WB reduce to only 157.196Million, YTLP Market Cap increase to 12.31Billion

KUALA LUMPUR: Tenaga Nasional Bhd says the 21-year power purchase agreement with YTL Power Generation Sdn Bhd has expired on Sept 30, 2015.

The power giant said on Monday that following the expiry of the PPA – which was signed on March 31, 1993 -- YTL no longer exports power to the grid effective from Oct 1, 2015.

“Concurrently, a leasing agreement which YTL entered into with Tenaga Nasional to lease the latter’s land in Pakka, Terengganu and Pasir Gudang, Johor to build its power stations was also affected,” said Tenaga.

Tenaga said the PPA was the first PPA signed between Tenaga and an independent power producer and the only PPA that was based on take-or-pay mechanism for 21 years.

The total capacity of the power station in Paka is 780 megawatts (MW), consisting of two blocks of 390MW combined-cycle gas fired generation facility. The capacity of the power station inPasir Gudang is 390MW.

leek: what do you think the rational behind their conversion?

leek: their loan is in foreign currency as well, so it need to re-adjust as well.

Just some thought on the Yeoh's Family move

1. Any other possible rational behind the WB conversion beside the 10 cents dividend?
2. Increase the Yeoh’s family and YTL Corp the shareholding from 63 percent to 65.8 percent, possible corporate exercise?
3. Possible to be include in FBMKLCI with the enlarge capital of 8,062,019,271 shares at Rm1.5 = Market Cap of RM12,093,028,907.00
UMW 8.85B, SKPetro 11.205B

leek: must be cheap la... ozzy to rm. :)

Leek: buy more WB?

TNB buys 1MDB’s stake in Project 3B plant, minister confirms

BY RAM ANAND

Published: 18 June 2015 1:57 PM

Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili has confirmed that Tenaga Nasional Berhad (TNB) will buy 1Malaysia Development Berhad (1MDB)'s stake in the Project 3B coal power plant. – The Malaysian Insider file pic, June 18, 2015. Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili has confirmed that Tenaga Nasional Berhad (TNB) will buy 1Malaysia Development Berhad (1MDB)'s stake in the Project 3B coal power plant. – The Malaysian Insider file pic, June 18, 2015.

Tenaga Nasional Berhad (TNB) will buy over 1Malaysia Development Berhad (1MDB)'s stake in the Project 3B coal power plant, the Energy, Green Technology and Water Minister Datuk Seri Maximus Ongkili confirmed today.

Ongkili told reporters at the Parliament lobby today that TNB is buying over 1MDB's 70% in the project, held through the state investor's energy arm, Edra Global Energy Bhd, for an undisclosed price.

"It's on a willing-buyer-willing-seller basis," he said.

The Cabinet approved the move as the power plant project has been delayed by 1MDB, which faced cash flow problems as it sat on a RM42 billion debt. – June 18, 2015.

1MDB also stated that Edra would focus on its existing power business,

This implies that 1MDB would pursue the controversial 3B power plant project that was awarded to the group last year.

3B consider existing business? or New business? the star writer say existing biz

http://www.thestar.com.my/Business/Business-News/2015/03/05/1MDB-sheds-light/?style=biz

leek: sure bor. Tenaga will not give 3B to YTLP la, maybe JV.

Highlight
Malaysia's 1MDB calls off $2.4 bln sukuk for power project-sources

By Reuters / Reuters | February 7, 2015 : 2:56 PM MYT
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KUALA LUMPUR (Feb 6): Troubled state-owned investment fund 1Malaysia Development Bhd (1MDB) has called off plans to sell up to 8.4 billion ringgit ($2.4 billion) of Islamic bonds, two people familiar with the issue told Reuters on Saturday.

The Islamic bond or sukuk had been earmarked to raise funds for the construction of a $3.6 billion green field 2,000 Megawatt coal-fired power plant, known as 3B, in the state of Negeri Sembilan.

"It (the sukuk issue) has been called off...they are not moving ahead with the exercise anymore," a banker familiar with the deal said, requesting anonymity because he was not authorised to speak to the media.

If the sukuk issue had gone ahead in December, as earlier planned, it would have been the biggest Islamic bond deal of 2014.

