Posted by cwc1981 > 2022-07-28 16:19 | Report Abuse

No power today

Posted by dragon328 > 2022-07-28 21:04 | Report Abuse

profit taking today after strong gains yesterday. Technical chart already looks good, should retest 0.80 soon

Posted by tonywong8 > 2022-07-28 21:49 | Report Abuse

D328. Thanks.

Posted by cwc1981 > 2022-08-10 17:09 | Report Abuse

Any expectations for end FY result?

Posted by dragon328 > 2022-08-10 19:38 | Report Abuse

No big expectation for the 4th quarter result to avoid disappointment. Wessex earnings should be stable at around RM150m per quarter though at a lower level from 2 years ago, while PowerSeraya may pose positive surprise, I hope.
The fallout of earning contribution from Electranet after disposal should be covered by interest cost savings from the disposal proceeds.

Posted by cwc1981 > 2022-08-11 08:28 | Report Abuse

Thanks

Posted by dragon328 > 2022-08-12 12:58 | Report Abuse

can take a look at other sleepy giants like IGBB

https://klse.i3investor.com/web/blog/detail/dragon328/2022-08-12-story-h1627892545-IGBB_is_an_Awakening_Property_Giant_worth_at_least_RM6_75

Posted by kasinathan > 2022-08-19 11:58 | Report Abuse

To retest 86 cents

Posted by cwc1981 > 2022-08-19 13:35 | Report Abuse

Got reached 86cents?

Posted by dragon328 > 2022-08-20 14:22 | Report Abuse

If YTLPower declared a special dividend at 4th Qtr result announcement, then share price would easily reach RM0.86 but I doubt it. As the company is embarking on various new initiatives such as the green data centre venture, digital bank and 5G expansion, it will need to reserve cash for expanding these new segments.

I think we may have to wait till FY2023 to see higher dividends of 7.0 sen to 10 sen, if Wessex dividends stabilise amidst higher capex, PowerSeraya delivers higher earnings as expected and telco 5G business turns around well.

Posted by tonywong8 > 2022-08-20 16:26 | Report Abuse

D328, Thanks for your comments. We bought Ytlpowr was anticipated that the company will deliver good results in near future. We are looking at 3 cents dividend in coming announcement and hope for 5 cents.

Posted by tonywong8 > 2022-08-20 16:35 | Report Abuse

Hope not to see like last 2 year 4th Qtr results, all losing big money due to taxes.

Posted by cwc1981 > 2022-08-25 12:27 | Report Abuse

Malakoff already above 70cents. When is YTL power turn to breakout?

Posted by cwc1981 > 2022-08-25 18:57 | Report Abuse

Yeah

Posted by observatory > 2022-08-25 20:38 | Report Abuse

Current quarter PBT for Power Seraya is RM191m (vs. RM135m last quarter, and RM27m a year ago)
But PBT for Wessex Water is only RM14m (vs. RM89m last Q, RM91m a year ago). Given quarterly revenue is ~RM1b, the margin seems low. Management attributed to higher operating expenses.
YES continues to be loss making.
Full year dividend is unchanged at 2 + 2.5 = 4.5 sen. At current price dividend yield is 6.25%.

Posted by dragon328 > 2022-08-25 21:43 | Report Abuse

Current quarter PBT for PowerSeraya jumped to RM191m, annualised to RM764m which is well within my earlier projected range of RM530-1,150m for the full year. I hope the current quarter momentum of PowerSeraya can continue into FY2023, if not better.

Posted by dragon328 > 2022-08-25 21:51 | Report Abuse

Wessex profit contribution is a disappointment. The qtrly report blamed it on higher operating costs and higher interest costs. As sensitivity checks, a 1% increase in average interest rates would increase Wessex' interest costs by RM12.8bn x 1% = RM128 million a year or RM32 million a quarter.

That still cannot explain the huge drop in PBT from RM89m to RM14m, unless interest rates have gone up by 2% or more.

Higher operating costs are expected as inflation is high in the UK.

There is mechanism in the water tariffs that adjust for higher interest rates and higher inflation, but will have a lag effect. I think this quarter PBT is exceptionally low and expect earnings to normalise when water tariff adjustments kick in to compensate for higher interest rates and higher inflation.

Posted by dragon328 > 2022-08-25 22:02 | Report Abuse

YES continued making losses, which is a disappointment too. I gathered that YES could have gained ~300k-500k 5G users during the quarter, at average RM15-20 per sim card, it would have generated revenue of RM15-30 million for the quarter which was not significant enough to turn around the telco business segment.

