No Gangnam Style for Francis Yeoh and YTL Corp

Turning into a dull warrior

If ever there is a moribund counter on the Bursa KL, of late it must be YTL Corp.

Reason-it is family-centric failing its minority shareholders every which way but win.

Throughout 2012, it swapped papers with a big swap in YTL Cement, converting bonds into paper and ESOS programmes.

Like the perennial East Coast floods, YTL Corp can hardly move an inch.

Lately, EPF has been selling YTL Corp down the river as the company plays catch-up with Treasury buys.

The dividend of 1 sen is also unconvincing to lure in strong volume holders.

Maverick without marvels?

Now, the news is coming from the woodwork that Francis is likely to take YTL Power private.

No cash deal-another paper swap flooding more YTL Corp shares into the market.

Unless magic happens, I do not see any forward march on the counter.