YTL keen in more investments in Indonesia

Malaysia's firm YTL Corporation is keen to have more investments in infrastructure sector in Indonesia, which is in need of a whopping US$10 billion of investment, Bernama reported Thursday.

"On our part we have invested heavily in Indonesia and there are still more investment opportunities in Indonesia," said its managing director, Tan Sri Francis Yeoh.

YTL Corp, he said, was looking at power and water sectors as well as road building for investment opportunities in Indonesia particularly in areas where the take up rate of investments is low.

In December 2004, YTL Power completed its acquisition of a 35 percent stake in P.T. Jawa Power, which owns a 1,220 MW power plant in Indonesia and a 100 percent interest in P.T. Powergen Jawa Timur, the operating and maintenance company of P.T. Jawa Power.

Francis was speaking to reporters on the sidelines of a reception hosted by Temasek Holdings for members of the Kuala Lumpur Business Club (KLBC).

He said the company had dwelt on various opportunities available in Indonesia and was keen in venturing more into Indonesia with other Malaysian companies.

"There are many projects which are in the offing especially in the energy and road sectors. We are very interested and have asked our company in Indonesia to look into these closely," he said.(*)