YTL Corp biggest gainer in early trade

YTL daily chart

PETALING JAYA: Conglomerate YTL Corp Bhd was the biggest gainer of the day in Friday's early trade, its shares rising 22 sen to RM7.68 at 10am, on news that it had RM12bil in cash solely for acquisition purposes.

Following the company's EGM yesterday, managing director Tan Sri Francis Yeoh Sock Ping said YTL Corp was eyeing “sizeable acquisitions” in infrastructure-related businesses, namely in the water, electricity and transportation industries.
At the YTL Corp EGM press conference, Tan Sri Francis Yeoh.

He also said YTL Corp is expecting as much as RM1bil in dividends from its subsidiaries for its current financial year ending June 30, 2011.

source:thestar