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Buzz over YTL Power’s Wessex Water buy
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Following the announcement about YTL Power winning the bid to buy the British utility company, Wessex Water, here are the exciting headlines hitting the newspapers worldwide.: |
Four firms to carry out RM50b Klang River rehabilitation project
NST Online, 15 March 2010
Wessex Water is a sewage treatment company based in the UK and is owned by YTL Corp Bhd.
Wessex Water managing director Gareth Jones said the status of the Klang River now lies between a critical and bad stage.
"There is a lot of trash that needs to be weeded out but the river can be saved and improved," he said, adding that the company will start work by next year.
£25m water treatment centre opened at Maundown
Somerset County Gazette, 15 October 2009
WESSEX Water’s new £25m treatment works at Maundown, near Wiveliscombe, was officially opened last week. Dato' Yeoh Seok Hong, executive director of YTL, the Malaysian company that owns Wessex, performed the honours and was given a bottled sample of the water by area controller Don Mansell.
YTL Corporation enters the fast growing China water market in a strategic tie-up with Asia Environment Holdings
Kuala Lumpur, 20 June 2008
The collaboration will create a formidable force in the Chinese water industry where RMB1 trillion (RM470 billion) is expected to be spent from 2006-2010 according to the Ministry of Construction in China. China, a fast growing economy with GDP growth in excess of 10% in the past decade, has put tremendous pressure on its water resources. It is estimated that two thirds of Chinese water resources are polluted, a problem exacerbated by low water resources per capita and high water leakages amounting to 28%. The Chinese government is putting greater emphasis on improving water standards in China and has encouraged higher water tariffs as a means of attracting much needed investments in the Chinese water industry.
In the Framework Agreement, Wessex Water Sdn Bhd (Wessex Water), a subsidiary of YTL, will enter into an exclusive technical agreement with AEH to provide technical advisory and consultancy services to AEH on an exclusive basis in China.
AEH has agreed to give YTL a first right of refusal to collaborate in all future water related projects, including equipment manufacture, design, EPC and BOTs in China.
YTL’s Wessex Water wins Queen’s Award for Enterprise
United Kingdom, 23 April 2008
Wessex Water is celebrating being the first UK water company to gain The Queen’s Award for Enterprise in the Sustainable Development category. The water company has received Britain’s most coveted commercial prize in recognition of its approach to working in ways that are environmentally, socially and economically responsible.
YTL's Wessex Water's Number One Hat Trick
United Kingdom, 21 December 2007
YTL's Wessex Water has come out on top for a third time having been confirmed as the number one water and sewerage company in terms of operating efficiency, according to a recent industry report.
CLSA: YTL Power – Powers on
Kuala Lumpur, 19 November 2007
We believe that the market is mis-pricing the value of Wessex Water in YTL Power (YTLP). We estimate Wessex is worth RM2.33/share, contributing 72% of our RNAV-based target price of RM3.24 for the group. Investors buying YTL Power at the current share price just reflects the value of Wessex and they are getting the rest of its independent power producer (IPP) operations for free. We upgrade the stock to BUY from O-PF with a potential upside of 35%.
CIMB: YTL Power International: An undiscovered gem in Wessex Water – 'Outperform', target price RM 3.44
Kuala Lumpur, 29 October 2007
An undiscovered gem in Wessex Water. Reiterate OUTPERFORM but with a higher target price.
Sale of UK water firm sees re-rating of YTL Power
Business Times, 24 October 2007
The acquisition of an English water company at record prices has led analysts to re-rate sharply upwards Malaysian electricity and utilities conglomerate YTL Power International, which owns England's most efficient water firm.
Robust company results for Q2
The Star, 28 August 2007
AMID the muddle and mayhem of sub-prime debts driven from the Wild, Wild West, many companies in the Earthy East, including Malaysia, reported improved productivity and profits last week.
City Interview: Colin Skellett
ThisIsMoney (UK), 13 March 2007
'Climate change is happening and there is a 2% annual growth in demand for water in the UK. But we have to absorb that by being smarter, not by passing on the financial buck to customers. Water is fundamental to the health of people and to the health of the environment. Capital investment by Wessex last year was £180m, with all projects tested against green benchmarks. The additional cash will be used at its Bristol sewage treatment works to double the amount of renewable energy it produces using methane from sludge,' says the chairman and CEO of Wessex Water, Colin Skellett.
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