I knew it will happen as YTL Corp kept on buying Treasury shares. So yesterday, they announced a redistribution of the Treasury shares where one share in distributed in specie to shareholders for very 15 units they held. YTL Corp closed up 7 sen at RM1.89 this evening.
A true bonanza and with a discounted sale of YTL Power warrants in its holdings to YTL Corp shareholders.at a steep 53% discount to boot. So, a YTL Corp shareholder can now avail himself to these warrants at only 20 sen each instead of the market price of 43 sen.
YTL Corp has a cash hoard of RM14 billion currently and is apparently looking out for mergers and acquisitions as these are now on offer at more reasonable prices. According to Francis Yeoh there are malls in China and Australia worth looking at. To him, any opportunities with 7-10% yield is worth evaluating for a buy.
At InvestMalaysia yesterday, Francis denied he will sell any of its assets under the Group. No way will he sell Wessex as it is a top world company. Currently, 85% of YTL Corp's revenue and profits are from overseas.
YTL's earnings rose 16.9% to RM364.82 million in the third quarter ended March 31, 2012 from RM312.05 in the preceding year. Revenue rose 23.5% to RM5.24 billion from RM4.24 billion
So, are you buying any more YTL Corp shares to get the 'goodies'?
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