On 18 Dec 2024 EPF bought 1,565,900 shares, bringing its total to 412,118,400 shares or 5.019%
So EPF is now back on the radar, above 5%.
EPF had been continuously selling YTLPower up to 2 Jun 2023 when its share dipped below 5% and out of the radar. The price on 2 Jun 2023 was 72s.
It is clear that EPF is now very under weighted in this Bursa component/utility/tech/data center/AI stock. They need to buy more.😁
(In contrast Foreign funds hold 30% of YTLPower as revealed to me at the last AGM)

OpenAI CFO thinks business users will pay thousands monthly for AI tools
https://theedgemalaysia.com/node/737359

Thank you OTB.
"company has invested over RM20 billion in the AI space to date"
should be phased "company is investing over RM20 billion in the AI space" to be more accurate

Google is a USD2.3trillion company.
So where does google makes its money?
I checked Google's Gemini and asked the same question
The answer is inferior to ChatGPT
That is why Google is scrambling to catch up.
Large language models (LLMs) are machine learning models that can comprehend and generate human language text, instead of just a search.
Maybe you make want to ask for a "Mana ikan asam pedas yang istimewa" recommendation😀
or "Best kereta EV"

"YTL Power said that with Ilmu 1.0, the 500MW green data centre and strategic partenrship with Nvidia, the company has invested over RM20 billion in the AI space to date"
Can someone explain the figure RM20b? It's avery huge number!

So how did YTLPower have it already running so fast?

What computer hardware is needed to run large language model (LLM)
ChatGPT said:
Running a large language model (LLM) like GPT or similar models requires powerful hardware, especially if you're hosting the model for inference or fine-tuning. The hardware requirements depend on the model size, workload, and application. Below is a breakdown of the necessary components:

1. GPU (Graphics Processing Unit)
Primary Role: Accelerating matrix computations and parallel processing, which are critical for LLMs.
Specs to Consider:
Memory (VRAM): At least 24 GB for moderate models like GPT-3 or similar, but larger models may require 40 GB or more. GPUs like the NVIDIA A100 (40/80 GB) or H100 are commonly used for LLMs.
CUDA Cores: Higher CUDA cores mean better parallel processing.
Tensor Cores: Essential for mixed-precision calculations to improve speed and efficiency.
Multi-GPU Setup: Required for large-scale models or fine-tuning. Distributed GPU setups like NVIDIA NVLink enable faster data sharing.
2. CPU (Central Processing Unit)
Primary Role: General-purpose processing, coordinating tasks, and managing data input/output.
Specs to Consider:
High core count (e.g., AMD EPYC or Intel Xeon CPUs) for multi-threading during data preprocessing.
High clock speed for faster task handling.
3. RAM … [I have deleted ... to make it short]
4. Storage …
5. Networking …
6. Power Supply and Cooling …
Example Hardware Setup for LLMs:
Large Models (e.g., GPT-3, BLOOM):
Multi-GPU setup: 4–8 NVIDIA A100 (80 GB) GPUs.
128–256 GB RAM.
2–4 TB NVMe SSD.
High-speed interconnect (InfiniBand).

Ask ChatGPT : How profitable are data centers?
Answer : Colocation Providers: EBITDA margins often range from 35% to 50%, depending on efficiency and scale.
Cloud Service Providers: Margins are higher, typically 50% to 70%, due to value-added services.
No wonder that is a continuous stream of applications / roll-out for data centers, especially with close proximity to Singapore.
The latest in the news. NTT plans 290MW data center campus in Johor, Malaysia
“The company aims to develop six buildings totaling 290MW of capacity at the site. The first 48MW building is due to launch in April 2027”
“NTT Data this week announced its proposed acquisition of a 68.5-acre parcel of land in Gelang Patah, Johor Bahru, for a data center campus”
That means NTT now only is acquiring the land; in contrast YTL Power acquired Kulai Young Estate from BPlant back in early-2022 (when hardly anyone was talking about data centers)
Hence I believe YTLPower being an early player have a head-start advantage.
Only YTLPower is a direct proxy for the data center business on Bursa; Tenaga, property companies, construction firms are only indirectly involved, but have also spiked handsomely.
Ask ChatGPT why IT companies are given a higher valuation on the stock market
Many IT companies have higher price-to-earnings (P/E) ratios because investors are willing to pay a premium for expected future earnings growth, even if current earnings are modest or negative.
YTLPower PE is still in single digits.
YTLPower may in future be also considered an IT company, besides the steady income of Utilities.

