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YTL Power Registers Full-Year Revenue of RM9.8 Billion (US$2.3 Billion) & Profit of RM755 Million (US$176 Million) Interim Dividend of 5.0 Sen per Share & 1-for-50 Share Dividend Declared

Kuala Lumpur, August 29, 2017

YTL Power International Berhad recorded revenue of RM9,778.2 million (US$2,284.6 mn) for the 12 months ended 30 June 2017 compared to RM10,245.2 million (US$2,393.7 mn) for preceding corresponding 12 months ended 30 June 2016. Profit for the period decreased to RM754.7 million (US$176.3 mn) this year, compared to RM1,178.5 million (US$275.3 mn) for the same period last year, whilst net profit attributable to shareholders decreased to RM673.4 million (US$157.3 mn) this year over RM1,061.9 million (US$248.1 mn) last year.

The preceding corresponding 12 months ended 30 June 2016 included a one-off gain from an arbitration award on the recovery of impairment of receivables before tax of RM152.6 million, interest income of RM38.0 million in the contracted power generation segment and a deferred tax credit of RM260.1 million by an associate, PT Jawa Power. Adjusting for the one-off gain and deferred tax credit, profit before taxation would have been RM863.4 million last year, which is comparable to profit before tax of RM867.6 million for the current 12 months under review.

The Board of Directors of YTL Power declared an interim cash dividend of 5.0 sen per ordinary share for the financial year ended 30 June 2017, together with a share dividend on the basis of 1 treasury share for every 50 ordinary shares held. The book closure date for both the cash and share dividends is 26 October 2017. The payment date for the cash dividend is 10 November 2017, whilst the share dividend will be credited to entitled shareholders within 10 market days of the book closure date. The combined dividend yield of the cash and share dividends amounts to 5.5% based on the current average share price of RM1.41 per share.

Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, said, "YTL Power's operating performance remained relatively stable for the 12 months ended 30 June 2017. Although the merchant multi-utilities business in Singapore recorded lower revenue due to a decrease in electricity units sold, this was offset by lower operating and interest expenses, resulting in higher profit before taxation for the segment. Meanwhile, the decrease in revenue and profit before taxation for the water and sewerage segment in the UK resulted from the strengthening of the Malaysian Ringgit against the British Pound, whilst the mobile broadband network segment registered improved performance arising from the launch of nationwide 4G LTE services. 

"In our contracted power generation division, the extension for the supply of 585 megawatts of capacity from our existing power station in Paka, Terengganu, for a revised term of 3 years 10 months (from 2 years and 10 months previously), has now been finalised and is scheduled to commence on 1 September 2017.

"In our new projects, earlier in the year, we increased our stake in Attarat Power Company (APCO) to 45%, from 30% previously, upon the project achieving financial close in March 2017. APCO is developing a 554 megawatt oil shale fired power generation project in the Hashemite Kingdom of Jordan. The project has a 30-year power purchase agreement for the plant's entire electrical capacity with Jordan's state-owned power utility, with an option for the utility to extend the operating period to 40 years, and is scheduled to come on-line in mid-2020. The Group is also working towards financial close of our 80%-owned Tanjung Jati A project, a 2 x 660 megawatt coal-fired power project in Java, Indonesia, which has a 30-year power purchase agreement with the state-owned electricity utility."

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