@TradeBursaForALiving From my remisier in HLIB
Lately YTL and Power mainly not in the top 10 sell. Hope their selling tapering off.
Maybe some foreign funds selling while some foreign funds buying, so cancelled off.
But obviously those who are selling are taking rich gains from shares bought cheap last year.
If you ask me why EPF sold like crazy at 50-60s last year, my guess is their cost is even lower,
and they think they can make more in the US market.
Alternately foreign funds are waiting for the quarterly results to come out in the next few days.

In today's NYT article .... this paragraph ....
A 15-minute drive away, another dusty construction site looked out of place surrounded by palm trees. It’s the location of a large Nvidia data center that is part of a $4.3 billion partnership with YTL Power International, an energy subsidiary of one of Malaysia’s biggest conglomerates.
Note NYT call it "Nvidia data center"😀

Same old thing!
Every time YTL and YTLPower are down, it is because of Foreign selling!
Yesterday they sold YTLPower (16m)
I presume it is the same today.
Still too much profit to take I think
So not sure when the falling knife is gonna hit the cement floor with a thud.😀

Yesterday ......
Foreign net buy was KGB (20m) CIMB (12m) Tanco (10m) MrDIY (5m) YTLPower (4m) YTL (4m)
While Local inst sold both YTLPower and YTL
Hope the reversal stays today.

The Blackwell systems are already started running from last month Oct with “Microsoft becoming first cloud to offer Nvidia Blackwell system”
https://www.datacenterdynamics.com/en/news/microsoft-becomes-first-cloud-to-offer-nvidia-blackwell-system/
If YTL is the first to deploy the Blackwells outside the US, that will really be an eye opener worldwide.
But definitely “YTL will be among the first companies to adopt NVIDIA GB200 NVL72”
“Data centre investment on course, says YTL Power” The Edge Malaysia 12 Nov 2024.
Rest assured …. It’s coming!

Thank you Dragon for doing the investigative work.
I am grateful that the YTL investor relation dept and YTL DC chief took the trouble to answer your queries
Now, this info is being shared among all investors, which include I am sure some analysts may also be following what you write.
“Nvidia sells the whole thing as a complete system”
GB200 NVL72 connects 36 Grace CPUs and 72 Blackwell GPUs in a rack-scale design. The GB200 NVL72 is a liquid-cooled, rack-scale solution that boasts a 72-GPU NVLink domain that acts as a single massive GPU.
So this info tallies with “The IR dept added that YTLP buy the GPUs in cabinet servers so they have no exposure to Super Micro” as written by you.

Date: 2024-11-04
Firm: TA
Stock: YTLPOWR
Price Target: 6.39
Price Call: BUY
Last Price: 3.20
Upside/Downside: +3.19 (99.69%)
...... TA's TP on Nov 4 is for YTLPower to double.
Now with the clarifications given by Yeoh, wonder what the analysts has now got to say ....

No legal action over 1BestariNet amid ongoing talks with YTL, says deputy minister
By Choy Nyen Yiau / theedgemalaysia.com
11 Nov 2024, 12:13 pm
.... nearest hint on where the MACC investigation is going

.....reversed course partly because analysts have flagged the lack of updates from YTL Power’s Johor data centre project... hence the importance of timely disclosures and guidance
Finally Yeoh speaks up...
In his first media interview since the announcement of the US$4.3 billion data centre in December 2023, YTL Power managing director Datuk Seri Yeoh Seok Hong dismisses any uncertainty surrounding its partnership with Nvidia Corp in the project.

In his first media interview since the announcement of the US$4.3 billion data centre in December 2023, YTL Power managing director Datuk Seri Yeoh Seok Hong dismisses any uncertainty surrounding its partnership with Nvidia Corp in the project.
https://theedgemalaysia.com/node/732608
https://www.trendforce.com/news/2024/11/12/news-supermicros-financial-crisis-shifts-malaysias-ytl-group-order-to-taiwanese-firm/
[Dragon .... need you to crunch above two articles for us]

Yesterday, YTL and YTLPower did not appear among the top 10 net buy/sell in both foreign funds and local institutions. Hope this continues and the moving average flattens out

Same old thing!
Foreign funds sold Genting (23m) Tanco (13m) YTLPower (12m ) MISC 9(9m) HLBank (8m) TM (8m) AmBank (7m) YTL (7m) Maybank (6m) PBB (6m)
Not sure how many shares foreign funds still hold and their average price.
Regrettably, the annual report released on 30 Oct doesn't even give the figure.
Must question them why at the next AGM
Also Bursa is doing a lot of damage to our market by flooding the market with new shares
(when our market has not even recovered)

Big drop yesterday after big gain the previous day.
Yesterday, foreign funds biggest net sell… Tenaga 87m, MBB 63m, PBB 45m, IHH 37m, YTL 26m, YTLPower 18m
Local institutions bought YTLPower 17m, while Local retail bought YTL 21m.
Looks like Foreign funds are still taking profit.
Local retail big buyer. Maybe some businessman involved in PMX trip to China knows something big happening, that’s my guess.

