MONEY MASTER

From AI megaprojects and oversubscribed rights issues to winding-up petitions and delistings, here's your quickfire roundup of Malaysia’s corporate movers: YTL Power’s RM10B AI Mega Move YTL Power International has made a  massive RM10 billion investment into AI and data infrastructure , hosting top-tier GPU chips (including Nvidia’s ultra-fast GB200 Blackwell) in what it claims is  one of the world’s largest data centre parks . The company is urging local firms to  plug into its AI ecosystem  to future-proof their growth. Investor Insight:  YTL Power is aggressively positioning itself as Malaysia’s AI backbone. Watch this space. Binastra Wins RM405M Deal in Bukit Jalil Binastra Corp bagged another  RM405 million residential contract  from Exsim Jalil Link for a 1,004-unit project. Notably, this is a  related party transaction , as its MD and ED hold stakes in Exsim. Timeline:  41 months from project start Project Name:   The Queenswoodz...

TA Securities has urged the Malaysian government to explore the feasibility of establishing a second, larger-capacity renewable energy (RE) interconnection between Peninsular Malaysia and Singapore . This comes as the current 1GW interconnection is rapidly depleting , with only 100MW of capacity remaining for future use, according to the firm. Singapore plans to import up to 6GW of clean electricity over the next decade, and Malaysia’s current interconnection with Singapore reserves half of the capacity for grid balancing, while other portions are allocated for various projects, including Tenaga Nasional Bhd’s export and the Laos-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) . Given Singapore's increasing demand for clean energy , TA Securities sees a second interconnection as essential. The firm also highlighted YTL Power Bhd as a key beneficiary of potential RE exports to Singapore, given its existing operations in the market and a strong balance sheet ...

RHB Research has revised its earnings forecasts for YTL Power International Bhd for the fiscal years 2025 to 2027, cutting projections by 5% to 6% due to the strengthening ringgit against major currencies such as the US dollar , Singapore dollar , and British pound . These currencies are crucial to PowerSeraya and Wessex Water , which are key contributors to YTL Power's income. As a result, RHB has lowered its target price for YTL Power from RM5.94 to RM5.68 , while maintaining its "buy" call . PowerSeraya and Wessex Water accounted for 68% and 23% of YTL Power's total revenue in FY2024, but their income is expected to be impacted by the stronger ringgit. Additionally, YTL Power's exposure to the US dollar will likely increase with the upcoming commercialization of its artificial intelligence data center (AI-DC) . While colocation services revenue will be in both MYR and USD , AI-DC's costs are expected to be largely in USD. RHB maintained a positi...

  Bursa Malaysia advanced at midday, driven by gains in YTL Power and YTL Corp as well as stronger performances in Asian markets following overnight gains on Wall Street. At the lunch break, the FBM KLCI rose 4.26 points, or 0.26%, to 1,644.06, after hitting an intra-morning high of 1,649.87. The market breadth was positive, with 532 gainers outpacing 346 losers, while 412 counters remained unchanged. A total turnover of 1.62 billion shares valued at RM1.34 billion was recorded. Dealers noted that Wall Street's gains had buoyed market sentiment, while investors closely assessed the latest U.S. inflation data and its potential impact on the global interest rate outlook. Hong Leong Investment Bank Research indicated that the FBM KLCI is expected to trade sideways ahead of the upcoming Federal Open Market Committee (FOMC) meeting on September 18. The index is expected to find support at 1,613-1,628, with resistance levels at 1,650-1,660-1,690, reflecting a cautious outlook due ...

  Shares of YTL Power International Bhd continued to decline for the third consecutive day, dropping by as much as 7% to a six-month low of RM3.61 on Thursday, following the news that one of its subsidiaries, YTL Communications Sdn Bhd, was questioned by the Malaysian Anti-Corruption Commission (MACC). Key Highlights: MACC Inquiry Related to 1BestariNet Project : YTL Power confirmed that the MACC had recently requested information from its subsidiary YTL Communications regarding the 1BestariNet project, a contract undertaken for the Ministry of Education in mid-2017. YTL Communications won the project through a tender involving 19 companies, but the contract ended in June 2019, just two years into a planned 15-year agreement. Impact on Stock Performance : YTL Power's share price fell by 28 sen to RM3.61 and was trading at RM3.68, down 21 sen, at 11:20 am on Thursday, with a market capitalization of RM30.41 billion. The decline also pulled down the Bursa Malaysia Utilities Index by ...