Following the government’s eyebrow-raising decision to award YTL Corp a contract for internet services, learning programmes and the supply of Chromebooks to school pupils, we might be curious to know who exactly owns the firm.
The company says it was awarded the contract via open tender.
Deputy Finance Minister Ahmad Maslan’s claim that it is cheaper to supply Chromebooks to a class than to build a computer lab does not make sense to me. Why not get the Chromebooks directly from the suppliers? Moreover, a computer lab can be shared among many more students.
The Mahathir administration unfortunately privatised electricity generation. It granted YTL the first independent power producer licence in 1993, under the first generation of lucrative concessions. The EPF subscribed to the bond issue as part of the financing for the project.
So who owns YTL? We can only go by available official records, for what it is worth; so here goes.
These are the substantial shareholders of YT Corp on 28 September 2012:
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