Ranhill Utilities Bhd has signed a MOU with China Energy International Group Co Ltd for the development of a source-to-tap drinking water supply project in Indonesia as well as other projects in South-East Asia
Pursuant to Paragraph 9.19(25) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of YTL Power wishes to announce that the Company has on 1 November 2023 become a substantial shareholder of Ranhill Utilities Berhad (“Ranhill”) following the acquisition by the Company of 243,329,346 ordinary shares representing 18.87% of the issued share capital of Ranhill.
"The entry of a large multinational utility as YTL Power into Ranhill speaks volumes of the value of the latter," MIDF Research said, reaffirming its "buy" calls on Ranhill, with a target price (TP) of 80 sen, and YTL Power, with a TP of RM2.45.
"Our quick channel checks suggest this is a strategic investment decision for YTL Power, as it sees good assets within the Ranhill group, such as its exclusive rights to Johor water supply and Sabah power sector exposure. Ranhill has been building exposure to the renewable energy (RE) sector via its soon-to-be-operationalised 50-megawatt (MW) Large Scale Solar 4 (LSS4) plant, and is actively looking to expand its presence in this space," the local research firm said.
Ytlpower eventually will buy all the stake because of spore big projects , as i said before this stock atleast worth rm 1.20 , but now i wont sell any single ticket because not only spore but they will have mega China projects coming , it worth more than rm 2 .xx !
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hng33
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Posted by hng33 > 2023-10-02 17:01 | Report Abuse
bought ranhill at 61.5sen