Posted by dragon328 > 2023-04-10 17:27 | Report Abuse

@goody99, I also did not know until YTLP announced that they secured financing of RM1.1 billion for the first phase of 48MW green data centre job, then only I realised the huge capex requirement and the subsequent concession earnings it will earn for next 15-20 years.

Initially when the company announced the total capex for the entire green data centre project at Kulai site to be RM15 billion, I was a little sceptical of the amount. But when they secured the financing, it means financial close and the lending banks have done the necessary due diligence on the project and been satisfied with the project return and debt service cover, and confident with project execution by the company. I should have no doubt about this project as the banks are willing to take 80% risk and I have full confidence in the power team on project delivery.

Posted by myloh123 > 2023-04-11 11:13 | Report Abuse

Yes, ocbc n maybank r conservative banks. This is a legacy stock...keep for ur future generation n see it grow leaps n bounds. They nvr fail to pay dividends above 6 % pa too.

Posted by myloh123 > 2023-04-11 11:14 | Report Abuse

I would say better than maybank..no capital appreciation.

Posted by Ran271221 > 2023-04-11 16:17 | Report Abuse

Dulu satu analisis satu stock lebih kurang RM2.10, akhirnya harga tertinggi ialah RM18. Analisis boleh jadi rujukan saja. Sekali dpt peluang ini sudah lumayan.

Posted by myloh123 > 2023-04-11 16:55 | Report Abuse

Yes, i bght 1 stock Sam Engineering, holding for DY...din expect it to shoot up fr rm 8 to rm 20...sold n call it a day...so good...i must thank icon8888...hahaha dunno siapa ??!! But i followed his blog before....ytl power too.

Posted by myloh123 > 2023-04-11 16:57 | Report Abuse

Looking at Ranhill...is this stock worthed investing?

Posted by observatory > 2023-04-14 17:03 | Report Abuse

RHB publishes a report with the title “rise of data centres in ASEAN”.
The report mentions that “Malaysia is seeing a raft of new/emerging DC investments with over 800MW capacity projected to come on stream in phases over the next five years”
Currently TM operates 9 data centers with rated capacity at 46MW. It is adding the tenth with enhanced security. TDC’s data centers are parked under AIMS, located in several countries and slightly more capacities than TM. For context, YTL Power data center will eventually have up to 500MW.
Many other established players are coming to Malaysia too. Just last month it was announced that Amazon AWS will invest up to RM26b by 2037. Yondr Group announced a hyperscale DC of 200MW in JB (SunCon secured its RM1.7b construction contract).
I wonder how much of thee capacities will be eventually realized.

Posted by dragon328 > 2023-04-14 22:58 | Report Abuse

I am not sure of other players, but I am confident that YTLP will be able to secure new data centre jobs to fill up the remaining capacity at its Kulai site to house eventually 500MW in next 1-2 years.

First phase of 48MW will be completed in Q1 2024, then 200MW more by 2025.

Posted by wallstreetrookieNEW > 2023-04-16 00:57 | Report Abuse

Time to take profit in YTL Power

Posted by wallstreetrookieNEW > 2023-04-16 00:58 | Report Abuse

YTL Power is not a major player in local data centre business. The only true industry player is Time Dotcom. YTL Power is a short term SELL

Posted by wallstreetrookieNEW > 2023-04-16 00:58 | Report Abuse

Sold YTLPower call warrants, still holding mother shares. Let's go

Posted by Tibbers > 2023-04-17 11:29 | Report Abuse

1.2 then 1.5 by month of may

Posted by Ran271221 > 2023-04-17 11:36 | Report Abuse

1.4

Posted by goody99 > 2023-04-17 11:43 | Report Abuse

there is a new call warrant -- C24

Posted by xiaochen > 2023-04-17 11:47 | Report Abuse

终于摆脱仙股了。
太感动了。。。虽然还是住高楼。

Posted by xiaochen > 2023-04-17 11:49 | Report Abuse

忍住不卖，一个股也不卖。

Posted by myloh123 > 2023-04-17 12:08 | Report Abuse

Broke rm 1...now 103

Posted by ValueInvestor888 > 2023-04-17 12:24 | Report Abuse

YTL Power has become a growth stock, thanks to its data centre, solar power and Singapore power.

