cwc1981

NSL Group is also a building material supplier and manufacturer

3 days ago

cwc1981

Can YTL Corp gained market share in Construction Industry through NSL Group like YTL power in Utilities?

3 days ago

cwc1981

Preparing HSR from Singapore side?

3 days ago

dragon328

It looks like a good deal to YTL in the acquisition of NSL Singapore. That will help YTL to expand its cement and precast concrete business markets to Singapore, Dubai and Finland.

The acquisition price is at a discount of about 20% to book value, but there is no info on NSL earnings.

This acquisition will help YTL to bid for construction projects in Singapore, Dubai and UK area. Particularly in the UK, YTL is doing the construction work for Wessex's massive capex programmes of GBP3.5 billion in 2025-2030, as well as Brabazon property projects worth GBP1.3 billion over next few years. These 2 projects will contribute almost RM29 billion of construction order book to YTL Group in the UK alone.

3 days ago

redhotpepper

Nice one @dragon328. Thanks

3 days ago

100Mark

dragon328 is huat during the year of the dragon 😁

3 days ago

beginner888

https://www.nsl.com.sg/investor-relations/5-year-financial-summary

3 days ago

raymondroy

holy cow !!! nsl is a loss making company with S$15.5m loss in 2023 but made profits of 6.4m and 13.9m in 2021 and 2022 respectively. It also has low reserves at S$80m with share cap at S$193m. Reserves have been reducing from 300m in 2020 to 80m in 2023, which is a little alarming, but icing on cake is that it has group net cash holding of S$103m, which is about RM482m, of which ytl paid RM792 for 81% which is RM641m.... thats fin data in a nutshell..... i dont think market will take this lightly...... errrr :-) cheers

3 days ago

cwc1981

If NSL is a super profit company who want to sell? It depends on the new owner how to turn lost into profit making company. Important is the business within the group able to create synergies for the new owner

3 days ago

dragon328

NSL was profitable in 2023 if not for an impairment loss, excluding that NSL made a net profit of S$16 million. And it had a net cash of S$103m, minus out net cash, the net acquisition price of (S$280m - S$103m)= S$177m actually values NSL at just 11x PER.

2 days ago

dragon328

NSL is the leading supplier of precast concrete components in Singapore. The prospects for NSL are bright as there will be mega construction projects taking off in Singapore in near term:
1) Changi Terminal 5 - S$10b
2) Integrated Resorts (Marina Bay Sands and Sentosa) expansion - S$9b
3) Tuas mega port - S$20b
4) MRT projects - S$57b
5) various new data centre work in Singapore and Johor - RM30-40b (YTL Power's data centre jobs alone will contribute over RM20 billion of internal construction orderbook to YTL)

2 days ago

cwc1981

yup @dragon328. with this acquisition definitely will benefits YTL's data center and power plant beside venturing into construction project in Singapore, Dubai

2 days ago

Ravetidus

i think the acquisition will bring synergy to both companies in the long run

2 days ago

dragon328

Unfortunately the market seems to be having the typical sell-on-news attitude without looking at the long term merits and synergies of NSL to YTL group.

Most just focus on short term issues like a headline loss making NSL in 2023 and increased gearing for YTL.

I would look beyond these short term glitches.

2 days ago

cwc1981

Car is the same just see who is the driver. If this is super cash cow company who want to sell? Most important is the new driver able utilise and benefits

2 days ago

Ravetidus

@dragon328, this is normal, some investors have different risk tolerance and might not like the acquisition, so they sell their holdings, it's all good, it is important to note also the PBU business for NSL in Finland is not doing so well, so that might be one of their reasons to sell

2 days ago

Ravetidus

@cwc1981, NSL does seem to be getting ready to sell to potential buyers, in FY2023, they declared huge dividends to shareholders and also spring cleaning (heavy impairments)

2 days ago

cwc1981

@ravetidus I fully agreed with you. Of course whoever want to sell off property definitely will remove all the valuable items in the premises unless the new buyer intent to pay for everything

2 days ago

GungHo123

The NSL acquisition appeared to be another strategic move by the YTL group. Lets see what the IBs assessment later.

2 days ago

Jesse1314

This NSL acquisition for me is like a repeat of MCement...