Hence, it will need to work harder to add another 1 million 5G users minimum in order to generate meaningful profits for the telco segment.

Posted by dragon328 > 2022-08-25 22:06 | Report Abuse

As expected, there is no surprise in the final dividend payout. Total 4.5 sen for FY2022 is still decent to yield 6.25%. Operating cashflows before capex for FY2022 amounted to RM1,577 million, we can expect higher for FY2023 hence higher dividends next year.

Posted by yong1985cm > 2022-08-26 10:48 | Report Abuse

any 1 know that what happen to the Tanjung Jati A Coal Fired Power plant project at indonesia, whereby YTL Power investing via its 80% subsi. heard that the project is called off due to environmental issue.

Posted by dragon328 > 2022-08-26 11:46 | Report Abuse

I am not too sure but think YTLPower has written off some development costs related to Tanjung Jati project, as mentioned by RHB Research too.

Tanjung Jati is a huge coal-fired power plant project to be developed under a 30-year Power Purchase Agreement with Indonesian PLN. Aside with environmental issues and lack of financing interests for high carbon projects, the current super high coal prices have made this project not feasible in relation to other renewable projects like geothermal and solar power in Indonesia.

Personally I do not think this project will go ahead.

Posted by yong1985cm > 2022-08-26 15:39 | Report Abuse

how about the Jordan shale oil power plant? commence operations? not a single word mention in this qtr report. thanks.

Posted by xiaochen > 2022-08-26 15:52 | Report Abuse

Our GG debt projections assume that the National Electric Power Company (NEPCO) will incur on average about 0.5% of GDP a year in new guaranteed debt in 2022-2024 to cover its operating deficit, assuming partial impact from the coming on-stream of an expensive new oil shale power purchase agreement.

https://www.zawya.com/en/press-release/companies-news/fitch-affirms-jordan-at-bb-outlook-stable-xg97zxh1

Posted by xiaochen > 2022-08-26 15:57 | Report Abuse

新加坡，一枝独秀
英国，暂时没看头，人民水深火热，太棒的业绩，会引来群殴。
YES，不用看，少亏算赢，以后也不用看，当YES没到。
约旦，隐藏爆发点
数据中心，未来的火车头。
印尼新发电站，可以退出舞台了。

Posted by dragon328 > 2022-08-26 21:20 | Report Abuse

well said @xiaochen

Posted by dragon328 > 2022-08-26 21:25 | Report Abuse

No update on the Jordan project yet pending the arbitration case. Though I think the odds of YTLPower winning the case is very high, but ultimately it comes down to where the pay checks will be.
Due to years of under-investment in local power generation industry, Jordan is facing severe issues of power shortage and needs to rely on expensive imported fuel. The national utility Nepco is not in the best position to take on huge payments for new power generation, though the shale-oil fired power station would be very good for the country as it would use indigenous fuel which is abundant in the country and which cost will not fluctuate with international oil prices.

Posted by dietrichbonhoeffer > 2022-08-29 09:53 | Report Abuse

Analyst have not put in valuation on future GDV value of the UK development in Bristol. The development will increase in units from ~2,500 units to around 6,500 units. https://www.nst.com.my/property/2022/01/760931/ytl-revising-its-plans-brabazon-mixed-use-development-north-bristol

Posted by dragon328 > 2022-08-29 15:31 | Report Abuse

https://klse.i3investor.com/web/blog/detail/dragon328/2022-08-29-story-h1628812225-YTL_Power_4QFY2022_Clear_signs_of_Earnings_Growth_in_Singapore

A brief update on YTLPower quarterly result and key business segments

Posted by dragon328 > 2022-08-29 18:29 | Report Abuse

https://klse.i3investor.com/web/blog/detail/dragon328/2022-08-29-story-h1628813084-YTL_Corp_4QFY2022_Continuous_Improvements_in_Utilities_Hospitality_and_

Posted by ming > 2022-09-07 16:24 | Report Abuse

ada bau~

Posted by ocbc > 2022-09-08 11:27 | Report Abuse

Bau $$ coming?

Posted by Vhydro > 2022-09-09 22:40 | Report Abuse

Yes has just launched wireless fibre 5G, do you think it is attractive?

Posted by xiaochen > 2022-09-10 08:56 | Report Abuse

For me, this brand new plan quite attractive, and im excited especially with its BUNDLE plan.

Good move for YES. Hope this BUNDLE plan can attract both consumer from unifi and also other telco.

Posted by dragon328 > 2022-09-11 20:51 | Report Abuse

What is this wireless fibre 5G plan? How much GB and charge per month?

