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YTL Power International Bhd (YTL Power) will benefit from the higher retail tariff mix in Singapore and higher uniform Singapore energy prices in the coming quarters as well as the turnaround of its Wessex Water asset (following 9% hike in average tariff) and new Attarat oil shale power plant contribution in Jordan, said the research house.
This could potentially ensure higher dividend payout for YTL Power (given the stronger profits and cash flow) to 15 sen a share (yielding 11.9%) in financial year 2024 to 2025 versus the house’s conservative assumption of only eight sen a share.
It maintained its “overweight’’ rating for the sector with top picks being TNB (target price (TP) of RM12 a share) and YTL Power (TP: RM2.05 a share).
NTA up, with future earnings estimated to be promising, share price might go up still for a while..
but for those who intend to chase high, you need to make sure you know when to cut lost if correction is taking place..