Lafarge was loss making due to the inefficiency of the entire Lafarge operations...

I had a friend who worked in Lafarge before and shared to me everyday she was asked to analyze how YTLCement at that time was not suffering as they were...

When she got absorbed into YTLCement after the merger, she got the answer. It is cost control... Sometimes companies after operating for too long tend to get into the comfort zone...

2 days ago

paktua73

morning too all ytl readers..
paktua ucapkan jutaan terima kasih..
pada yg sudi make @Dragon328 followers reach 255..
please we need 45 followers more to reach 300 followers..



tut tut
please click at id Dragon328 then click on followers..

2 days ago

dragon328

@Ravetidus, the prefab bathroom unit (PBU) of NSL in Finland may not be doing as well as expected, but still the note says that NSL expanded its Finland capacity from 7,000 units to 10,000 PBUs per annum in 2023. That may be timely to meet internal demands as YTLPower's property unit in the UK is developing the largest township in Brabazon and on track to deliver 6,500 new homes there in next few years. That will add demands for 20,000 PBUs assuming each new home has 3 bathrooms.

2 days ago

dragon328

According to latest data, foreign funds net bought a total of RM12 million worth of YTL shares and RM10 million worth of YTL Power shares yesterday. Local funds also net bought a total of RM15 million worth of YTL Power shares yesterday, hence the rally in share price yesterday.

The past few days of data shows that foreign funds are mixed / divided in YTL and YTL Power, some are taking profits, others are buying. Or some funds take profit on price strength and buy back on price weakness.

As YTL Power is very cheap at 11x PER for a large utility and AI play, despite the 7x increase in share price in one year, it makes the decision to buy or to take profit on YTL Power rather difficult to fund managers. Hence I do not expect foreign funds selling on YTL and YTL Power to be significant in next few months, after trimming more than half of their holdings in May and June 2024.

2 days ago

cwc1981

https://www.freemalaysiatoday.com/category/business/2024/07/24/analyst-upbeat-on-ytl-corp-amid-nsl-acquisition/

2 days ago

cwc1981

TP RM4.19

2 days ago

dragon328

Dear paktua73, thank you so much for your effort to promote my blog and to get so many new followers, but I see that many of my posts now in YTL and YTL Power forum get to stay and have not been removed since yesterday, and I don't aim to be having the most followers in i3.

But I will keep fighting the naysayers who got my posts removed, by continuously posting impartial comments on the stocks I cover. Only if my posts get removed again, then fellow investors may pm me for any info you require.

Thank you

2 days ago

cwc1981

Really strange @dragon328. You been posting about corp and power since the price are at 50 cents and 60 cents. You are not like those just appear recently why post get remove?

2 days ago

paktua73

you're welcomed dear Dragon 328..
we all got big benefits form your hard working deliver all good article..
this small things can paktua can do for you..
we all in i3 forums mostly need kind of person like you..



tut tut
hanya mampu brimg Small thing to good person

2 days ago

redhotpepper

Heading south again, cheap sale now

2 days ago

dragon328

@cwc1981, according to some veteran forumer in i3, I have been seen as over-promoting YTL and YTL Power, which have made certain parties unhappy. They may have shorted these counters or want to buy at lower prices.

So going forward, I cannot be seen as purely promoting certain stocks, but will post some negative comments to give a more balanced view on the companies I cover. I think it is also good for fellow investors who can then make own assessment of the risks and rewards of investing in the recommended counters.

2 days ago

victoryck

Always love reading your shares. Thank you, dragon328.

2 days ago

Sunshine88

Thank you so much to dragon328

2 days ago

paktua73

morning too all ytl readers..

thanks too all ytl,ytlpowr,ioipg,,Ranhill readers..
Right now Dragon328 be..
2nd rank have highers follower's in i3 forum.

thanks all readers..
make Dragon328 followers increase to 291..
left only 9 members to reach 300 follower's..
let make dragon328 reach 300 follower's..
(updated)

please all readers who get benefits from Dragon 328..
use our power..

if any spammer appear..
let we flag them with
click on their id name n click at Report Abuse on each their post..
let defend on good deed like dragon328 & too all good person who delivers good article in i3 forum..

tut tut
please be Dragon328 followers..click at id Dragon328 then click on followers

2 days ago

surefatt6182

Always love reading your shares. Thank you, dragon328.

