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Saturday, April 23, 2011

YTL Corp bullish on growth prospects

SINGAPORE: YTL Corp Bhd sees good growth for the company despite the challenging global economic environment.

"We have just announced profits this year," said YTL Singapore Pte Ltd executive director, Ruth Yeoh Pei Cheen

"It will continue to perform good business," she told Bernama in an interview here recently.

YTL Corp Bhd recently announced a 13.3 per cent growth in revenue to RM8.905 billion for the six months ended Dec 31, 2010 compared with RM7.857 billion in the previous corresponding period ended Dec 31, 2009.

The group’s utilities comprise power generation and transmission in Malaysia, Singapore, Indonesia and Australia, water and sewerage services in the United Kingdom, merchant multi-utility businesses in Singapore and communications in Malaysia.

Yeoh said the company also took to ensuring that all its businesses strived to preserve the environment. The companies have to send the sustainability report every year, she added.

When asked on new projects, the Director of International Real Estate of YTL Singapore, Kemmy Tan said the group was looking to develop its projects in Malaysia.

"We also bought the 460-hectare Niseko Village in Hokaido last year."

YTL Group Managing Director Tan Sri Dr Francis Yeoh Sock Ping had announced YTL's master plan to re-energise the development of Niseko Village in Hokaido.

Targeting affluent individuals, Niseko Village will be transformed into an all-season mountain resort offering exclusive hotels, luxury homes, ski-in ski-out estates and exclusive shopping and dining, all with spectacular views of Mount Yotei (Ezo Fuji, the Mount Fuji of northern Japan).

Tan said the project is being managed by Singapore office.

In time to come, Tan said two projects in Singapore namely Sentosa Cove and the land in Orchard Boulevard will be streamlined into YTL Land.

The Japanese assets were acquired for about US$66 million while the Singapore project cost S$575 million, she disclosed.

The project in Singapore is in the planning stage and the launch could be probably next year.

By Bernama

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