YTL Corp maintains position as largest listed Non-GLC Company in Malaysia, as listed by MB100
Kuala Lumpur, October 19, 2011
The annual MB100 survey conducted by Malaysian Business Magazine ranks Bursa Malaysia's Top 100 companies by the size of their revenue and is based on the latest published audited/unaudited figures for the financial year 2010/2011. YTL Corporation recorded a revenue of 18.5 billion Malaysian Ringgit or 5.8 billion US Dollars during this period. According to the survey, the top six positions remain unchanged from last year’s list. Government-linked companies (GLCs) continue to dominate the top 10 positions, taking up seven of them. The three private-sector led companies in the Top 10 are YTL Corporation Bhd, subsidiary YTL Power International Bhd, and IOI Corporation Bhd.
YTL Corp maintained its number five spot while its subsidiary YTL Power International Bhd dropped one to number nine. In the past year, one of the most notable highlights from the Group was the launch of its first fully converged mobile network – YES, the Fastest 4G Mobile Internet Service with Voice.
YTL Communications launched its advanced, nationwide and convergent 4G network in November last year. The company achieved a nationwide footprint at launch covering more than 65 per cent of the Malaysian population, using an internet-compatible open platform to enable rapid and continuous innovation, and a cutting edge architecture that brings together mobile broadband, mobile telephony (voice and SMS) and cloud-based services.
The company launched its network in Terengganu recently as part of its effort to make access to its 4G service widespread in the East Coast of Peninsular Malaysia. YTL Communications has also submitted its business plan to Malaysian Communications and Multimedia Commission (MCMC)to secure spectrum licences to roll out its Yes 4G mobile internet-with-voice service in Sabah and Sarawak.
In July 2011, YTL Power International Berhad entered into an agreement with Japan’s Marubeni Corporation, for Marubeni to co-invest in the holding company for YTL Power’s 35% equity investment in PT Jawa Power, which owns a 1220-megawatt power station in Indonesia. This venture forms the basis of a strategic partnership for Marubeni and the YTL Group to cooperate on potential investments and the development of future opportunities in the global utilities industry. The sale was completed in August 2011 and YTL Power’s effective equity interest in Jawa Power is now 20%.
On 29 April 2011, YTL Power International Berhad completed the acquisition of a 30% stake in Enefit Jordan BV, the holding company of two wholly-owned project companies developing an oil shale mining and shale oil production project and an oil-shale fired power project at Attarat Um Ghudran in Jordan. The two projects are currently at a preliminary development stage, including evaluation of oil shale deposits and project agreement discussions with the relevant authorities.
The YTL Group has businesses in geographically diverse places spanning across Asia -Pacific and Europe. YTL's assets include UK water provider Wessex Water, Australian electricity provider ElectraNet and Chinese cement producer Jin Yuan. In Indonesia YTL has invested in Indonesia's second largest independent power producer PT Java Power and in Singapore YTL acquired PowerSeraya the second largest power generation company in Singapore and owns a stake in Jurong Cement, Singapore.
YTL is also involved in residential property development in Malaysia and Singapore while YTL Hotels owns and manages famous luxury resorts and hotels in Japan, France, England, Bali, Thailand and Malaysia.
The YTL Group's portfolio of businesses has grown tremendously over the past year and based on announced results (4Q FY2011) has seen a revenue of over RM18 billion and Net profit (attributable to shareholders) of over RM1 billion.
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