I believe the figures given at the AGM are more accurate than the ones given by the investment banks.
I asked specifically and they replied directly. They probably have backroom people including the secretary/registrar to provide the latest figures.
I have noticed errors made by the investment banks before. At times their total buy sell by foreign funds, local institutions and retail does not add up.
Furthermore past few days the foreign funds net buy figures were not available. Maybe sometime they work, sometime they don't.
So like it or not, foreign funds are a major player determining the direction of the share price at a point in time
But for us it is better we go by the fundamentals. as hinted.

@Dragon
The Foreign shareholding of YTLPower is 30%, YTL is 24% and MCement is 2.9% as at the end of November24
Q Will YTLPower price reach 7 ringgit by the end of 2025?
A Well, all depends on you and the public confidence in the company. I think there is enough research done on our company and the fundamentals. People are beginning to be more aware. As you know our company has the lowest PE of all the top 20 companies. We are in single digits. All the other companies are in double digits, the high twenties or low twenties, whatever you call that. So we have a long way to go.

YTL capitalisation RM24b, YTLPower RM30b
Crazy 99SM got included in FTSE Bursa Index
with a capitalisation of RM21b.
How ridiculous for a company selling retail goods from rented premises, with many competitors such as KKMart, 7Eleven, MrDIY, Giant, Lotus etc. (I believe research gone wrong!)
There are no real PROXY for Data centers/A! in Malaysia except YTL/Power.
Property firms jump because of one off land sales, and construction firms also from one off projects.
But YTL/Power has potential to double its current profits apart from a stable Utilities, once data center profits kick in.

For those who are interested to know the Foreign shareholding of YTL as of end of November, it is 24%.
For YTL Power, it is 30%.
At the earlier YTLPower AGM , I was a bit surprised to hear management comment a bit on the share price.
Normally management will be vague saying things like it depends on supply and demand, etc
So when someone asked if YTLPower will go to RM7,
Datuk Yeoh Seok Hong commented about PE ratio of single digits, compared to the top bursa counters of double digits, some in the lower, some in the upper twenties.
I take it as a hint from him that the YTL counters are undervalued.

I raised the question on what is the present foreign ownership in the company
and the answer was 30%. Wah! Didn't expect so high despite all the recent selling
Love it, hate it, Foreign funds buy, foreign funds sell.
I like the last part when MD was asked if the price will reach RM7
and his answer was we are in single digits; all the other top companies are in double digit high 20s; so "We have a long way to go"👍

Anyone have any idea for to view two AGMs at the same time.
I checked with Tricor, they say use two devices.
I tried just now. It doesn't work!
Gamuda AGM now at 9.30am and YTLPower at 10am

We have attended a site visit to YTLDC in Kulai, Johor, and stay upbeat on its
DC development. YTLDC and AI-DC are expected to be group’s next growth
phase. Development remains on track for DC1-DC3, as per management’s
unchanged guidance. YTL AI Cloud, utilizing NVidia GB200 chipsets, is on
schedule to complete construction (core & shell) in Jan-25, targeted to fit in IT
equipment within 2-3 months, and commissioning in Apr-25. There will be no
overheating issue, as YTLDC will be utilizing Direct-To-Chip cooling system. We
reiterate our BUY recommendation on YTLP with an unchanged TP of RM7.00
based on 10% discount to FD SOP (RM7.73).
Above is the Summary. The beauty is that they have done the site visit and been briefed the latest.
No wonder the share price is shooting up.
But if want to read more, you can always pm Dragon

Against a backdrop of net overall selling by Foreign funds of 415m

Yesterday was a huge day indeed!
YTLPower was Foreign fund's top buy at 33m, while local institutions bought around 29m of YTLPower and 20m of YTL.
Local retailers sold 19m YTLPower and 14m YTL
Today hope to see further confirmation that the falling knife has hit the floor😀