The Malaysian fund, which owns 16 power and desalination plants in six countries, has been dogged by controversy over its nearly $12 billion debt pile and criticised for a perceived lack of transparency.

1MDB is also expected to withdraw from the 3B power project, another source familiar with fund's plans said, adding that an announcement would be made soon.

Malaysian media had reported on Saturday that 1MDB may pull out, thereby allowing Malaysia's largest power group Tenaga Nasional Bhd ( Financial Dashboard) to take over the project.

1MDB declined to comment on either its sukuk plans or the power project. A spokesman for Tenaga Nasional said the company was unaware of such reports.

1MDB partnered with Mitsui & Co Ltd to win the bid for Project 3B in February last year, beating YTL Power International ( Financial Dashboard), Tenaga Nasional Bhd and Malakoff Corp Bhd . The greenfield power plant was expected to start operations in 2018 and run for 25 years, but has been hit with delays.

The loss of the power project may further dampen investor interest in 1MDB's planned $3 billion power IPO, which is expected later this year.

The company hired Malaysian investment banker Arul Kanda as its new president last month who has embarked on a strategic review of the firm's operations.

It may also look at selling some property assets as part of its new CEO's plan to overhaul the company, people familiar with the matter said.

leek, how confidence the IPP extension is coming? :)

leek: SBB only back after AGM la.

still uptrend.

It is too late to convert now. the mother share will be adjust 10 cents down after dividend ex on 29-Oct-2014.

Good news or bad news?

http://www.theedgemarkets.com/my/article/francis-yeoh-exercises-ytl-power-warrants

SBB lai liao bor?

no YTLPower?

if you notice yesterday announcement on SBB is the same as on 3-Sep-2014. Most likely an error in the reporting.

what would FY do , declare dividend for this Q4? Cancel treasury share? or both? or both also none?

SELL!!! WB!!! sell it to 30 cents!!!

What are the chances WB reach 30 cents? historical low is 36.5 cents!

BUY!!!! WB

leek, Vietnam is building 8 power plants but it is all Nuclear type. Mainly Russian technology.

leek, any lead?

yes sapu all WB!!!

now 50 cents!!!

Did not see TNB union come out to protest direct deal with TNB!!!

CIMB Research remains positive on YTL Power


KUALA LUMPUR: CIMB Equities Research remains positive on YTL Power's outlook, underpinned by new power plant bids, which could catalyse its stock.

It said on Tuesday newspaper reports suggest that the Johor Sultan-controlled company is seeking a new partner for Track 4A.

It has been speculated that SIPP has made overtures to Malakoff to build and operate the 1,000-1,400MW combined cycle power plant after its original partner, YTL Power, pulled out due to the public backlash pertaining to the matter.

“If the news is true, we think that it does not bode well for YTL Power as it clearly shows that the directly-awarded Track 4A will not be retendered despite its withdrawal,” it said.

CIMB Research said YTL Power pulled out due to the public backlash as a result of the project being directly awarded as opposed to an open tender method.

“As such, we do not think that SIPP will be looking for a new partner for the time being given that the direct award issue still stands and could be subject to more scrutiny,” it said.

The research house also said while the Energy Commission has stated that the status quo remains regarding the project, “we think that it will likely be retendered” to remove the notion of an unfair, privately-negotiated deal between the parties.

Furthermore, Malakoff is currently in the midst of resolving issues affecting its own coal power plant, which gives the impression that it is not in the best position to undertake a new power plant project.

“YTL Power's share price has been dragged down by quite a bit due to this issue with Track 4A. We think that this is an opportunity for investors to accumulate the stock as we remain positive on YTL Power's outlook, underpinned by new power plant bids, which could catalyse its stock,” said the research house.

http://www.thestar.com.my/Business/Investing/2014/07/08/CIMB-Research-remains-positive-on-YTL-Power/

usually EPF buy or sell is Open market.

babu, it is under direct business transaction. will not appear in the trade.

ASB still have 337 Million of YTLP share!!!

KUALA LUMPUR (June 19): The Malay Economic Action Council (MTEM) has called upon the YTL Group and its high-profile managing director Tan Sri Francis Yeoh to “prove their innocence of cronyism”.