Posted by myloh123 > 2023-04-17 13:47 | Report Abuse

Ytl power is going big in solar power too...its d way to go...look at samaiden...pe ratio is 28x

Posted by kcwong98 > 2023-04-17 14:41 | Report Abuse

If YTLPOWER have 500MW solar power in Kulai in 2025, will that be second largest solar power owner after Cypark? I would be very appreciative if someone could enlightening me. Thank you.

Posted by jeffchan1901 > 2023-04-17 14:54 | Report Abuse

nice .. above 1.xx... who else want sell take profit mother share? ..

Posted by wallstreetrookieNEW > 2023-04-17 15:21 | Report Abuse

Flying as soon as I sold my call warrants haha

Posted by wallstreetrookieNEW > 2023-04-17 15:22 | Report Abuse

Still holding mother shares. Good luck

Posted by wallstreetrookieNEW > 2023-04-17 15:22 | Report Abuse

YTLPower - Bursa large cap stock of the year

Posted by wallstreetrookieNEW > 2023-04-17 15:22 | Report Abuse

Timecom + YTLPower both flying

Posted by wallstreetrookieNEW > 2023-04-17 15:31 | Report Abuse

Let's close at RM1.10

Posted by ValueInvestor888 > 2023-04-17 16:00 | Report Abuse

mkt now starting to give growth stock valuation to YTL Power. Party just started, enjoy the ride. Growth catalyst : 500MW Solar Power Data centre for cloud and Singapore Power business will give them busy for next 5 years at least.

Posted by dragon328 > 2023-04-17 16:40 | Report Abuse

@kcwong98, I do not think Cypark has a large portfolio of solar power assets. I know it has secured some capacity under LSS2 and LSS3, but each tender limited solar capacity to 50MW per player so CYpark may have a max 100MW which none is completed yet.

Furthermore, the secured tariffs under LSS2 and LSS3 were extremely competitive. And solar panel costs shot up after LSS2 tender award so I doubt the winner could make any positive return, at best low single digit IRR.

Posted by kcwong98 > 2023-04-17 18:18 | Report Abuse

Dragon328
Thank you so much. You are always well researched. Xiexieni.

Posted by xiaochen > 2023-04-18 10:20 | Report Abuse

The 45%-owned Jordan plant’s commissioning is now complete, pending final certification.
From latest RHB research.

呵呵，RHB的TP这么快又再次上调。看来来自约旦的惊喜不远了哦。

Posted by nelsonlim > 2023-04-18 12:18 | Report Abuse

O.O

Posted by ValueInvestor888 > 2023-04-18 14:19 | Report Abuse

Hong Leong Investment Bank Report today gives TP 1.50

Posted by ValueInvestor888 > 2023-04-18 14:27 | Report Abuse

not only good capital gain, also can expect 6sen dividend this year, giving yield of about 6%. Very hard to find such a good stock in Bursa.

Posted by dragon328 > 2023-04-18 14:30 | Report Abuse

RHB was quick to raise tp for YTLPower but the revised tp is still far from the intrinsic value in YTLP's various assets.

PowerSeraya is expected to make PBT of S$360-400 million for FY2023 and beyond, with operating cashflows at S$410-450 million a year going forward. At 7% cashflows yield, PowerSeraya is worth S$5.8 - S$6.4 billion. Minus net debt of about S$1.5b, equity value of PowerSeraya is worth S$4.3b - S$4.9 billion or RM14.2b - RM16.2 billion or RM1.75 - RM2.00 per share.

The current market cap of YTLP is lower than the equity value of PowerSeraya, and you get all other assets (Wessex, Jordan, Jawa Power, green data centres, digital bank etc) all for free.

Posted by myloh123 > 2023-04-18 14:42 | Report Abuse

Share price is driven by profitabilty ...not so much on net tangible assets. Now PE is at 5.54...sud b at least PE of 8...so rm 1.50 is abt right in d immediate future.

Posted by Ran271221 > 2023-04-18 14:56 | Report Abuse

RHB ada sebut sustainable profit, macam dalam buku 冷眼 kata melabur RM 5000 saham Public Bank selepas 20 tahun menjadi 2 juta.

Posted by dragon328 > 2023-04-18 15:40 | Report Abuse

Share price is driven by profitability, it is true but not the entiety.

Net assets are important consideration too, as well as operating cash flows.

Take a look at Star Media that has gone up 50% in past 2 weeks. Star Media earnings are weak but has net cash per share of about 48 sen and NTA of about 90 sen with various properties not re-valued for decades. At 32 sen, it was a bargain and I grabbed some.

