Francis Yeoh: YTL Corp's viable, sustainable, long-term businesses a 'bedrock' amid challenges

• We have reinforced the operational efficiency and strength of our existing operations while moving ahead with strategic new businesses, and are well prepared to meet the future.

Below is an excerpt from YTL Corp Bhd executive chairman Tan Sri Francis Yeoh Sock Ping's statement in the company's latest annual report, which was filed with Bursa Malaysia on Monday (Oct 31).

The world in general is facing challenges on multiple fronts, including recovery from the Covid-19 pandemic coupled with risk of the emergence of new variants, the military conflict in Ukraine and knock-on effects on energy prices, the escalating climate emergency and rising inflationary pressures. Given the international scale and breadth of our operations, our ability to address and manage these factors remains of paramount importance.

Our commitment to developing viable, sustainable, long-term businesses forms our bedrock in this regard. The general arc of our expansion has continued on a consistent track towards investing in and developing businesses that are economically, environmentally and socially sustainable, utilising the latest technological advancements and instilled with the robust governance culture that is the cornerstone of our group.

Owing to the geographic extent of our group’s operations and different nature of businesses across the domestic and international utilities, construction, cement, hospitality and property industries, we have committed to a group-wide target to achieve carbon neutrality in our operations by 2050. Our businesses in the UK and Singapore, however, which form a significant part of our operations at this stage, are much further ahead in the journey — given the advancements in those jurisdictions — and expected to reach this target sooner.

The progress and advancements we made this year will stand us in good stead for the year ahead. We have reinforced the operational efficiency and strength of our existing operations while moving ahead with strategic new businesses, and are well prepared to meet the future.

Tan Sri Francis Yeoh Sock Ping
Executive chairman
YTL Corp Bhd
Oct 31, 2022