A civil engineer, Mr Francis Yeoh took over the running of YTL in 1978 and grew it into a global conglomerate comprising six listed companies, which will soon be down to five as it is in the midst of privatising YTL Cement through a share swap. They have a combined market capitalisation of more than RM34 billion.

A decade ago, the group was completely reliant on its Malaysian business. Today, it derives more than 75 per cent of its revenue from abroad. The plan to hedge the group's business took place steadily and with calculation over a decade.

Mr Yeoh's penchant for scooping up valuable assets in distressed times and turning them into gems in the cash-plump stable is widely known.

Ruth and Joshua are only two of a batch of 27 of the YTL bloodline (YTL stands for Yeoh Tiong Lay - founder of the group and the elder Mr Yeoh's father) pottering about in the many units that represent the smorgasbord of businesses held under the sprawling YTL umbrella which spans Malaysia, Singapore, Indonesia, China, Australia and Britain.

'They belong to the generation that tasted some wealth yet competed for the best universities on their own strength. That's the first test of meritocracy. All 27 of them have not been mollycoddled. That's my greatest joy,' says Mr Yeoh.

The delegation of key tasks is very much a work in progress. In November last year, Ms Kemmy Tan, who joined YTL Group's Singapore property development arm in 2008, was appointed chief executive officer of YTL Land & Development.

In 2009, YTL Communications appointed Wing K. Lee as CEO to oversee the launch of the group's first step into telecommunications: its 4G mobile Internet services with a catchy 'Yes' ring to it.... ›› more

The annual YTL Corporation Berhad Chinese New Year open house is a highlight of the year where the country's leaders, dignitaries, royals, family and friends gather for a day of feasting and fun.

Prime Minister Datuk Seri Najib Tun Razak and his wife Datin Seri Rosmah Mansor as well as Deputy Prime Minister Tan Sri Muhyiddin Yassin and wife Puan Sri Norainee Abdul Rahman graced the open house held at The JW Marriott Hotel, Kuala Lumpur.

They were greeted on arrival by YTL Corporation Berhad managing director Tan Sri Dr Francis Yeoh, and executive chairman Tan Sri Dato Seri Yeoh Tiong Lay.

Also present were Raja of Perlis Tuanku Syed Sirajuddin Putra Jamalullail, Raja Perempuan of Perlis Tuanku Fauziah Tengku Abdul Rashid, Raja Muda of Perlis Tuanku Syed Faizuddin Putra Jamalullail, Muhyiddin and wife, as well as Tourism Minister Datuk Seri Dr Ng Yen Yen and Melaka Yang Dipertua Negeri Tun Mohd Khalil Yaakob.... ›› more

Commenting on the award, James Mcbride, President of YTL Hotels said: "It is indeed a great honour for Shook! Shanghai to have been awarded 'Best Modern Restaurant' at the Modern Weekly 2011 Best Restaurants Awards. Shook!’s distinctive concept in an iconic landmark that is The Swatch Art Peace Hotel, makes for a truly unforgettable dining experience. Its uniquely designed open-kitchen conveys the feel of "dining without borders" – intimate, nothing hidden, open to all."... ›› more

Facebook updates its status – by $100bn - The Independent

The social networking site changed the way we communicate. Now, as it floats on the stock market, all the talk is about how much it is worth. By Stephen Foley... ›› more

No walk in the park - NST

FEBRUARY 1999 and I was the Front Desk manager at a hotel in Kansas City, USA. It was the time of year for USA College Basketball’s Regional Conference Tournaments, and the city was the host city for the “Big 12 Conference” that year.... ›› more

Is China teetering on a property price precipice? - AsiaMoney

All in all it means rising bad debts and dropping asset valuations across the board in China. And that would likely mean a sharp contraction in the country’s GDP growth. Given that the Communist party starts to panic whenever growth looks even like it might dip below 8%, this will be of huge concern.... ›› more