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Wednesday, March 31, 2010

YTL confident of higher earnings

DIVERSIFIED group YTL Corp Bhd is optimistic of better years ahead, helped by the recovery of the property market, its wireless broadband business, as well as its other businesses.

"For the full year results (ending June 30 2010), the absolute sum will be double that of our first-half numbers," said group managing director Tan Sri Francis Yeoh on the sidelines of Invest Malaysia in Kuala Lumpur yesterday.

"For the next financial year, it looks like it's getting better and better, driven by various factors ... WiMAX, property ... everything is moving," he added.

YTL Corp posted a net profit of RM423.7 million on revenue of RM7.9 billion for the first half ended December 31 2009.
It also plans to launch its wireless broadband services at the end of this year, which the group has committed to invest RM2.5 billion over the next five years.

Meanwhile, Yeoh said the group will use the US$350 million (RM1.1 billion) raised via a five-year exchangable bonds to build its war chest.

"We always make sure we have a war chest," he said, without giving details on what companies or sectors he is eyeing.

By Business Times

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