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Saturday, April 12, 2008

YTL invests in US$5m green fund

YTL Corp Bhd, a well-known advocate of environmental protection, said it will be the main investor of a US$5 million (RM15.75 million) "green investment fund" launched by local fund manager Kumpulan Sentiasa Cemerlang Sdn Bhd (KSC).

The Renewable Energy and Environment Fund (REEF), meant for global investors, will invest in a portfolio of clean technology companies around the world.

"We have no doubt that clean and green technology is set to be the largest economic opportunity we've seen so far this century," managing director Tan Sri Francis Yeoh told reporters yesterday at the launch of the Climate Change Week 2008.

YEOH: Clean and green technology is set to be the largest economic opportunity we've seen so far this century

KSC director Choong Khuat Hock said YTL would take up "quite a large portion" of the fund, the second of its kind to be issued and managed out of Malaysia.

The first such fund, launched last March, was meant for Malaysian investors and posted a 28 per cent return last year, helped by robust market conditions.

"We're targeting a return of 10 per cent to 15 per cent a year for REEF," said Choong.

YTL was also a seed investor in the first fund, known as the Asian Renewable Energy and Environment Fund. It has a value of about RM12 million to RM13 million today.

Yeoh said activities during this year's Climate Change Week, which will be held from April 29 to May 4, will focus on solutions instead of merely highlighting the problems of climate change.

Activities will include a business conference, a youth workshop and free public screenings of "The 11th Hour", an acclaimed climate change documentary narrated by US actor Leonardo DiCaprio.

More information on the week's activities can be found on

By New Straits Times

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