We understand that YTLREIT plans to expand its portfolio further via acquisition of assets, particularly hospitality assets from its parent, YTL Corp - potentially within the Europe and South East Asia regions.... ›› more

YTL Corp Executive Chairman, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, said, "The Group saw a 29.3% increase in revenue to RM5.3 billion for the quarter under review, with all business segments turning in better performances. The utilities segment achieved higher revenue from improved sales volumes of fuel oil and electricity, although the significant reduction in vesting contract levels across the industry and losses on sales of fuel oil in the merchant multi utilities division, coupled with the absence of project revenue in the telecommunications segment, resulted in lower profit before tax.

"The increase in revenue in the cement division resulted mainly from the consolidation of Malayan Cement Berhad for a full quarter and higher sales volumes from all other divisions. However, the segment incurred a loss before tax due to higher finance costs. Meanwhile, the significant increase in revenue and profit before tax in the construction segment was due to a substantial increase in construction works.

"The hotels segment continued to perform well, driven mainly by The Westin Perth hotel in Australia and better performance of Star Hill Hotel Sdn Bhd which operates the JW Marriott Hotel Kuala Lumpur following the completion of its refurbishment exercise in June 2019, whilst in the property segment, revenue increased as a result of sales of completed properties of 3 Orchard By-The-Park and The Fennel."... ›› more

YTL Corp Bhd, the biggest Malaysian investor in the United Kingdom, plans to foray into the state's rail industry, said executive chairman Tan Sri Francis Yeoh. Yeoh said the rail sector in the UK is a growing industry and offers a bright future for companies looking for opportunities.... ›› more

A global blockchain-based carbon exchange was launched yesterday, offering a marketplace for airlines and other corporate buyers to trade securitised carbon emissions.... ›› more

Global renewable energy capacity is set to rise by 50 percent in five years’ time, driven by solar photovoltaic (PV) installations on homes, buildings and industry, according to the International Energy Agency (IEA).... ›› more

All due respect to Greta Thunberg, but the corporate-debt time bomb looks like the more imminent threat. The IMF warned that as much as $19 trillion of corporate debt — or nearly 40% of total borrowings by companies in major economies — may be at risk of default in the event of a severe economic slowdown.... ›› more