Annual reports for YTL and Power out.
Appears good, but awaiting evaluation by Dragon

Yesterday, foreign fund's 3rd top net buy was still YTLPower with 10m

HLG securities

Foreign funds suddenly turn net buyer with 20m YTLPower and 14m YTL

OTB, you bought 26m yesterday ah?😀

I only wish the management would give more timely guidance to help genuine investors.
Anyway the Annual report will be coming out soon.
Hope we can see where we are heading

Let’s check what happened; when there was a big move in price and volume.
And the culprit was ….
Foreign fund top net sell was Tenaga (66m) followed by number two YTLPower (45m)
(while foreign funds top buy was Gamuda (24m) followed by IOIProp (22m) )
So who bought the YTLPower that the foreign funds sold?
Surprisingly, Retail net bought YTLPower (26m)
Who the retailers are I am not sure. But I suspect some big fish in the know
Anyway the knife is still falling and whoever who can catches it at the bottom, I congratulate you.
In the meantime, there will come a point when fundamental take more importance than technical
PE ratio 6 to 8, well below the norm of 15 and 25 for fast growing tech stocks.
YTLPower is partly tech with underlying Utility which are considered the most stable investments

Yesterday, YTLPower dropped to Foreign fund’s 3rd top sell from No 1 (16m)
It was also Local institution’s 3rd top buy (15m)
YTL on the other hand dropped off from both foreign fund and local institution top buy/sell rankings.
On the whole, Foreign fund bought net 226m net on Bursa yesterday
See what you can make out of it.

Yesterday, prices stabilized a bit
YTLPower was Foreign fund’s top net sell counter (53m)
YTLPower was Local institution’s 2nd top buy (32m)
But interstingly, YTL was Local institution top sell (35m)
Retailers (top buy counter) was YTL (32m)
Looks like everyone are rotating their portfolio to suit their needs,
with Foreign funds intermittently taking profit whenever they sees fit,
as many of them bought cheap.

As expected, yesterday big drop in YTL and YTLPower were due to foreign fund selling.
They had been relatively quiet the past 2-3 weeks, with YTL and YTLPower hardly making their top counters.
But yesterday was an exception. YTLPower was their top sell counter (38m) and YTL was their third top sell counter (20m). Foreign funds top buy were Maybank and Gamuda.
On the other hand, local institutions second biggest net buy counter was YTLPower (23m) after PBB.
Local retailers top buy counter was YTL (25m)
Like it or not, foreign funds still hold lots of YTL & YTLPower shares bought cheap from last year and they are still taking profit whenever they sees fit.
But compared to selling of the tech counters, I guess YTL and YTLPower are holding up pretty well
Their PE ratio are now so low, 6 to 8, compare to the tech counters 20-30s.
At some point, YTL and YTLPower will become bargains. So we need to be patient, I guess.

An estimated total of between RM700mil and RM1bil is needed to resolve Internet issues in public universities nationwide, says Datuk Seri Zambry Abd Kadir. [despite having Unifi fibro-optics today]
Today's paper Star https://www.thestar.com.my/news/nation/2024/09/30/taking-ctrl-of-varsity-internet-issues
"There are 92 universities in the country"
But if "Malaysia has 7,723 primary schools" and "around 2,296 secondary schools"
some in the deep jungles of Sarawak and Sabah.
How much money needed ten years ago before Unifi was available?
Whole damn thing is so silly!

It is great news that our Agong is in the picture.
I hope he personally will put equity into the HSR project (to demonstrate confidence in the project)
Also it is in the interest of the China to make it a showcase of their road and belt initiative.
What more as KL-S'pore route is one of the busiest in the world.
Where will Japan be now if they had not built the Shinkansen?
Also see the rapid development taking place in China.
Our economists & analysts all had a narrow mind and only count the dollar and sens and not look at the wider implications of the HSR project.
Our Agong is more visionary.
Hopefully one day we have a HSR stretching from Penang to S'pore, then we have a 'Silicon Peninsula'

For period Sep13 to Sep23 [Source HLIB]
Foreign funds sold net 105m of YTL and 42m of YTLPower
Local institutions bought net 93m of YTL and 33m of YTLPower
Hopefully the foreign funds who had bought cheap will be exhausting their selling.
Some of the local institutions in the know may be buying
if they know some development taking place.

