IBLF.org, 21 December 2006
One of Malaysia's largest companies and a leading infrastructure conglomerate, YTL Corporation Berhad, has become a Principal Supporter of IBLF and will be a national champion to help IBLF promote responsible business in Malaysia.
Tan Sri (Dr) Francis Yeoh, Group Managing Director of YTL, will sit on the IBLF International Advisory Board, which is chaired by James Wolfensohn, Former President of the World Bank.
Tan Sri Yeoh said, "It is a rare privilege to sit on this Board together with such luminaries as Wolfensohn and also with John Browne, a champion for the environment.? Most of the financial incentives to prevent further environmental degradation are offered to developing countries and I hope to convince these developing economies that saving the environment is common sense and makes economic sense as well. When God gave us Mother Nature, we are supposed to cherish her, not abuse her."
With sales for the last financial year of US$1.5 billion, YTL serves over 10 million customers in Malaysia, Indonesia, Thailand, Singapore, the UK and Australia. Together with its five subsidiaries, it has a market capitalisation of almost US$7 billion.
The company was founded by Tan Sri (Dr) Francis Yeoh's father in the 1950s and remains 51% family-owned. The company's areas of operation are: utilities, high-speed rail, cement production, construction contracting, property development, hotels and resorts and technology.
YTL has been involved in the Clinton Global Initiative and in September 2006, Tan Sr (Dr) Francis Yeoh spoke on climate change at a global CNBC progaramme in New York together with Professor Jeffery Sachs.
YTL's work to further the sustainable business agenda includes:
YTL's UK operation Wessex Water has been recognised by the water regulator as the most efficient in England and Wales.
In the power sector, YTL Power has worked hard to convince the Malaysian government to use clean fuel like natural gas, instead of abundant use of coal and crude oil.
YTL's property development division has worked to create a balance between nature and development, in order to increase the quality of life for people who buy its properties.
Following the earthquake that hit Yogyakarta in Indonesia in May 2006, together with Jawa Power, YTL's associate company in Indonesia, the company contributed to relief efforts, donating funds to purchase basic necessities, such as rice, baby food, milk, antibiotics, first aid packages, tents and candles.
On the International Advisory Board, Tan Sri (Dr) Francis Yeoh will work alongside James Wolfensohn as well as John Browne, BP Chief Executive, Donald Keough, Chairman of Allen & Company and Mary Robinson, former President of Ireland, to advise IBLF on its international growth and leadership strategy.