Perhaps Robert Kuok'e empire rule supreme. Perhaps Genting Highland Group is a formidable adversary.
But right there before our very eyes-there is the looming YTL Group helmed by the founder and his financially savvy son.
I was just looking at the reserves and cash in hand of YTL in their latest Annual report 2011 posted on Bursa KL's website this morning.
What I found interesting is that the reserves have been rising rapidly even more dramatic than the current flood waters in Bangkok.
Up to mid-2011,the fixed deposit of YTL has risen by another RM971 million since 2010. Extrapolating forward, before the year is out, additional fixed deposit should have crossed the RM1.2 billion mark by then
Combining deposit and cash in hand and bank balance, the total amount at the disposal of YTL stands close to RM12.24 billion as at mid 2011; and that my friend, is plenty of mucho dinero.
So what does a cash rich company do? Waste it as inflation devour its value? No, besides hedging it against currencies and other investment such as gold , it must do sometime about the cash horde.
As the say, an idle cash horde is a devil's playground and so good old Francis is watching out on how to make more money and more money.
What do you think he can do?
Well, for one-he is waiting for the green-light to build the KL-Singapore high speed train. Then there is always the next phase for his 4G telephony trajectory. As YTL Corp has sold most of its real estate to STAREIT or to YTL Land and Development, it is now a plenary company for strategic takeovers and tactical pursuits.
In the meanwhile,since its Treasury share accumulation is closing to the 7% mark, it may just distribute the shares generously to its loyal shareholders and start accumulating again once they obtain the renewal from its shareholders on 29 November.
The current share price is RM1.50- about the same price when it share split from 1 to 5 shares.
All in all, YTL Corp is proving to be one interesting company to watch.
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