Dear Tan Sri,
Good morning.
It is noted that KWSP has been accumulating YTL Corp shares. It is further noted that while PNB is targeting SPSetia and may be some other companies KWSP is also accumulating shares of certain companies including YTL. You will definitely have observed this 'piratization' of the corporate sector and would have taken appropriate remedial measures to retain control of YTL gems. However it may not be easy to fight/compete with the two giants controlled by a single party. Even AMMB shares are not being spared. Controlling shareholders of Sunway and YNH are buying their own shares but then how long will they be able to hold, It looks like political connections may not come to assist this time around for any one corporate leaders. The common denominator in all these companies is that the assets are undervalued and thus ready for picking. The new owners may make these gems to rocks and loss making appears to be of little concern to them. Just look at the six plantation profitable companies which were merged under Sime Darby [which is substantially owned by PNB under Synergy Drive] which can be deemed to be disasters compared to their original values.
Unknown source
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