Also despite the heavy sell last Friday, on the whole, Foreign funds still bought a net 61m on Bursa,
Have to watch all this closely. and also the trend of the Ringgit
As long as foreign funds keep net buy ....
.... effect is redistribution/trickling to other counters
One big question is the effect of Wall Street?
I expect the US market will pivot this year.
Will it be eventually good or bad, I don't know.
For a long time, a uptrend US market had been bad for many small markets like Bursa
So will the contrary be expected? Your guess as good as mine. Tq

Yes, agree with Dragon.
Contrary to expectations, foreign funds bought 47m of YTL and 23m of YTLPower
It was some local funds that unloaded 69m of YTL and 45m of YTLPower
(Probably their cost were very low, so they want to lock in their profit)
Last Friday was significant because of the huge volume, top volume counters on Bursa.
Whatever ironically it may be good as the average price will no longer be 50s-60s
so future profit taking will be minimized.
Local retailers bought 14m YTL and 12m YTLPower
but who are local retailers?
They may not be small timers who buy or sell a few lots, but millionaires in the know
playing with their own money.
Up to you to decide to buy, sell or hold. Your choice!

1Bestarinet project was parked under the Comm segment (2011-2019)
To equip all 10,000 primary and secondary national schools across the country with internet (building base stations, communication towers, fiberoptic lines, computers, routers, etc + manpower cost)
Just imagine setting up in rural schools in the middle of nowhere borneo!

I believe the most prominent investment failure of the YTL group of companies is the Communication /Telekom segment. I was curious so I checked up (since many people are insinuating that YTL made a lot of money from 1BestariNet)
YTL Comm for year ended Jun xxxx
2024 (223m) [Only last Q was in the black]
2023 (268m)
2022 (196m)
2021 (191m)
2020 (264m)
2019 (18m)
2018 (91m)
2017 (93m)
2016 (277m)
2015 (239m)
2014 (193m)
2013 (277m)
2012 (307m)
2011 (280m)
2010 (10m)
2019 (Zero m)

Bursa Malaysia's Foreign Shareholdings
https://bursa.listedcompany.com/foreign_shareholding.html
So you see foreign funds are actually under invested in YTL and YTLPower, two component stock

The Forward PE for Magnificent7 stocks are Apple 26.5, Microsoft 25.7, Nvidia 24.1, Amazon 25.4, Alphabet 16.6, Meta 19.2, Tesla 55.4
PE for YTL and YTLPower are 7 and 8. Up to you to believe there is value.
A few days ago I said don’t try to catch a falling knife and let them exhaust their selling.
When to buy, your guess is as good as mine!
But for long term investors, it may be worth holding especially if you bought cheap. Always fall back to fundamentals.
Politically, I think YTL do not like to play politics although they were once labelled as Mahathir crony but incidentally it was Dr M who cancelled the HSR.
We are lucky to have Dragon to help guide us as his research is of much higher quality compared to the usual bank analyst.

Yesterday was a bad day indeed.
Top 5 foreign net sell was MISC 28m, Sime 26m, YTL 26m, YTLPower 19m and PMetal 17m
Top 5 foreign net buy was CIMB 122m, IHH 64m, RHBBank 43m, AmBank 43m and PBB 36m
Overall foreign funds still bought RM200m net yesterday.
Last month, August alone , foreign funds sold 231m shares of YTLPower and 190m shares of YTL
Dragon believes that foreign funds' holding in YTLP has reduced by 90% since Jan 2024
My rough estimate is that foreign fund hold less than 1% of YTLPower.
For YTL, my rough estimate is that foreign funds sold from a high of 7% to below 5% to now maybe 2%.
I guess the profits are just too much for some of the foreign funds not to take considering the price they paid last year.
But an equilibrium will reach when the earlier foreign investors sell out while the new ones come in.
Thanks to Dragon for his forwarding the research papers from Maybank to me.
I also use the daily ones from HLIB.

Just received the dividends.
Tq Gamuda, . keep up the good work!

