YTL plans more acquisitions, Malaysia

YTL Corp Bhd, the best performer on Malaysia’s benchmark index this year, may buy power, cement or property assets in Asia in the next six months to expand its business in the region, according to managing director Tan Sri Francis Yeoh said.

The utilities and construction group had identified targets and might make a purchase in the second or third quarter, Yeoh, 57, said in an interview on Tuesday, declining to be more specific. The company might boost dividend payouts to the highest level in four years following its takeover of unit YTL Cement Bhd, he said.

“There are some opportunities looming” for acquisitions, Yeoh said. “We’ve got a lot of good things going on. We have RM13bil cash. We can grow organically or we can acquire assets.” (Source: The Star, Malaysia)