YTL eyes acquisitions in UK amid Brexit shock

Kuala Lumpur

YTL Corp, the Malaysian conglomerate which snapped up a British utility from the now-defunct Enron Corp more than a decade ago, is looking for bargains again after the UK vote to leave the European Union (EU) sent assets plummeting.

The company, one of Malaysia's biggest investment holding groups with utilities and property in Britain, will look for infrastructure utility assets in the UK over the next two to three years, Francis Yeoh, its managing director, said in an interview. Not since 2008 has there been an opportunity for it to scout for assets at attractive prices till now, he noted. The company has about RM13.5 billion (S$4.5 billion) in cash that could be used to fund expansion.