Francis Yeoh has come under fire after he said recently Malaysia needed to do away with “crony capitalism” like foreign countries, although Yeoh was himself widely seen as a crony of former Prime Minister Tun Dr Mahathir Mohamad who granted the first IPP concession to YTL.

Yeoh, who two weeks ago denied he was a crony of Mahathir, also faced criticisms from UMNO-owned newspapers and Mahathir himself last week.

At a press conference today, MTEM chief executive officer Mohd Nizam Mahshar pointed out that YTL has benefitted significantly through contracts awarded via direct negotiations with the government since 1955.

Some of the projects named were the IPP (independent power plant) concessions awarded for the Paka and Pasir Gudang Power Stations and the 1BestariNet project.

YTL, which was started by Francis’ grandfather as a small construction contractor getting jobs from the government, has expanded tremendously locally and globally under the leadership of Francis Yeoh in the 1990s.

YTL Corporation now operates in various segments including utilities, construction, IT, hotel, cement manufacturing, and property investment. Its subsidiaries that are listed on Bursa Malaysia include YTL Power International, YTL e-Solutions and YTL Land & Development.

“From MTEM’s side, we ask Yeoh as managing director of YTL Corp to prove their innocence. Prove that they were not cronies,” said Nizam.

MTEM wanted YTL to prove that the contracts won had benefitted the Malaysian people, specifically the Bumiputeras, and whether there are any “wealth sharing prospects” to address the wealth disparity in Malaysia.

When asked whether the government is the sole responsible party to address the issue of wealth disparity, Nizam answered: “No, it is not just the government’s responsibility. This is a job for the government, the private sector and even the civil societies.”

Nizam added that MTEM does not view YTL as the only “felon” in this matter, but said that there are many other Malaysian companies also guilty of the accusations.

However, Nizam declined to name other companies and said that MTEM wanted to focus on YTL for now.

“All these companies, YTL included, benefited in one way or another from the government’s good graces in the past but have yet to repay the favour , and in this case, by addressing income and wealth disparity in Malaysia.

“From our side, we would be happy to host a roundtable session with Francis Yeoh and other companies of similar calibre, to discuss disparity and wealth sharing in Malaysia which MTEM considers a national agenda,” said Nizam.

http://www.theedgemalaysia.com/business-news/295322-highlight-ytl-francis-yeoh-urged-to-prove-innocence-of-cronyism-by-malay-business-ngo.html

SELL SELL SELL!!! Cheap sales!!! SELL

National electricity provider Tenaga Nasional Bhd (TNB) has distanced itself from the controversial multi-billion ringgit Johor power plant Track 4A, amid a backlash against the plant and Tan Sri Francis Yeoh’s (pic) YTL Power International Berhad (YTL) role in it.

“TNB would like to reaffirm that we have not had any prior discussions with any parties regarding the matter. As of now, we can confirm that we only received the offer letter and refute claims or assumptions that we are already part of the consortium.

“We are evaluating the offer and also our role in this project before concluding if it is favourable for TNB to participate by July 25, 2015,” TNB president and CEO Datuk Seri Azman Mohd told reporters.

YTL, the Johor ruler's SIPP Energy Sdn Bhd and TNB have been awarded the Track 4A combined gas cycle project that could generate up to 1,400 megawatt (MW) of power under a controversial directly negotiated deal.

Azman today received a memorandum protesting against YTL and TNB’s role in the power plant from four unions representing the 34,900 members and TNB employees at its headquarters in Kuala Lumpur.


The unions – Persatuan Eksekutif TNB, Kesatuan Pecantuman Pekerja-Pekerja Tenaga Nasional Bhd, Tenaga Nasional Berhad Junior Officers Union and Persatuan Unit Keselamatan TNB – said YTL had caused massive losses to TNB since it signed the power purchase agreement (PPA) in 1993.

“TNB has not received a single benefit since dealing with YTL in 1993. In fact, the first generation PPA with TNB has placed a financial burden on TNB, as it was forced to pay higher costs for energy than it could produce,” the memorandum read.

“Based on the figures and information we received, it is understood that TNB has paid more than RM20 billion to YTL.