Yesterday's trading was heavy, so we need to know who is buying and who is selling.
Foreign funds net buy YTLPower was only 6m (8th position after INH, KPJ, Gamuda, Harta, Itmax, PetDag, GENM)
Possibly, individual foreign funds changing hands among themselves.
On the other hand, Local retail sold YTL 7m (1st position) and YTLPower 5m (4th position)
Let's see what happens today, looking out for confirmation I think. Chartist please do share. Tq

@TradeBursaForALiving From my remisier in HLIB
Lately YTL and Power mainly not in the top 10 sell. Hope their selling tapering off.
Maybe some foreign funds selling while some foreign funds buying, so cancelled off.
But obviously those who are selling are taking rich gains from shares bought cheap last year.
If you ask me why EPF sold like crazy at 50-60s last year, my guess is their cost is even lower,
and they think they can make more in the US market.
Alternately foreign funds are waiting for the quarterly results to come out in the next few days.

In today's NYT article .... this paragraph ....
A 15-minute drive away, another dusty construction site looked out of place surrounded by palm trees. It’s the location of a large Nvidia data center that is part of a $4.3 billion partnership with YTL Power International, an energy subsidiary of one of Malaysia’s biggest conglomerates.
Note NYT call it "Nvidia data center"😀

Same old thing!
Every time YTL and YTLPower are down, it is because of Foreign selling!
Yesterday they sold YTLPower (16m)
I presume it is the same today.
Still too much profit to take I think
So not sure when the falling knife is gonna hit the cement floor with a thud.😀

Yesterday ......
Foreign net buy was KGB (20m) CIMB (12m) Tanco (10m) MrDIY (5m) YTLPower (4m) YTL (4m)
While Local inst sold both YTLPower and YTL
Hope the reversal stays today.

The Blackwell systems are already started running from last month Oct with “Microsoft becoming first cloud to offer Nvidia Blackwell system”
https://www.datacenterdynamics.com/en/news/microsoft-becomes-first-cloud-to-offer-nvidia-blackwell-system/
If YTL is the first to deploy the Blackwells outside the US, that will really be an eye opener worldwide.
But definitely “YTL will be among the first companies to adopt NVIDIA GB200 NVL72”
“Data centre investment on course, says YTL Power” The Edge Malaysia 12 Nov 2024.
Rest assured …. It’s coming!

Thank you Dragon for doing the investigative work.
I am grateful that the YTL investor relation dept and YTL DC chief took the trouble to answer your queries
Now, this info is being shared among all investors, which include I am sure some analysts may also be following what you write.
“Nvidia sells the whole thing as a complete system”
GB200 NVL72 connects 36 Grace CPUs and 72 Blackwell GPUs in a rack-scale design. The GB200 NVL72 is a liquid-cooled, rack-scale solution that boasts a 72-GPU NVLink domain that acts as a single massive GPU.
So this info tallies with “The IR dept added that YTLP buy the GPUs in cabinet servers so they have no exposure to Super Micro” as written by you.

Date: 2024-11-04
Firm: TA
Stock: YTLPOWR
Price Target: 6.39
Price Call: BUY
Last Price: 3.20
Upside/Downside: +3.19 (99.69%)
...... TA's TP on Nov 4 is for YTLPower to double.
Now with the clarifications given by Yeoh, wonder what the analysts has now got to say ....

No legal action over 1BestariNet amid ongoing talks with YTL, says deputy minister
By Choy Nyen Yiau / theedgemalaysia.com
11 Nov 2024, 12:13 pm
.... nearest hint on where the MACC investigation is going

.....reversed course partly because analysts have flagged the lack of updates from YTL Power’s Johor data centre project... hence the importance of timely disclosures and guidance
Finally Yeoh speaks up...
In his first media interview since the announcement of the US$4.3 billion data centre in December 2023, YTL Power managing director Datuk Seri Yeoh Seok Hong dismisses any uncertainty surrounding its partnership with Nvidia Corp in the project.

