YONGTAI
Yong Tai Berhad
Company Background
Titan Trading Notes For Friday [25/4/2025]:
KLCI had a slight rebound back towards the 1506 points region with an overall mixed market sentiment here as we still saw over 420 counters closing red for the day. Daily trading volume remains average around the 3 billion mark, which is still nothing too exciting yet.
Main stocks that showed strong buying momentum today would be the likes of BPURI, POS, CIMB, TANCO, YONGTAI, DBRHCOM, KPJ, AXIATA, and DNEX. All of which were able to sustain their rallies throughout the day on the top volumes list.
Now most of you should know that there was a massive security breach on brokerage accounts using N2N platforms i.e. CGS, AFFIN, TA Securities, APEX, and etc. today, leading to unauthorised purchase of BPURI, BPURI WB, and POS shares, leading to a huge surge in volume and buying momentum today.
Definitely something very scary going on here, and should be the first to ever happen at such a large scale in Malaysia. As such, I would ask everyone to be cautious and avoid trading such stocks for the time being as we don't know what will Bursa and SC's next steps be.
I will not comment on these stocks either. I am one of the more fortunate ones that wasn't affected by this. But I do know some of my friends that were affected and are now suffering from huge losses due to these unauthorised trades. Still no idea what's their next step is going to be.
Among others, $YONGTAI / 7066 (YONG TAI BERHAD) was quite interesting as it broke out huge from its RM 0.19+ major resistance and rallied all the way towards the RM 0.22 regions with huge volume and buying momentum out of nowhere today.
So far looking quite good here and if able to sustain above its RM 0.19+ immediate support, could continue to trend back up towards the RM 0.235 - RM 0.25+ resistance levels soon in the coming weeks.
Will be monitoring YONGTAI closely.
$MSM / 5202 (MSM MALAYSIA HOLDINGS BERHAD) since retracing back towards the RM 0.86+ major support levels, been able to recover quite well over the past few weeks here, even breaking out strong back towards the RM 1.26+ regions with good volume and buying momentum.
So far looking quite strong here and if able to sustain above its RM 1.20+ immediate support on the daily chart, could continue on towards and beyond the RM 1.35+ major resistance levels once more in the coming weeks.
Will be monitoring MSM closely
Yong Tai Forms JV with Taghill to Develop Two Serviced Suite Blocks in Melaka
Property developer Yong Tai Bhd (KL:YONGTAI) has formed a joint venture (JV) with builder Taghill Holdings Bhd (KL:TAGHILL), previously known as Siab Holdings Bhd, to develop two blocks of serviced suites in Melaka.
The project is expected to generate RM28 million in capital entitlement for Yong Tai, which is granting Taghill's unit the exclusive rights to develop the blocks — to be known as The Dawn @ Impression City Melaka — on a plot of leasehold land measuring 2.02ha in Kawasan Bandar XLIV, Melaka Tengah, that Yong Tai owns.
In separate bourse filings on Tuesday, Yong Tai and Taghill announced that the JV is formed via Yong Tai's fully owned YTB Impression Sdn Bhd and Taghill's fully owned Taghill Land Sdn Bhd.
Under the JV deal, Taghill Land will plan, execute, manage and market The Dawn, which will comprise 648 units of serviced suites and 330 car park bays, with an estimated gross development value of RM183.31 million. In return for the use of the land, Taghill will pay YTB Impression RM28 million.
The project is set to begin in the third quarter of 2025, with completion anticipated by the fourth quarter of 2027. The project's estimated gross development value is RM183.31 million, while its estimated gross development cost is RM149.43 million, inclusive of Yong Tai's entitlement.
If the project's profit before tax surpasses RM11 million after deducting Yong Tai's entitlement, the surplus profit will be distributed at a 60:40 ratio to Taghill and YTB Impression. If the PBT falls below RM11 million, Taghill Land will gain full ownership of the project's unsold units.
“This joint venture with Taghill Land represents a decisive step in enhancing Yong Tai’s financial strength and reducing our construction risk exposure. Taghill Land’s proven expertise in property construction ensures that The Dawn will be completed swiftly, allowing us to efficiently monetise our previous investments while positioning Yong Tai for sustainable long-term growth," said Yong Tai chief executive officer and executive director Datuk Wira Boo Kuang Loon in a statement.
Yong Tai shares slipped half a sen or 3.6% to close at 13.5 sen on Tuesday, giving the group a market capitalisation of RM57.9 million. Taghill rose half a sen or 6.3% to 8.5 sen, valuing it at RM132.3 million.
$SIAB / 0241 (SIAB HOLDINGS BERHAD.)
$YONGTAI / 7066 (YONG TAI BERHAD)
Source from The Edge
KUALA LUMPUR: Kerjaya Prospek Group Bhd has initiated legal action against Yong Tai Bhd and its CEO over an alleged unpaid contract sum of RM105.14 million in connection with a construction project in Melaka.