Posted by xiaochen > 2022-09-12 08:31 | Report Abuse

https://soyacincau.com/2022/09/09/yes-5g-malaysia-first-wireless-5g-broadband-unlimited/

The Yes Wireless Fibre Plan offers unlimited 5G data for RM148/month on a 24-month contract. Although Yes 5G is capable of providing download speeds exceeding 1Gbps for its mobile plans, the wireless broadband offering appears to be speed-capped at 120Mbps on a best-effort basis. If you need to use the plan outside Digital Nasional Berhad’s 5G coverage, there’s also 150GB of 4G LTE data. Also bundled is a 5G router worth RM1,199 that’s capable of connecting up to 32 devices over WiFi.

If you also need connectivity on the go, Yes also has a bundle plan where you can get 120Mbps home wireless broadband plus two additional mobile lines for RM229/month on a 24-month contract. The two supplementary lines are basically Yes Infinite Basic which offers unlimited 4G and 5G data, unlimited domestic calls and 10GB of hotspot quota.

Posted by xiaochen > 2022-09-12 08:33 | Report Abuse

https://www.yes.my/wireless-fibre-5g/

Posted by dragon328 > 2022-09-12 12:04 | Report Abuse

Thanks @xiaochen
This Yes unlimited 5G plan is competitive with TM unifi plan of RM129/month at 100 Mbps and RM168/mth at 300 Mbps. Though claimed to be 300Mbps, very often unifi users can only get 100-200 Mbps on average.

Posted by cwc1981 > 2022-09-21 12:38 | Report Abuse

Like no power

Posted by tonywong8 > 2022-09-25 15:22 | Report Abuse

UK corporation tax rise cancelled, keeping it at 19% for next year 2023. Will credit back the allocation of Rm540.5 M soon.

Posted by tonywong8 > 2022-09-25 15:50 | Report Abuse

Hope to see more profit contribution from Wessax next year onward.

Posted by dragon328 > 2022-09-26 08:42 | Report Abuse

@tonywong8, you are probably right for a tax writeback from Wessex after the tax rise was cancelled.

Posted by dragon328 > 2022-09-26 08:53 | Report Abuse

A total of RM541 million of provision was booked in by YTLPower in Q4FY2021 for re-measurement of deferred tax charges at Wessex Waters after the UK government announced a proposed tax rate hike from 19% to 25% from 1st April 2023. Now that the proposed tax rate hike has been cancelled, YTLPower should be able to write back the bulk if not all of this RM541m provision in its Q1FY2023 or latest Q2FY2023. Anyway this is non-cash item but will increase profits substantially.

Posted by observatory > 2022-09-26 12:02 | Report Abuse

However rising interest rate and the depreciation of British pounds may affect sentiment

Posted by dragon328 > 2022-09-26 17:00 | Report Abuse

No doubt the rising interest rates, high inflation and depreciating pounds will negatively impact Wessex earnings contribution. I am hoping these impacts would be contained by water tariff adjustments from next year and rising contribution from Singapore at strong SGD

Posted by dragon328 > 2022-09-26 17:04 | Report Abuse

More worrying to me is the Russia-Ukraine war that may escalate further in coming months and the never-ending interest rate hikes in the US, such risks are hard to mitigate against at company level. Worst still is we do not know what to expect and what will happen

Posted by observatory > 2022-09-26 22:52 | Report Abuse

I agree. There are few places in stock market to hide from such risks. Prudent asset allocation is absolutely necessary to weather the coming storm.

Posted by dragon328 > 2022-09-27 17:14 | Report Abuse

News today says that there is a 98% chance for a global recession in 2023. Looking at the way things are going, I think very likely the US and Europe will go into a deep recession next year. Companies relying on export markets to the US and Europe will suffer the most, and tech companies will go down into a down cycle as consumer spending gets hit badly as US interest rates are hiked to probably 4.50%-5.00% by next year. Many companies with high debts will go bankrupt.

The only good place to hide is holding more cash to wait for good bargains next year and holding onto quality companies with resilient business models like YTL Power. With strong operating cashflows to support annual dividends of at least 5.0 sen per share, dividend yields may top 7% to give some buffer over rising interest rates / bond yields.

Posted by cwc1981 > 2022-09-28 14:29 | Report Abuse

Unfortunately people more interested in speculating shares.

Posted by tonywong8 > 2022-09-28 14:56 | Report Abuse

Unfortunately, those peoples are most likely lost money in speculating shares. Still stick to dividend stock better

Posted by cwc1981 > 2022-09-28 16:46 | Report Abuse

I fully agreed bro. But not many ppl like dividend stock