“We oppose and urge TNB to reject any conditional offer given by the EC to the YTL, SIPP and TNB consortium to develop the Track 4A project in Pasir Gudang, Johor.”

Azman told reporters that he would take the unions’ grievances into consideration, but added that it was the Energy Commission (EC) and not TNB that decided whether the Track 4A project was awarded to YTL.

“We take seriously the voice of our people (the staff) who expressed their deep concern over the matter.”

Members of the EC have been on the defensive over the award of the Track 4A power plant through direct negotiation, instead of conducting an open tender.

This latest development is because of Yeoh's comments that Malaysia must do away with crony capitalism and take advantage of its ethnic diversity to gain greater economic achievement and compete globally.

TNB Junior Offices Union president Mohd Roszeli Majid said at a press conference earlier today that the union was disgusted by Yeoh’s “insulting comments towards the government”, and noted with irony that YTL had entered into the Track 4A project through direct negotiation just after criticising crony capitalism.

He expressed concern that should this project go on, other IPPs would follow suit and enter into multi-billion power plant deals through direct negotiation.

“If this happens, there will be a domino effect. If YTL starts, other IPPs will follow. So we must quickly put a stop to this,” said Roszeli, adding that this was the first time the unions had ever submitted a memorandum to TNB.

Roszeli said it also wanted TNB to end all deals with YTL as soon as its concessions expired September next year.

“It is befitting for someone who has betrayed the government and ruler to find job opportunities outside this country,” he said.

“It is the first IPP to exist and it is the first contract to expire. We have to make sure YTL is not given any more electricity projects as we have had bad experience with them.”

The Malaysian Insider reported this morning quoted Barisan Nasional (BN) sources as saying that Putrajaya was making overtures to the Johor ruler to find another partner for the project. – June 16, 2014.

http://www.themalaysianinsider.com/malaysia/article/amid-public-backlash-tnb-says-its-not-part-of-johor-power-plant-consortium

Any reason for last Friday huge volume?

http://www.theedgemalaysia.com/business-news/292231-hot-stocks-ytl-aax-padini-fall-after-exclusion-from-shariah-compliant-list.html

Ok. deal!

leek Many thanks. If WB reach 1.60. Will go Ozzy to meet you. hahaha

how you come out with this TP? in how many years?

leek YTLP-WB TP 1.60?

leek Good TP!!!

SBB is back???

Strategy IOI Properties likely to be excluded from FBM KLCI in June review, says RHB Research
Business & Markets 2014
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 28 May 2014 08:35


KUALA LUMPUR (May 28): IOI Properties Group Bhd is likely to be excluded from the FBM KLCI during the semi-annual review of the FBM Index Series that would will be announced on 5 June and changes to the index components will take effect on 23 June, according to RHB Research.

In a strategy note Wednesday, the research house said the replacement candidates included KLCC Stapled Group (Neutral, FV: RM6.96), YTL Power (Neutral, FV: RM1.71) and Bumi Armada (Buy, FV: RM4.54).

RHB Research said IOI Properties was ranked 43rd on the Top 50 stocks list by full market capitalisation.

It said that based on the FBM Index Series ground rules, a security will be removed if its market cap ranking drops to 36th or below, while a security will be inserted into the FBM KLCI at the periodic review if its ranking by full market cap rises to 25th or above.

“There are no non-component stocks ranked 25th or higher.

“Accordingly, we expect IOI Properties to drop out of the index component list,” said the research house.

RHB Research said the stock was only separately included into the FBM KLCI following the company’s demerger from IOI Corporation in January.

It said there were no other component stocks whose market cap ranking was 36th or lower.

The second smallest component stock is UMW Holdings at no. 30, it said.

“While the highest ranked non-component stock is Nestle, it is unlikely to make the cut due to liquidity concerns.

“The next three highest ranked stocks are KLCC Stapled Group, YTL Power and Bumi Armada – all of which are on the Reserve List with an investability weight of 25%, 45% and 46% respectively,” said RHB Research.

http://www.theedgemalaysia.com/business-news/291615-strategy-ioi-properties-likely-to-be-excluded-from-fbm-klci-in-june-review-says-rhb-research-.html