Ytlpower Berhad, a subsidiary of Yang Zhongli Group, has been sought after by the market in the past six months, rebounding 1 times from the bottom, and is the main driver for the utility index to break through new highs. It also became the representative of horse stocks with the brightest trend since 2023
There are three important factors. First, the government is reconsidering the renewable energy export ban
Siraya Power, located in Singapore, is a subsidiary of Ytl and the only Malaysian energy company that supplies electricity in Singapore. Since the Ministry of the Environment banned exports of renewable electricity in 2021, Ytlpower has been the biggest victim of this policy. Assuming it can be reopened is undoubtedly a big positive message. In line with the newly developed green energy data center, it will surely increase the actual benefits of electricity exports
Second, the National Energy Transition Plan
In line with global carbon reduction targets, the Malaysian government has been very active in promoting the development of renewable energy over the past few years. The Minister of Economy recently announced that the first phase of the NETR plan has invested 25 billion dollars. It is estimated that after the full launch of the 10 plans, 1.85 trillion investment opportunities will be created. Meanwhile, the Malaysian Energy Commission announced that the first batch of corporate green power program (CGPP) bidders have subscribed to the 563 MW quota, accounting for 70% of the total quota. Among them, Ytlpower has a strategic position in green energy exports, becoming one of the potential beneficiaries
Third, analysts' evaluations
Since the opening of the market this year, many analytical agencies such as Kenanga, OSK, MIDF...