YTL POWER INTERNATIONAL BERHAD YTL Power Registers Half-Year Revenue of RM7.8 Billion (US$2.3 Billion) Profit Stands at RM491 Million (US$148 Million) 1-for-20 Share Dividend Declared
YTL Power registered revenue of RM7,751.2 million (US$2,334.7 mn) for the 6 months ended 31 December 2013 compared to RM8,277.7 million (US$2,493.3 mn) for the same period last year, whilst profit for the period stood at RM490.8 million (US$147.8 mn) this year over RM503.8 million (US$151.7 mn) last year.
Better performances in the Group's power generation, water and sewerage and mobile broadband divisions were offset by lower fuel oil trading volumes in the merchant multi-utilities division. The Group's water and sewerage business in the United Kingdom continued to perform well owing to better pricing allowed by the industry's economic regulator, whilst the Yes mobile broadband platform which operates across Malaysia continued to see good growth in subscription levels, further mitigating the division's start-up losses in building the network for scale from the outset.
The Board of Directors of YTL Power declared a distribution of 1 treasury share for every 20 ordinary shares of RM0.50 each held in YTL Power, the book closure and distribution dates for which are 13 March 2014 and 27 March 2014, respectively.
1MBD replaces auditors, gets time extension to submit accounts
......................... On another matter in relation to 1MDB, the Govern-ment said that it had yet to award the 2,000 megawatt coal-fired power plant project called Project 3B.
The Energy, Green Technology and Water Ministry in a statement dismissed talk on 1MDB being awarded the project as “baseless and mere speculation.”
The ministry said the Energy Commission would make an announcement soon on the award. “The process is transparent in line with the competitive bidding system that has been put in place for the bidding of projects by independent power producers, which is to ensure, among others, fairness and competitiveness,” it added.
1MDB is in a neck-and-neck race with YTL Power International Bhd for the rights to build the power plant, with its bid marginally higher at 25.65 sen per kWh as compared with YTL Power’s bid at 25.23 sen per kWh
[The Energy, Green Technology and Water Ministry in a statement dismissed talk on 1MDB being awarded the project as “baseless and mere speculation.”
Is the reported award of a coal-fired power plant to uncompetitive bidder 1Malaysia Development Bhd (1MDB) a "backdoor bailout for the financially-stricken company", asks Petaling Jaya Utara MP Tony Pua.
Citing a report in The Edge Weekly that 1MDB was apparently mired in "multi-billion ringgit loans" from its various high-cost acquisitions, Pua said: "It does not take a financial genius to wonder how 1MDB will be able to repay the principal on these multi-billion ringgit loans."
He asked whether this was the impetus behind the award of Project 3B, a 2,000MW greenfield coal-fired power plant, to 1MDB despite its bid being higher than others, and despite the Energy Commission's technical evaluation committee recommending the YTL Power bid.
'1MDB pursues reckless acquisition strategy'
"Therefore it seems to be the strategy for Prime Minister Najib Abdul Razak's administration to award a new independent power producer (IPP) concession to 1MDB, even if it means higher electricity costs for the man-on-the-street, in order to bailout the debt-stricken company and cover up, to some extent, its massive deficits," he said.
Pua said 1MDB has since 2012 "pursued a reckless acquisition strategy to takeover independent power producers with expiring contracts at very high premiums, financed almost entirely with loans".
These include the acquisition of Tanjong Energy Sdn Bhd for RM8.5 billion, Genting Sanyen for RM2.35 billion and Jimah power plant for RM1.2 billion, all costing a total of RM12.05 billion.
"However, as reported in the latest issue of The Edge Weekly, the cashflow generated by these acquisitions barely covers the annual RM650 million interest expense to finance the loans 1MDB took."
Ministry: Awarding of plant not started yet
Yesterday the Ministry of Energy, Green Technology and Water denied in a statement the award of the coal-fired power plant to 1MDB and it went on to call Pua's earlier statements "baseless and mere speculation".
According to Bernama, the ministry said the awarding of the contract for the plant has not started yet and would be announced "in due course".
"The process is transparent, in line with the competitive bidding system that has been put in place for the bidding of projects by IPPs, which is to ensure, among others, fairness and competitiveness," the Energy Ministry is reported as saying.
It said the plant is expected to start commercial operations on Oct 17, 2017.
Tenaga-China National Machinery Import & Export Corp is one of the five bidders, alongside 1MDB-Mitsui & Co, Formis Resources, YTL Power International and Malakoff Corporation Bhd.
Despite the Energy Ministry's denial of the award to 1MDB, Pua pointed out today that “The Edge clearly has information” to the contrary.
He added: “I am not only ready to be proven wrong, I also hope that I am wrong in thinking that the prime minister will prioritise the bailing out of 1MDB against lower cost of electricity to ordinary Malaysians.:
YTL Communications wins "Best Enterprise Cloud Offering" at the Mobile World Congress 2014 in Barcelona Barcelona, February 26, 2014
YTL Communications was recognised as the "Best Enterprise Cloud", besting other finalists like Ericsson, Indosat, and Telstra at the Mobile World Congress 2014. This accolade comes just four months after clinching the prestigious 2013 Broadband Infovision Award for Best Broadband Cloud.