In his first media interview since the announcement of the US$4.3 billion data centre in December 2023, YTL Power managing director Datuk Seri Yeoh Seok Hong dismisses any uncertainty surrounding its partnership with Nvidia Corp in the project.
https://theedgemalaysia.com/node/732608
https://www.trendforce.com/news/2024/11/12/news-supermicros-financial-crisis-shifts-malaysias-ytl-group-order-to-taiwanese-firm/
[Dragon .... need you to crunch above two articles for us]

Yesterday, YTL and YTLPower did not appear among the top 10 net buy/sell in both foreign funds and local institutions. Hope this continues and the moving average flattens out

Same old thing!
Foreign funds sold Genting (23m) Tanco (13m) YTLPower (12m ) MISC 9(9m) HLBank (8m) TM (8m) AmBank (7m) YTL (7m) Maybank (6m) PBB (6m)
Not sure how many shares foreign funds still hold and their average price.
Regrettably, the annual report released on 30 Oct doesn't even give the figure.
Must question them why at the next AGM
Also Bursa is doing a lot of damage to our market by flooding the market with new shares
(when our market has not even recovered)

Big drop yesterday after big gain the previous day.
Yesterday, foreign funds biggest net sell… Tenaga 87m, MBB 63m, PBB 45m, IHH 37m, YTL 26m, YTLPower 18m
Local institutions bought YTLPower 17m, while Local retail bought YTL 21m.
Looks like Foreign funds are still taking profit.
Local retail big buyer. Maybe some businessman involved in PMX trip to China knows something big happening, that’s my guess.

Annual reports for YTL and Power out.
Appears good, but awaiting evaluation by Dragon

Yesterday, foreign fund's 3rd top net buy was still YTLPower with 10m

HLG securities

Foreign funds suddenly turn net buyer with 20m YTLPower and 14m YTL

OTB, you bought 26m yesterday ah?😀

I only wish the management would give more timely guidance to help genuine investors.
Anyway the Annual report will be coming out soon.
Hope we can see where we are heading

Let’s check what happened; when there was a big move in price and volume.
And the culprit was ….
Foreign fund top net sell was Tenaga (66m) followed by number two YTLPower (45m)
(while foreign funds top buy was Gamuda (24m) followed by IOIProp (22m) )
So who bought the YTLPower that the foreign funds sold?
Surprisingly, Retail net bought YTLPower (26m)
Who the retailers are I am not sure. But I suspect some big fish in the know
Anyway the knife is still falling and whoever who can catches it at the bottom, I congratulate you.
In the meantime, there will come a point when fundamental take more importance than technical
PE ratio 6 to 8, well below the norm of 15 and 25 for fast growing tech stocks.
YTLPower is partly tech with underlying Utility which are considered the most stable investments

Yesterday, YTLPower dropped to Foreign fund’s 3rd top sell from No 1 (16m)
It was also Local institution’s 3rd top buy (15m)
YTL on the other hand dropped off from both foreign fund and local institution top buy/sell rankings.
On the whole, Foreign fund bought net 226m net on Bursa yesterday
See what you can make out of it.

Yesterday, prices stabilized a bit
YTLPower was Foreign fund’s top net sell counter (53m)
YTLPower was Local institution’s 2nd top buy (32m)
But interstingly, YTL was Local institution top sell (35m)
Retailers (top buy counter) was YTL (32m)
Looks like everyone are rotating their portfolio to suit their needs,
with Foreign funds intermittently taking profit whenever they sees fit,
as many of them bought cheap.

As expected, yesterday big drop in YTL and YTLPower were due to foreign fund selling.
They had been relatively quiet the past 2-3 weeks, with YTL and YTLPower hardly making their top counters.
But yesterday was an exception. YTLPower was their top sell counter (38m) and YTL was their third top sell counter (20m). Foreign funds top buy were Maybank and Gamuda.
On the other hand, local institutions second biggest net buy counter was YTLPower (23m) after PBB.
Local retailers top buy counter was YTL (25m)
Like it or not, foreign funds still hold lots of YTL & YTLPower shares bought cheap from last year and they are still taking profit whenever they sees fit.
But compared to selling of the tech counters, I guess YTL and YTLPower are holding up pretty well
Their PE ratio are now so low, 6 to 8, compare to the tech counters 20-30s.
At some point, YTL and YTLPower will become bargains. So we need to be patient, I guess.

