings, upside potential — HLIB

By Anis Hazim

HLIB has now revised its fair value on YTL Corp to RM3.33 (from RM2.10).

The median 12-month target price is RM2.87, according to Bloomberg, which indicates a potential 4.7% gain from the current share price.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/709306

[winston]

not vested

YTL Corp’s 9-month net profit surges 186% to RM2.8bil

Source: The Star

https://www.thestar.com.my/business/bus ... e=smartech

[winston]

not vested

Share price direction to mirror YTLP

We raise EPS and lift TP to RM3.88 but downgrade our rating to Hold.

KL-SG HSR is a key catalyst but, with 72% of FY24F pretax profit and 51% of SOP from utilities, we believe share price direction will mirror YTLP for now.

3QFY6/24 results met expectations; we see further improvement for cement

Source: CIMB

https://rfs.cgsi.com/api/download?file= ... 782B3F1AEF

[winston]

not vested

Acquires SGX-listed NSL for IBS expertise

Acquires 81% in SGX-listed NSL for 1x BV and 11x P/E ex-cash for FY23.

Rationale is to gain IBS expertise, which is synergistic with its cement and data centre business, while opening up new markets in Finland and the UAE.

Reiterate Hold and TP of RM3.88 (5% discount to SOP).

Source: CIMB

https://rfs.cgsi.com/api/download?file= ... 3EE62CD0C9

[winston]

vested

4Q, 2024

Rev: -10%; RM 8.3b
EPS: -3%; 4.86; RM 534m

In a filing with Bursa Malaysia on Wednesday, YTL Corp said its construction segment recorded lower revenue in 4QFY2024 due to decrease in work done in respect of construction projects secured from external parties.

The group also saw a decrease in revenue from its cement and building materials segment due to lower sales recorded by its domestic quarry and overseas cement divisions.

Additionally, revenue from its property investment and development division was lower primarily due to the absence of a one-off project revenue in 4QFY2024.

https://www.bursamalaysia.com/market_in ... id=3475380

[winston]

vested

YTL Corp ends FY2024 on positive footing, pays 4.5 sen dividend

By Kang Siew Li

Net profit for its fourth financial quarter ended June 30, 2024 (4QFY2024) slipped 2.5% to RM534.48 million.

Lower earnings per share of 4.86 sen for 4QFY2024

Revenue for the quarter also fell 10.2% to RM8.27 billion

Interim dividend of 4.5 sen per share for the financial year ended June 30, 2024 (FY2024), payable November 29.

FY2024: 95.5% increase in net profit to RM2.14 billion from RM1.1 billion in the previous year, while revenue for FY2024 rose 3.1%.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/723704

[winston]

vested

No More Govt Projects For YTL Under PMX Anwar – YTL Do Not Qualify Johor’s ART & Other PPP Projects

YTL’s bid for Johor’s ART or MyHSR should not be considered, especially with the age old 1Bestarinet controversy is a hot conversation on social media and among the knowledgeable public.

Their takeover of Ranhill should be reviewed by UKAS and government.

Source: The Coverage

https://www.thecoverage.my/6401/no-more ... p-projects

[winston]

vested

1BestariNet certified as successfully completed, says YTL Power

The project, which ended on June 30, 2019, had been certified by the education ministry as having been successfully completed at the end of the contract period.

“The 1BestariNet project was awarded to YTL Communications in 2011 by the education ministry, pursuant to an open tender involving 19 companies that tendered bids for the project.

“YTL Communications was selected for being the most technically compliant and most cost-effective bid,”.

The investigation was focussed on the submission of false claims involving about RM2.7 billion.

Source: FMT

https://www.freemalaysiatoday.com/categ ... ytl-power/