Follow us on Twitter Find us on Facebook

YTL CORPORATION

YTL SUSTAINABILITY

UTILITIES
YTL POWER INT.

CONSTRUCTION
YTL CONSTRUCTION

MANUFACTURING
YTL CEMENT

PROPERTY DEVELOPMENT
YTL LAND & DEV.

REIT
YTL HOSPITALITY REIT
STARHILL GLOBAL REIT

TECHNOLOGY
YTL E-SOLUTIONS

COMMUNICATIONS
YTL COMMS.
YTL BROADBAND

EDUCATION
YTL FOUNDATION
FROGASIA
FROG EDUCATION LIMITED

TRANSPORTATION
EXPRESS RAIL LINK

CARBON CONSULTING
YTL-SV CARBON

ENTERTAINMENT
KL PAC

RESTAURANTS
LOT 10 HUTONG
FEAST VILLAGE
SHOOK! SHANGHAI

SHOPPING
L0T 10 SHOPPING CENTRE
STARHILL GALLERY
WISMA ATRIA
NGEE ANN CITY
RENHE SPRING ZONGBEI
DAVID JONES
MYER CENTRE ADELAIDE
PLAZA ARCADE

HOTELS & RESORTS
YTL HOTELS

ADVOCACY PROJECTS
YTL CCW
EARTH HOUR

REWARDS
YTL PLATINUM PLUS


YTL e-Solutions Bhd: Techie Baby

   
Malaysian Business, April 16th-30th 2002
Stories by Joanna Sze

Despite the tech-bubble burst, YTL chieftain Francis Yeoh is a sworn convert to IT and its potential to add value to the group.

The latest baby in the YTL Group's fold is YTL e-Solutions Bhd, its technology arm. The company will be the first technology incubator and the largest company to be traded on the Mesdaq, which recently merged with the Kuala Lumpur Stock Exchange.

Despite the fact that technology stocks are no longer in vogue, YTL Group managing director Tan Sri Francis Yeoh Sock Ping is a firm believer in YTL e-Solutions' prospects.

His conversion experience? Some years back, at the height of the Nasdaq bubble, while sitting in front of a computer with the Amazon.com website on screen, he was amazed at how easy, quick and convenient it was for him to choose a book, pay for it and have it delivered to his door-step in a packaging of his choice (brown paper or floral prints).

'That stunned me,' he tells Malaysian Business. 'And the next time you click, they say "Welcome Francis Yeoh. The people who bought this book also bought other books like this ..." Isn't that fascinating? That represents forward thinking, preemptive thought.'

Since then, the way Francis and YTL Group viewed business has never been the same. 'That is one single event that brought home to me that customers want old Jurassic companies to service them like Amazon. They like the Amazon service.'

Today, the whole YTL Group runs on technology, and with YTL e-Solutions, most of the technology is developed internally. Thus, its contribution to the group is not just in ringgit and sen.

'It's a powerful technical contribution to our group,' says Francis. 'This section has backed up YTL's capability to do infrastructure business very well. It's a brain asset. It cuts through a lot of archaic thinking. It makes us understand where we can go fastest and how much not to pay for it.'

YTL e-Solutions currently has two incubatees – 70 per cent-owned Extiva Communications Sdn Bhd and 60 per cent-owned PropertyNetAsia (M) Sdn Bhd. Extiva, which develops and markets VoIP (Voice over Internet Protocol) telephony, reported a revenue of RM2.47 million in its first financial year, ended June 30, 2001. For the first six months of FY02, ended Dec 31, 2001, it recorded a pre-tax profit ofRM1.44 million on a turnover of RM4.22 million. PropertyNetAsia, which develops a property portal, has yet to show revenue due to the depressed property market.

YTL e-Solutions provides its incubatees, which have to stay with the company for at least five years, with 'business, entrepreneurial and management guidance, as well as infrastructure, technology, marketing, legal and accounting support.'

Sceptics have pointed out that by listing on the Mesdaq, YTL e-Solutions does not require to show a track record. Francis is unfazed by that. 'We're not a small company seeking big money on Mesdaq; we're a big company seeking small money,' he says. 'We're listing because it's the best way to exponentially multiply our business. How could a company like Extiva be killed because of no track record?'

For FY01 ended June 30, YTL e-Solutions, with a paid-up capital of RM100 million, reported a pre-tax profit of almost RM2 million on a turnover of RM4.4 mil- lion. For the first six months of FY02 ended Dec 31, 2001, it reported an increased pre-tax profit ofRM2.19 million on a turnover of RM5.99 million.

YTL e-Solution's initial public offer is unique in the sense that it is a restricted offer of 34 million RM1 shares at a 10 sen premium to YTL Corp's shareholders and a public issue of one million shares for eligible YTL e-Solutions' employees and directors. Post-listing, the company will boast a paid-up capital of RM135 million.

Unlike other Mesdaq-listed companies, YTL e-Solutions is on a better footing with good management. It is profit-generating and turnover is increasing. It is going for listing under sombre circumstances, unlike others that went public during the tech craze.

Given the current upswing in share prices of Mesdaq companies on the KLSE, YTL Corp shareholders look like they're in for a windfall.




Back
  23 October 2017
5:20:51 PM
Yeoh family donates RM8mil to charity  
 
  24 October 2017
11:37:12 AM
【杨忠礼逝世】3千人出席缅怀  
 
  24 October 2017
11:28:44 AM
达官显要各界好友吊唁 逾千人送别杨忠礼  
 
  23 October 2017
3:25:05 PM
Yeoh Tiong Lay laid to rest; 1,000 mourners attend funeral  
 
  23 October 2017
3:14:46 PM
YTLís family members donate RM8m to 50 organisations, schools and associations in memory of late founder  
 
  23 October 2017
10:48:03 AM
YTL founder Yeoh Tiong Lay laid to rest  
 
  23 October 2017
10:43:47 AM
Final journey for YTL Corp founder Yeoh Tiong Lay  
 
  24 October 2017
1:01:34 PM
【杨忠礼逝世】 杨忠礼对金门有贡献 朱俶贤:受当地人敬佩  
 
  21 October 2017
11:31:40 AM
'Dad was quiet, humble yet had true grit'  
 
  23 October 2017
2:48:18 PM
Official statement by Puan Sri Tan Kai Yong  
 
 
 

Contact Us | Newsletter | Career | Privacy Policy
Twitter | Facebook
 
Terms, Conditions and Disclaimers
Copyright © 2001 - 2017 All rights reserved.
Powered by YTL e-Solutions Bhd.