An estimated total of between RM700mil and RM1bil is needed to resolve Internet issues in public universities nationwide, says Datuk Seri Zambry Abd Kadir. [despite having Unifi fibro-optics today]
Today's paper Star https://www.thestar.com.my/news/nation/2024/09/30/taking-ctrl-of-varsity-internet-issues
"There are 92 universities in the country"
But if "Malaysia has 7,723 primary schools" and "around 2,296 secondary schools"
some in the deep jungles of Sarawak and Sabah.
How much money needed ten years ago before Unifi was available?
Whole damn thing is so silly!

It is great news that our Agong is in the picture.
I hope he personally will put equity into the HSR project (to demonstrate confidence in the project)
Also it is in the interest of the China to make it a showcase of their road and belt initiative.
What more as KL-S'pore route is one of the busiest in the world.
Where will Japan be now if they had not built the Shinkansen?
Also see the rapid development taking place in China.
Our economists & analysts all had a narrow mind and only count the dollar and sens and not look at the wider implications of the HSR project.
Our Agong is more visionary.
Hopefully one day we have a HSR stretching from Penang to S'pore, then we have a 'Silicon Peninsula'

For period Sep13 to Sep23 [Source HLIB]
Foreign funds sold net 105m of YTL and 42m of YTLPower
Local institutions bought net 93m of YTL and 33m of YTLPower
Hopefully the foreign funds who had bought cheap will be exhausting their selling.
Some of the local institutions in the know may be buying
if they know some development taking place.

Also despite the heavy sell last Friday, on the whole, Foreign funds still bought a net 61m on Bursa,
Have to watch all this closely. and also the trend of the Ringgit
As long as foreign funds keep net buy ....
.... effect is redistribution/trickling to other counters
One big question is the effect of Wall Street?
I expect the US market will pivot this year.
Will it be eventually good or bad, I don't know.
For a long time, a uptrend US market had been bad for many small markets like Bursa
So will the contrary be expected? Your guess as good as mine. Tq

Yes, agree with Dragon.
Contrary to expectations, foreign funds bought 47m of YTL and 23m of YTLPower
It was some local funds that unloaded 69m of YTL and 45m of YTLPower
(Probably their cost were very low, so they want to lock in their profit)
Last Friday was significant because of the huge volume, top volume counters on Bursa.
Whatever ironically it may be good as the average price will no longer be 50s-60s
so future profit taking will be minimized.
Local retailers bought 14m YTL and 12m YTLPower
but who are local retailers?
They may not be small timers who buy or sell a few lots, but millionaires in the know
playing with their own money.
Up to you to decide to buy, sell or hold. Your choice!

1Bestarinet project was parked under the Comm segment (2011-2019)
To equip all 10,000 primary and secondary national schools across the country with internet (building base stations, communication towers, fiberoptic lines, computers, routers, etc + manpower cost)
Just imagine setting up in rural schools in the middle of nowhere borneo!

I believe the most prominent investment failure of the YTL group of companies is the Communication /Telekom segment. I was curious so I checked up (since many people are insinuating that YTL made a lot of money from 1BestariNet)
YTL Comm for year ended Jun xxxx
2024 (223m) [Only last Q was in the black]
2023 (268m)
2022 (196m)
2021 (191m)
2020 (264m)
2019 (18m)
2018 (91m)
2017 (93m)
2016 (277m)
2015 (239m)
2014 (193m)
2013 (277m)
2012 (307m)
2011 (280m)
2010 (10m)
2019 (Zero m)

Bursa Malaysia's Foreign Shareholdings
https://bursa.listedcompany.com/foreign_shareholding.html
So you see foreign funds are actually under invested in YTL and YTLPower, two component stock

The Forward PE for Magnificent7 stocks are Apple 26.5, Microsoft 25.7, Nvidia 24.1, Amazon 25.4, Alphabet 16.6, Meta 19.2, Tesla 55.4
PE for YTL and YTLPower are 7 and 8. Up to you to believe there is value.
A few days ago I said don’t try to catch a falling knife and let them exhaust their selling.
When to buy, your guess is as good as mine!
But for long term investors, it may be worth holding especially if you bought cheap. Always fall back to fundamentals.
Politically, I think YTL do not like to play politics although they were once labelled as Mahathir crony but incidentally it was Dr M who cancelled the HSR.
We are lucky to have Dragon to help guide us as his research is of much higher quality compared to the usual bank analyst.