First 700MW starts on 1/1/2009 and second 700MW starts on 1/7/2009.

It is very unlikely that it will happened though. Further more, i wonder YTL power itself want to expand their business in malaysia or not ?  They are more interest on expanding on Singapore, China Australia.

Yeah, the most profitable power company in SG was the 1st one sold which is Tuas Power and that was sold at USD 4bil, next was the biggest and that was sold for USD 3.5bil. I think this one USD 3 bil or below should be around there. And the fact that the parent company Temasek will also arrange for finances is a bonus.

Yes, Darkknight81 is right, each genco is only able to supply about 30% or so electricity. Only certain sections or area will be liberalise to competition among the gencos, not the entire island. More worrying is that Sembawang Corp once said if it doesn't get any of the 3 being sold, it will built it's own power station.

Yup. Remember the money are being raise from the warrants.

I am waiting to offload my warrant B to buy the more mother share

i will hold untill march. but i know nothing about this stock. just know they will be a sharebuy back... so seek advice from SIFU

How many ordinary shares are there now?

What is warrant A and warrant B?
How many additional shares if all these warrants convert to ordinary shares?

Please help. I want to calculate the diluted EPS.

If more warrant being converted the EPS will be diluted further.

1 warrant B for every 3 mother share so is about 33% of dilution to the EPS...Impact is very great consider the cash being raised stay stagnant there... So in order to enhance the EPS good acquisition must take place ASAP.

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Added on November 20, 2008, 8:47 pm

Short term maybe bad. I can say if look at long term is definitely good especially country like UK and Australia which their currency has slide a lot against RM...

Waw,

Spending RM 8.57 billion just to improve 1sen to EPS to the bottom line.

YTL's  Power was sucked up by Temasek.

Temasek Boleh.

It is quite high indeed as i mentioned earlier the ROI is about 6.5%

But improve EPS of 1 sen only i disagree lol

For your information, YTL power net profit is bout RM1.3 billion

Seraya net profit is about RM 500 MILLION

Considering EPS of 15 sen for ytl power. Thus after the acquisition the EPS should be around 20 sen

I beliv they will use most of the earnings from seraya to pay off the liability as soon as possible thats y the net profit of 76 million come from. Pls advice if i am wrong as i don have any accounting back ground still learning 

I beliv power plant business you got to keep on upgrading your equipment to make sure the efficiency of your plant. If you look at ytl powr financial report. there is a section mentioning about cost for upgrading the power plant to improve the efficiency. Where as the the leasing, i beliv 99% can be renewed if not they will be informed at least 10 years before hand. As i know for wessex water leasing , if the contract cannot be renewed ytl power will be informed at least 20 years beforehand.

I beliv from the first few years we cannot see the contribution from seraya as i beliv maybe 90% or more of the earnings is being used to pay the debts just like you have housing loan....paying more to reduce the principle first.
Same like Wessex water, after the acquisition on 2002 it only contributed less than 10% , for 2003 contributed less than 50%. Whereas it contribute about 70% today on the ytl power net profits.

Actually hope some one to pin point if there are mistakes in my analysis.
i don hold any warrant at the moment all sell off and bought mother share for the dividend. In short term (3 years) i beliv we cannot see ytl power share price to soar so better switch all to mother share and get the dividend. My strategy is to accumulate my dividend and buy the warrant whe the share price dip further for example i target 40 sen to enter warrant B. If the share price dip better buy warrant as you get higher return during rebound. 

Your plan should include Capital Risk Management & Position sizing.

The dividend payout & share price are related. Everything that people knows about the company is reflected in the share price.

Hi Hi..

I am June, a supporter and Minor for YTL Power as well...

Nice to meet you guys...

Below are some of my analysis on latest acquisition:

First YTL power still have  RM 11-2.6= RM 8.6bil to play

EV inc net debt= S$3.8bil, EBITDA of Seraya is abt S$350mil (FY08)
So it's acquisition price is about 11 X EBITDA

Let's compare with Senoko bought by Marubeni n the gang
EV inc net debt=S$3.95bil (pls correct me if im wrong), EBITDA of Senoko is S$240mil (FY08)
It 16.5 X of EBITDA

Tuas bought by Huaneng at EV=S$4.3bil, EBITDA of Tuas is S$330mil (FY07)
So they are paying 13.3 X of EBITDA

So YTL bought it much cheaper than the rest...

In MW basis,

Seraya 3100MW, YTL pays S$1.23mil/MW
Senoko 3300MW, Marubeni & gang pays S$1.2mil/MW
Tuas 2670MW, Huaneng pays S$1.6mil/MW

On MW basis, YTL seems on par with Marubeni, but Seraya is currently building 800MW cogen.
So if we include that, YTL pays S$0.97mil/MW

Plus, Seraya is in Jurong island, has multiutilities capabilities like provide steam sales, provide water via desal plant etc (Unlike Senoko and Tuas)

Net profit increase of RM76mil maybe just a conservative projection, maybe double as well.
Feel free to comment..

Cheers,
June