YTL eyes boost in YES subscriber base

From left YTL Communications Chief Executive Officer Wing K Lee, YTL Communications Executive Director Datuk Yeoh Seok Hong, YTL Corporation Berhad Chairman Tan Sri Yeoh Tiong Lay, Minister of Communications and Multimedia, Datuk Seri Panglima Dr Mohd Salleh Keruak, YTL Corporation Berhad Managing Director Tan Sri Francis Yeoh Sock Ping, YTL Communications Executive Director Datuk Yeoh Soo Keng and YTL Communications Deputy Chief Executive Officer Jacob Yeoh looks silhouette during the official launch of the new YES 4G LTE Network at The Majestic Hotel, Kuala Lumpur on June 30, 2016. Photo by Hafzi Mohamed / TMR.

The firm says plans are also underway to expand the YES platform in Sarawak

By FARA AISYAH / Pic By TMR File

YTL Power International Bhd is confident of increasing the subscriber base of its YES mobile broadband network as the rollout of the new 800MHz spectrum will further enhance network coverage and reach, while customers will be able to enjoy better connectivity.

“This — coupled with the availability of devices for this spectrum — will facilitate the marketing of more competitive and affordable products and services to customers.

“Going forward, this business segment is confident of increasing subscriber base,” the company noted in its exchange filing last Friday.

It added that plans are also underway to expand the YES platform in Sarawak.

The company’s mobile broadband network segment achieved an improved performance despite posting a loss of RM8.27 million against a loss of RM17.34 million in the first quarter of the financial year ended Sept 30, 2018 (1QFY18).

YTL Power’s net profit for the quarter, however, slightly decreased to RM126.28 million from RM132.62 million a year ago due to lower contributions from its multi-utilities business (merchant), water and sewerage segment, and investment holding activities.

The company added that its multi utilities business (merchant) recorded a loss of RM15.86 million in the quarter against a profit of RM26.39 million in 1QFY18, mainly due to lower vesting contract level, lower retail non-fuel and tank leasing margin.

Profit for its water and sewerage segment decreased by 9.16% year-on-year (YoY) to RM200.49 million due to the foreign currency translation and higher finance cost.

The company’s investment activities posted a 81% YoY decrease in its profit for the quarter to RM314,000 on the lower share of profits of associates.

Its power generation (contracted) segment recorded a profit of RM14.07 million against a loss of RM18.25 million in 1QFY18 as the Paka Power Plant commenced its short-term capacity generation from Sept 1, 2017.

YTL Power’s revenue for the quarter increased by 8.53% YoY to RM2.8 billion due to higher contribution from most of its business segments.