YTL Communications' effort in connecting 10,000 national schools across Malaysia via Yes 4G Internet integrated with cloud-based Frog learning platform under the 1BestariNet programme has now been globally recognised.
Chief Executive Officer of YTL Communications Wing K. Lee who accepted the award shared, "Ali (Tabassi) and I are honoured to accept the award on behalf of the amazing team of men and women in our organisation. Together with our win at the Broadband World Forum in Amsterdam just four months ago, our vision and hard work in building a national mobile internet infrastructure and to elegantly leverage our Yes ID architecture to layer on top of it the Frog learning cloud complete with content and collaboration services has caught the world's attention. What a great validation!"
Tan Sri Francis Yeoh, Executive Chairman of YTL Communications said, “Once again, I thank our Lord Jesus Christ for the blessings of this important award. The fact that the YTL group continues to win global awards for product and services, year in and year out, speaks volumes about our commitment to all who trust us to improve the quality of their lives. We thank our 12 million customers globally for their continual trust and I am indeed proud of all at YTL who take our commitment to service and product excellence so passionately.”
YTL Communications has also recently received patent grants from Singapore and Korea for the innovative design of the Yes 4G network. The patent covers converged wireless IP network, device independence architecture, single account; multi-access design, and advanced telephony capabilities for both WiMAX & LTE.
The Mobile World Congress is amongst the most significant events in the telecommunications industry and this recognition has yet again put YTL Communications at the forefront in the world stage. This new accolade is a testament to YTL Communications' position as the forerunner in the exciting space of mobile cloud services.
Since the launch of YTL's Yes 4G in late 2010; YTL Communications has been given international recognition for three years in a row. In 2011, YTL Communications picked up the Best New Service Award at the Broadband World Forum in Paris and Most Innovative Service Provider in Asia Pacific at the Frost and Sullivan Asia Pacific Excellence Award in Singapore in 2012. Last year, YTL Communications was awarded the Most Promising Service Provider in Malaysia at the Frost and Sullivan Malaysian Excellence Award and Best Broadband Cloud Award at the Broadband World Forum held in Amsterdam.
YTL Communications continues to work with Google, Intel and many partners to make quality education available to all children in developing countri
YTL POWER INTERNATIONAL BERHAD
ReplyDeleteYTL Power Registers Half-Year Revenue of RM7.8 Billion (US$2.3 Billion)
Profit Stands at RM491 Million (US$148 Million)
1-for-20 Share Dividend Declared
YTL Power registered revenue of RM7,751.2 million (US$2,334.7 mn) for the 6 months ended 31 December 2013 compared to RM8,277.7 million (US$2,493.3 mn) for the same period last year, whilst profit for the period stood at RM490.8 million (US$147.8 mn) this year over RM503.8 million (US$151.7 mn) last year.
Better performances in the Group's power generation, water and sewerage and mobile broadband divisions were offset by lower fuel oil trading volumes in the merchant multi-utilities division. The Group's water and sewerage business in the United Kingdom continued to perform well owing to better pricing allowed by the industry's economic regulator, whilst the Yes mobile broadband platform which operates across Malaysia continued to see good growth in subscription levels, further mitigating the division's start-up losses in building the network for scale from the outset.
The Board of Directors of YTL Power declared a distribution of 1 treasury share for every 20 ordinary shares of RM0.50 each held in YTL Power, the book closure and distribution dates for which are 13 March 2014 and 27 March 2014, respectively.
1MBD replaces auditors, gets time extension to submit accounts
ReplyDelete......................... On another matter in relation to 1MDB, the Govern-ment said that it had yet to award the 2,000 megawatt coal-fired power plant project called Project 3B.
The Energy, Green Technology and Water Ministry in a statement dismissed talk on 1MDB being awarded the project as “baseless and mere speculation.”
The ministry said the Energy Commission would make an announcement soon on the award. “The process is transparent in line with the competitive bidding system that has been put in place for the bidding of projects by independent power producers, which is to ensure, among others, fairness and competitiveness,” it added.
1MDB is in a neck-and-neck race with YTL Power International Bhd for the rights to build the power plant, with its bid marginally higher at 25.65 sen per kWh as compared with YTL Power’s bid at 25.23 sen per kWh
[The Energy, Green Technology and Water Ministry in a statement dismissed talk on 1MDB being awarded the project as “baseless and mere speculation.”
MP: Is 1MDB power award a 'backdoor bailout'?
ReplyDeleteIs the reported award of a coal-fired power plant to uncompetitive bidder 1Malaysia Development Bhd (1MDB) a "backdoor bailout for the financially-stricken company", asks Petaling Jaya Utara MP Tony Pua.
