YTL Power International Bhd shares rose 1.81% to RM5.61 as of 12.06 pm, extending gains after RHB Research and HLIB maintained BUY calls on the utilities group following its latest gas turbine agreements.
The stock opened at RM5.53 and climbed to an intraday high of RM5.81 before easing to RM5.49. Some 11.12 million shares changed hands.
YTL Power had closed at RM5.51 in the previous trading session, putting the latest price 10 sen higher.
The positive sentiment came after YTL Power and Ganda Power secured four additional gas turbines from Siemens Energy, bringing their total reserved turbines to seven with combined generation capacity of 5,250MW.
RHB Research retained its RM7 target price, while HLIB kept its RM7.58 target price. RHB said the additional capacity could allow YTL Power to benefit from Malaysia’s expected need for 6GW to 8GW of new gas-fired generation by 2030.
HLIB also linked the expansion to rising electricity demand from data centres, noting that YTL Power’s AI and data centre businesses are targeted at 2.4GW.
RHB has also highlighted YTL Power’s expansion in Sedenak and Kulai, including a recently acquired 145-acre site at Sedenak West for an additional data centre campus.