Posted by dragon328 > 2023-04-18 15:42 | Report Abuse

Another example is Serba Dinamik which reported strong profits in consecutive years before it collapsed. Those were accounting profits that were easy to manipulate, so it is risky to just look at profitability without studying its balance sheet and cashflow statements.

Posted by dragon328 > 2023-04-18 15:50 | Report Abuse

In terms of profitability, YTLPower is trading at very low PER. Net profit is expected to be more than RM900 million for FY2023, and over RM1.2 billion for FY2024, reaching RM1.8 billion in 3-4 years when all projects in hand are fully developed.

So EPS will be 11 sen in FY2023, ~15 sen in FY2024 and >22 sen by FY2027, and PER will be just 10x on FY2023 earnings, dropping to 7x in FY2024 and 5x by FY2027.

Posted by Pinky > 2023-04-18 17:49 | Report Abuse

aiya @dragon328 I holding mother YTL not this powerful YTLPOWR hahaha

But I buy YTL also partly based on your writeups thanks

Posted by dragon328 > 2023-04-18 20:56 | Report Abuse

@Pinky, there are a couple of reasons why you chose YTL instead of YTLPower:

1) YTL owns a majority stake in MCement which will soon report tremendous surge in earnings soon
2) YTL owns many hotel and shopping mall assets which will benefit from economy re-opening
3) YTL owns numerous property and land parcels which may be ready for monetisation, such as some land parcels in Sentul and portions of land in Niseko Japan
4) YTL houses the construction arm of the group which will benefit from a potential revival of HSR project and the huge construction orderbook from green data centre works

The reason why YTLPower share price surges up faster than YTL share price is because YTLP has shown earnings rebound sooner, but as YTLP share price goes up YTL share price will follow at a lag.

If you check back the share price performance of YTL and YTLP in past 10 years, YTL share price used to trade at higher prices than YTLP's when YTL's various assets performed at good times, coupled with the prospect of HSR.

Over longer horizon, the asset classes of YTL such as hotels and resorts will appreciate in value faster than the asset classes of YTLP which are mainly infrastructure type.

Posted by dragon328 > 2023-04-18 21:00 | Report Abuse

Actually if you have spare capital, there is no harm to buy some YTLP shares if it retreats towards RM1.00. You may treat it as a standalone long term investment, rather than a comparison with YTL Corp.

YTLP is suitable for long term holding as it may give dividend yields of over 10% p.a. from as early as 2025, and share price may double or triple up in few years time.

Posted by StartOfTheBull > 2023-04-18 21:17 | Report Abuse

Good writeups and analysis Dragon328. Thank you.
YTL Corporation was occupying just a small office and its business was at a much smaller scale in Jalan Bukit Bintang, Kuala Lumpur during 1980s and the share was merely RM1.00, the same price as Public Bank only RM1.00 at that time.

Posted by myloh123 > 2023-04-18 22:20 | Report Abuse

Txs dragon 328, i agree ytlpower is definitely a legacy stock...just file it away n see it grow. Dun look at short term gain.

Posted by dragon328 > 2023-04-19 08:49 | Report Abuse

@StartOfTheBull, if you check back share price performance of YTL Corp in 1980s, if you had held it for 10-12 years from early 1980s, you would have been rewarded 30 times on your investment, same as the gains you would have gotten from investing in Public Bank then.

Posted by dragon328 > 2023-04-19 08:51 | Report Abuse

@myloh123, same for YTL Corp shares, just hold it for next 2 years and ride on the explosive rally in coming months, or just file it away and look back 10 years later and you may be rewarded 10 times on your investment then

Posted by dragon328 > 2023-04-19 08:52 | Report Abuse

Hong Leong research raised tp for YTLPower to RM1.50 but I do not have access to the research file. i3 did not seem to have published this research article, could anyone please post it if you have it?

Posted by jeffchan1901 > 2023-04-19 09:10 | Report Abuse

somehow got a feeling, they might give shares instead of cash next dividend.. anyone feel the same? seems like every 3 years they give out from treasury shares..

Posted by xiaochen > 2023-04-19 09:25 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/04/19/ytl-power-to-see-solid-earnings-in-fy23

Posted by xiaochen > 2023-04-19 09:26 | Report Abuse

约旦的第一次贡献，应该不远了。