Citing a report in The Edge Weekly that 1MDB was apparently mired in "multi-billion ringgit loans" from its various high-cost acquisitions, Pua said: "It does not take a financial genius to wonder how 1MDB will be able to repay the principal on these multi-billion ringgit loans."
He asked whether this was the impetus behind the award of Project 3B, a 2,000MW greenfield coal-fired power plant, to 1MDB despite its bid being higher than others, and despite the Energy Commission's technical evaluation committee recommending the YTL Power bid.
'1MDB pursues reckless acquisition strategy'
"Therefore it seems to be the strategy for Prime Minister Najib Abdul Razak's administration to award a new independent power producer (IPP) concession to 1MDB, even if it means higher electricity costs for the man-on-the-street, in order to bailout the debt-stricken company and cover up, to some extent, its massive deficits," he said.
Pua said 1MDB has since 2012 "pursued a reckless acquisition strategy to takeover independent power producers with expiring contracts at very high premiums, financed almost entirely with loans".
These include the acquisition of Tanjong Energy Sdn Bhd for RM8.5 billion, Genting Sanyen for RM2.35 billion and Jimah power plant for RM1.2 billion, all costing a total of RM12.05 billion.
"However, as reported in the latest issue of The Edge Weekly, the cashflow generated by these acquisitions barely covers the annual RM650 million interest expense to finance the loans 1MDB took."
Ministry: Awarding of plant not started yet
Yesterday the Ministry of Energy, Green Technology and Water denied in a statement the award of the coal-fired power plant to 1MDB and it went on to call Pua's earlier statements "baseless and mere speculation".
According to Bernama, the ministry said the awarding of the contract for the plant has not started yet and would be announced "in due course".
"The process is transparent, in line with the competitive bidding system that has been put in place for the bidding of projects by IPPs, which is to ensure, among others, fairness and competitiveness," the Energy Ministry is reported as saying.
It said the plant is expected to start commercial operations on Oct 17, 2017.
Tenaga-China National Machinery Import & Export Corp is one of the five bidders, alongside 1MDB-Mitsui & Co, Formis Resources, YTL Power International and Malakoff Corporation Bhd.
Despite the Energy Ministry's denial of the award to 1MDB, Pua pointed out today that “The Edge clearly has information” to the contrary.
He added: “I am not only ready to be proven wrong, I also hope that I am wrong in thinking that the prime minister will prioritise the bailing out of 1MDB against lower cost of electricity to ordinary Malaysians.:
YTL Communications wins "Best Enterprise Cloud Offering" at the Mobile World Congress 2014 in Barcelona
ReplyDeleteBarcelona, February 26, 2014
YTL Communications was recognised as the "Best Enterprise Cloud", besting other finalists like Ericsson, Indosat, and Telstra at the Mobile World Congress 2014. This accolade comes just four months after clinching the prestigious 2013 Broadband Infovision Award for Best Broadband Cloud.
YTL Communications' effort in connecting 10,000 national schools across Malaysia via Yes 4G Internet integrated with cloud-based Frog learning platform under the 1BestariNet programme has now been globally recognised.
Chief Executive Officer of YTL Communications Wing K. Lee who accepted the award shared, "Ali (Tabassi) and I are honoured to accept the award on behalf of the amazing team of men and women in our organisation. Together with our win at the Broadband World Forum in Amsterdam just four months ago, our vision and hard work in building a national mobile internet infrastructure and to elegantly leverage our Yes ID architecture to layer on top of it the Frog learning cloud complete with content and collaboration services has caught the world's attention. What a great validation!"
Tan Sri Francis Yeoh, Executive Chairman of YTL Communications said, “Once again, I thank our Lord Jesus Christ for the blessings of this important award. The fact that the YTL group continues to win global awards for product and services, year in and year out, speaks volumes about our commitment to all who trust us to improve the quality of their lives. We thank our 12 million customers globally for their continual trust and I am indeed proud of all at YTL who take our commitment to service and product excellence so passionately.”
YTL Communications has also recently received patent grants from Singapore and Korea for the innovative design of the Yes 4G network. The patent covers converged wireless IP network, device independence architecture, single account; multi-access design, and advanced telephony capabilities for both WiMAX & LTE.
The Mobile World Congress is amongst the most significant events in the telecommunications industry and this recognition has yet again put YTL Communications at the forefront in the world stage. This new accolade is a testament to YTL Communications' position as the forerunner in the exciting space of mobile cloud services.
Since the launch of YTL's Yes 4G in late 2010; YTL Communications has been given international recognition for three years in a row. In 2011, YTL Communications picked up the Best New Service Award at the Broadband World Forum in Paris and Most Innovative Service Provider in Asia Pacific at the Frost and Sullivan Asia Pacific Excellence Award in Singapore in 2012. Last year, YTL Communications was awarded the Most Promising Service Provider in Malaysia at the Frost and Sullivan Malaysian Excellence Award and Best Broadband Cloud Award at the Broadband World Forum held in Amsterdam.
YTL Communications continues to work with Google, Intel and many partners to make quality education available to all children in developing countri