Yesterday, local institutions bought 7m YTL and 6m YTLPower.
Retailers sold 4m YTLPower and 2m YTL
Foreign funds not mentioned because not in top 10 buy/sell positions.
Foreign funds still busy buying Tenaga, PBB, CIMB etc
Overall they bought net 286m of stocks on Bursa yesterday
It will be interesting tomorrow to see what they do today

Hi Dragon. Yes I am interested to have a look at the interesting data you have.
But how do I pm you? Sorry I am not that tech savvy.

Hi Dragon,
“Foreign funds' holdings in YTL Power dropped to a low of about 30 million shares last week, a big drop from the peak holdings of close to 400 million shares in Jan-Feb 2024”,
This again is eye-popping for me.
Dragon, where did you get these figures?
As I know, companies only release their foreign ownership data periodically, in compliance to the foreign share ownership rules, the work of their company secretary.
But tracking foreign ownership on a daily basis is something else.
I guess CDS have all the data, but someone has to total all the foreign CDS accounts everyday.
Taking these figures as correct, foreign funds holding of only 30 million shares only means they are extremely severely under-invested in YTL / YTLPower, both which are component stock on Bursa.
“… local institutional funds have collected over 300 million shares of YTL Power in past 2-3 months, and the average price is likely to be around RM4.00”
This is indeed good news!
Means that nearly the foreign “stale bulls” are nearly exhausted!
And the new benchmark is RM4
But to me, it also means the “local institutions” does not include the EPF as EPF have yet to notify of changes in their shareholdings.

Yesterday Foreign funds sold net 11m of YTL and 9m of YTLPower
Local retailers sold net 3m of YTL and 10m of YTLPower
But local institutions bought 14m of YTL and 21m of YTLPower
Guess there are different clients in the foreign funds group.
Recall when UBS took over Credit Suisse, their total holding of YTL for their various clients went above 5%.
So some clients who bought cheap may want to lock in their profits
while some are only starting to accumulate.
Whatever, rotation of stocks are going on;
Local institutions sold a massive 44m of PBB and 43m of MBB yesterday
and Foreign funds sold 23m of CIMB
But overall, Foreign funds still bought a net of 57m yesterday

Also note the co-relation FDI / Bursa and the RINGGIT uptrend.
We pray for a bull-run never seen by many (the lost decades)

For monthly Net trades, Foreign funds bought/(sold)
Jan 2024 679
Feb 2024 1,322
Mar 2024 (2.875)
Apr 2024 (1,376)
May2024 1,484
June 2024 (62)
July 2024 1,319
Aug 2024 2.552
Year to date (RMm) 3,043

Regarding what Dragon said, I checked with my remissier. They only provide data of foreign net fund flows (individual stocks) for the top 10 counter only.
Last Thursday, foreign funds bought net YTL 21m and net YTLPower 16m.
On Friday, they bought net YTLPower 20m.
Looks like they are reversing what they have been doing the past few weeks.
I believe the stock prices may co-relate with whether foreign funds are buying (or not and what they are rotating into or out)
We have to continue monitor them closely.
I also wonder how bursa determines who have the privilege of seeing the daily raw data of transactions.
Isn’t it great to know what Warren Buffet is buying or selling in advance of announcements.

Yes shorties play a part in messing up the market, but I think their volume is still quite small, compared to the real transactions.
These investment banks make money when they advise foreign clients to buy, They also make money when they get the order to sell.
Market up or down, whatever still they make money.
What better way then the churn their client's portfolio?
Good that YTL decided to publish their results early.
We should now play by fundamentals, especially if you hold yours stocks from the lows of 2023

So far there has been no announcement of any new substantial shareholder selling.
So I assume the culprit must still be UBS.
After their last announcement on Jun 5th, when they sold from a high of 6.5% to below 5%, UBS still held about 500m shares.
These foreign funds can very ruthless when their objectives have been met and when they want to monetarize their profits. Initially they sell slowly and as quiet as possible, but often towards the end of their selling, they like to really trash down the price like crazy. Who knows they may even go for a second bite after their accounts squared off.
There may be further drop before they finish selling.
My take is that until it stabilize, don’t try to catch a falling knife. Just let it drop until they exhaust!

First a thank you to Dragon for his analysis of the recent announced results.
Dragon, can you please comment on ….
“The newly secured RM947m Sabah PoP project”
“Sabah PoP project is expected to be rolled out over the next 3 years”
“3-year MYR950m fibre laying contract secured in Sabah”
I can’t find any official announcements on the above.
I wish the YTL management provide timely disclosures and give more guidance to all their major projects to avoid unnecessary deceitful speculations/volatility on the stock market.
A RM947m project is no small amount!

