AmInvest Research Reports

YTL Power - Buys land in Kulai for solar project

AmInvest
Publish date: Wed, 29 Sep 2021, 11:09 AM
AmInvest
0 9,055
An official blog in I3investor to publish research reports provided by AmInvest research team.

All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx

Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com

Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Following Message
  • YTL Power’s (YTLP) 70%-owned subsidiary, SIPP Power Sdn Bhd has proposed to acquire 664ha of oil palm estates for RM428.8mil from Boustead Plantations.
  • YTLP intends to develop the land into a large-scale solar power plant with a generation capacity of up to 500MW.
  • The land is located in Kulai, Johor. It is situated about 43km away from Johor Bahru city centre via the Johor Bahru-Kulai–Air Hitam main road or the North South Highway via the Kulai Interchange.
  • The oil palm estates produced FFB amounting to 11,762 tonnes in FY20. Net profit was RM3.9mil in FY20.
  • We are positive on YTLP’s foray into renewable energy. Currently, the group is not involved in any solar or hydro power projects. YTLP’s exposure to coal is via its 20% shareholding in the 1,220MW Jawa Power Plant in Indonesia.
  • YTLP’s acquisition price of RM428.8mil is 9.9% above the professional valuer’s valuation of RM390.0mil or RM5.46/sq ft.
  • We maintain BUY on YTLP with a fair value of RM0.85/share.


 

Source: AmInvest Research - 29 Sept 2021

YTLPOWR (6742)
Related Stocks
More articles on AmInvest Research Reports
Fixed Income & FX Research - 29 Jul 2024

Created by AmInvest | Jul 29, 2024

PLANTATION - News Flow for Week 22 – 26 July

Created by AmInvest | Jul 29, 2024

INFOMINA - Anticipating Stronger FY25F Performance

Created by AmInvest | Jul 29, 2024

WESTPORTS HOLDINGS - Resilient Earnings Amid Congestion

Created by AmInvest | Jul 29, 2024

VITROX CORPORATION - Strong China Orders Offset Lower US Sales

Created by AmInvest | Jul 29, 2024

PLANTATION - Whither the Palm Refining Industry?

Created by AmInvest | Jul 29, 2024

Stock on Radar - Kimlun Corporation

Created by AmInvest | Jul 29, 2024

Stock Idea - SKB Shutters Corporation

Created by AmInvest | Jul 29, 2024

Bursa Malaysia - Strong 2nd Quarter Earnings But Valuation Has Turned Lofty

Created by AmInvest | Jul 26, 2024

IGB REIT - Expect Stronger Bottom Line in 2HFY24

Created by AmInvest | Jul 26, 2024

Discussions
Be the first to like this. Showing 5 of 5 comments

calvintaneng

This shows that already so limited Lands left for palm and yet more are now converted to other usage

more people less land for palm oil can only mean that remaining palm oil land prices can only got higher and higher in years to come

2021-09-29 11:31

yong1985cm

there are so many lands vacant around, y YTL wants to buy palm oil land? he cound buy other vacant land with lower value.

2022-01-07 10:59

stockraider

Plantation land is of course the cheapest mah!

Posted by yong1985cm > Jan 7, 2022 10:59 AM | Report Abuse

there are so many lands vacant around, y YTL wants to buy palm oil land? he cound buy other vacant land with lower value.

2022-01-07 19:17

calvintaneng

YTL POWER SAW THOSE NICE LANDS OF BPLANT WHEN IT BUILT THE DOUBLE TRACK RAILWAY FROM GEMAS TO KEMPAS JOHOR

SO THERE IS SYNERGY

ALL PALM OIL COMPANIES WITH VAST LANDS WILL SEE PRICE RISE AS REPURPOSE OF LAND USE TO SOLAR PANEL, DATA CENTRE & INDUSTRIES WILL INCREASE DEMAND & VALUE

SEE https://www.theedgemarkets.com/article/nod-gemasjb-doubletracking-project-positive-ytl-corp

2022-01-07 19:31

stockraider

By the time q4 result for palmoil Co is out....alot of naysayers will be very jealous loh!

ESG is not a good excuse not to invest loh!

2022-01-10 12:51

Post a Comment