Roger PTua - R A sure.

1 day ago

facsc118

manage to get 3.51

and sold back 3.53

1 day ago

Ravetidus

@facsc118, congrats, ada untung banyak?

1 day ago

facsc118

bought in 250 lot only tak banyak can have a good lunch

1 day ago

cwc1981

Holding quite strong today

1 day ago

forest18

Some research and target price from MIDF dated yesterday

https://www.midf.com.my/sites/corporate/files/2024-07/ytl_corp-cu-acquiring_sgx-listed_nsl_ltd-midf-240724.pdf

1 day ago

dragon328

"We are also maintaining our BUY recommendation onYTL Corp, based on our SOP derived TP of RM4.19. Our TP implies 18.1x FY25F PER, which is still below YTL’s 10-year
historical mean PER. We continue to like YTL as a beneficiary of the infrastructure upcycle given its dominant share of domestic cement supply; its strategic venture into data centers and renewable energy via its utilities division. We view the proposed acquisition of NSL as a positive one for YTL."

A good straightforward comment from MIDF on YTL Cement's acquisition on NSL.

Thanks forest18 for the link.

1 day ago

raymondroy

Wowzie the MIDF PBT forecast are as follows....
2023A : 2,667m; 2024F : 5,448m : 2025F : 5,493m .....
EPS(sen) : 9,8, 19.9, 20.1
PERx : 37x, 18x, 18x

Is this for real? >100% growth in PAT :-) too good to be true.... well, will find out by end of Aug *fingers crossed*

1 day ago

dragon328

Foreign funds net sold a total of RM7 million worth of YTL shares yesterday with no notable selling on YTL Power. Local funds net bought a total of RM8 million worth of YTL shares yesterday, more than enough to offset the selling of foreign funds.

1 day ago

dragon328

@raymondroy, YTL has already registered net profit of RM1.56 billion for the 9 months to 31 Mar 2024, up 210% y-on-y. PBT amounted to RM3.57 billion for the 9 months.

I am not sure if YTL full year PBT can hit MIDF's projection of RM5.448b, but I expect the net profit to hit RM2.0 billion for FY2024, a record year and up 200% y-on-y.

1 day ago

cwc1981

The acquisition come timely as it provide some cushion for YTL Corp. As YTL power is dragged by tech setback

1 day ago

100Mark

YTL bypasses YTL Power 😁

1 day ago

PalaniR

Synergistic benefits for YTL from NSL stake buy

https://www.thestar.com.my/business/business-news/2024/07/25/synergistic-benefits-for-ytl-from-nsl-stake-buy

1 day ago

raymondroy

@dragon328..... thx for the feedback but a little correction on the PAT of RM1.56b that you mentioned..... summary again for YTD 9 mths
PBT : 3.57b against FY23 full year 2.67b so thats 134%
PAT : 2.80b against FY23 full year 2.05b so thats 137%

Assuming Q4 ytl achieves the same PBT and PAT as in Q3 the
PBT : FY24 against FY23 full year both the increase is 174%
PAT : FY24 against FY23 full year both the increase is 177%

PBT and PAT in Q3 was 1,079b and 0.832b..... it will be monumental task to achieve more than this in Q4 :-) but one will never know, especially if there is an upside from ytlc but overall full year 200% increase in PBT with what MIDF says..... MIDF is smoking some special dope LOL

1 day ago

MOBAjobg

@100Mark
You’ve noticed it, also.

Ouch, I’d exited all of my YTL shares for YTLp a couple of months ago. OMG !

1 day ago

raymondroy

@MOBAjobg .... not to worry, as from a PER multiple, ytlp 11x is still lagging behind ytl 19x ...... so theoretically there is more room for ytlp, nevertheless it will be wise to diversify both sides.... as any plus factor at ytlp is 56% captured at ytl :-) happy hunting

1 day ago

MOBAjobg

@raymondroy
Tenaga’s PE ratio (PER) is in the range of 32x absurdity. Hopeful that YTLp can obtain 15x to 16x PER soon.
I just have to reshuffle or rebalance my stock portfolio to include YTL.

23 hours ago