But I will get very worried if I see Yeoh Tiong Lay & Sons selling😀

KUALA LUMPUR (June 5): Swiss investment bank UBS Group AG has ceased to be a substantial shareholder of YTL Corp Bhd (KL:YTL) after a series of share disposals since February, which eventually led to its shareholding in the company going below the 5% threshold.
UBS emerged as a substantial shareholder of the utilities-to-resorts conglomerate (YTL) with a 5.46% stake in June last year, after its merger with Credit Suisse Group AG following Credit Suisse’s collapse.
The bank’s shareholding in YTL had peaked in January this year, with 713.84 million shares or a 6.51% stake. https://theedgemalaysia.com/node/714277

UBS held 713m shares (peak) in Jan 2024
UBS started selling in Feb 2024
YTL peak price was on May 23rd at RM3.88 (closing price), despite UBS’ selling
On Jun 5th “Swiss banking group UBS ceases to be substantial shareholder of YTL Corp” [Edge Jun 6th]
The price on this date was RM3.59.
UBS still had 5%, a whopping 553m shares.
After this date, we get no more notification as the shareholding falls below 5%
Also since the peak in May, the price has gone sideways and never went above its previous high
I presume UBS had been selling all this while.
After the heavy selling on black Mon 2 weeks ago and yesterday, I wonder how many shares they still hold. But one thing for sure, its good riddance!
These foreign funds are never your long-term friend, they sell whenever their objectives are met.
Current price now RM3.08. Your guess as good as mine, at what price is the bottom?

CCCC to share ECRL's operational risks with MRL
https://www.mrl.com.my/en/cccc-to-share-ecrls-operational-risks-with-mrl/
KUALA LUMPUR (July 2): The main contractor of the East Coast Rail Link (ECRL), China Communications Construction Company Ltd (CCCC), is going to bear the operational risks of the rail together with its asset owner, Malaysia Rail Link Sdn Bhd (MRL).
RM50 billion rail that connects Kota Bharu in Kelantan to Port Klang in Selangor …. based on a renegotiated contract aimed at sharing the risks of the project to reduce the financial exposure of the Malaysian government, according to Transport Minister Anthony Loke on Wednesday.


Hopeful the political ruling of no govt funding can be met for the KL-S’pore HSR.
YTL, Berjaya and the Chinese consortiums should be able to privately fund it …. if you are noticing the indirect support coming from the Govt.

In March, regional news platform The Edge reported that separate proposals led by YTL Corp, Berjaya Land Bhd, and China Railway Construction Corporation had been shortlisted for the project.
However, it is believed that only the Chinese consortium led by state-owned China Railway Construction has the financial muscle to undertake the project via private funding [Edge Mar 25, 2024]
All these China companies, CRRC, CRCC, CCCC are mainly state owned companies
For MRT3, YTL-SIPP already is already partnering China Railway Construction Co Ltd (CRCC)
CRRC Corporation Limited (known as CRRC) is a Chinese state-owned and publicly traded rolling stock manufacturer. It is the world's largest rolling stock manufacturer in terms of revenue, eclipsing its major competitors of Alstom and Siemens.
China Communications Construction Company, Ltd. (CCCC) is a Chinese majority state-owned, publicly traded, multinational engineering and construction company primarily engaged in the design, construction, and operation of infrastructure assets, including highways, skyways, bridges, tunnels, railways (especially high-speed rail), subways, airports, oil platforms, and marine ports. CCCC has been a contractor for numerous Belt and Road Initiative projects
China Railway Construction Corporation Limited (abbreviated CRCC) is a listed construction enterprise based in Beijing, China, that was the second largest construction and engineering company in the world by revenue in 2014. [Wiki]

KTMB to acquire 62 train sets through RM10.7bil Malaysia-China leasing deal … NST August 14, 2024
So what is the importance of this piece of news?
https://www.nst.com.my/news/nation/2024/08/1091395/updated-ktmb-acquire-62-train-sets-through-rm107bil%C2%A0malaysia-china
RM10.7 billion (that’s a lot of money! … first phase from 2024 to 2027).
Almost 90 per cent of passenger trains in KTMB's service network are manufactured by China Railway and Rolling Stock Corporations (CRRC). CRRC has a rolling stock centre in Batu Gajah, Perak