© New Straits Times Press (M) Bhd
$KERJAYA / 7161 (KERJAYA PROSPEK GROUP BERHAD) $YONGTAI / 7066 (YONG TAI BERHAD)
MULTIPLE PROPOSALS (Amended Announcement)YONG TAI BERHAD ("YTB" OR THE "COMPANY")
(I) PROPOSED DISPOSAL OF A FIVE-STAR HOTEL KNOWN AS COURTYARD BY MARRIOTT MELAKA BY APPLE 99 DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF YTB, TO SOUTHERN ENVOY SDN BHD FOR A CASH CONSIDERATION OF RM160,000,000; AND
(II) PROPOSED PRIVATE PLACEMENT OF UP TO 30.00% OF THE TOTAL NUMBER OF ISSUED ORDINARY SHARES IN YTB.
$YONGTAI / 7066 (YONG TAI BERHAD)
$YONGTAI / 7066 (YONG TAI BERHAD): Board Changes
Dato' Leong Sir Ley, the largest shareholder of Yong Tai, has resigned from her position as a non-executive director to focus on a new business venture. Dato' Leong is the founder and chairman of Sheng Tai International, a property development company. She became the largest shareholder of Yong Tai last year after acquiring 90 million shares (23.8%) through Domain Capital Sdn Bhd. Recently, Domain Capital has reduced its stake in Yong Tai to 16.011%, and Dato' Leong has stepped down, although she remains the largest shareholder.
Additionally, Mr. Leou Thiam Lai and Mr. See Tai Soon have resigned as chairman of the audit committee and non-executive director, respectively.
This raises several questions: Is Dato' Leong's share disposal due to a significant increase in share price? Who will become the next major shareholder of Yong Tai? Will Datuk Wira Boo Kuang Loon purchase enough shares to regain his position as the largest shareholder? Alternatively, could the major shareholder of $TNLOGIS / 8397 (TIONG NAM LOGISTICS HOLDINGS BERHAD) become Yong Tai's major shareholder? There is recent speculation that Courtyard by Marriott Malacca will be sold to Mr. Ong, the major shareholder of Tiong Nam, who also holds a 1.23% stake in Yong Tai.
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What is Brewing in Yong Tai Bhd (7066)?
For the past few days, Yong Tai Bhd (YONGTAI) had seen significant change in shareholdings and also changes in the boardroom. This had raised eyebrows amongst investors, as to what is going on with the company.
However, I see this as a positive sign for YONGTAI as this would be changing to more capable management going forward to effectively turn YONGTAI, the asset rich company for good.
Share price chart of YONGTAI.
Currently, the share price of YONGTAI is trading at RM0.330, but the NTAPS of the company is valued at RM0.680, representing a steep discount to the company’s share price.
Recently, there is news coming from The Edge that the company is eyeing to sell Courtyard by Marriott in Melaka for RM160.0 million to RM 170.0 million.
Once again, the market capitalisation of YONGTAI is merely RM140.0 million at the moment.
Perhaps going forward, we will see more positive developments coming for YONGTAI?
$YONGTAI / 7066 (YONG TAI BERHAD)
Mega Sized Special Dividend Coming for Yong Tai (7066)?
According to an exclusive report by 9Shares and The Edge, Yong Tai is on the brink of successfully selling its Courtyard by Marriott four-star hotel in Malacca. The hotel is expected to fetch between RM160 million and RM170 million. This sale is in its final stages, with the buyer believed to be a major local logistics company, speculated to be the family-controlled Southeast Logistics, a leading logistics and warehouse system group in Malaysia.
For information, Yong Tai’s current market capitalisation is approximately RM134.0 million.
Game Changer for Yong Tai Shareholders
The sale of the Courtyard by Marriott hotel could significantly enhance Yong Tai's financial standing. As of March 31, Yong Tai had a total debt of RM169.65 million and cash reserves of RM7.5 million. The anticipated proceeds from the hotel sale would considerably reduce the company's debt burden and improve liquidity.
A little bit of background of the company.
Yong Tai, a property development group, launched the "Encore Melaka'' tourism project five years ago. However, the project faced setbacks due to the COVID-19 pandemic. The company reported a net loss of RM346.67 million in 2022, which was reduced to RM21.67 million in the 2023 fiscal year. In the first nine months of the 2024 fiscal year, the net loss further decreased to RM6.09 million. The financial turnaround is attributed to the return of Dato' Wira Boo Kuang Loon as CEO, who has steered the company back towards stability.
Asset Sales Expected to Go Through
The Courtyard by Marriott hotel, with 248 rooms, has been operational since April last year and achieved a 65% occupancy rate in its first year. This operational success reflects the property's high potential and market demand. Furthermore, the "Encore Melaka" show has resumed operations, attracting significant Chinese tourist traffic due to Malaysia's visa-free entry policy for Chinese tourists. This resurgence in tourism is expected to contribute positively to Yong Tai's revenue and growth prospects.
In conclusion, the strategic sale of a high-value asset, improving financial health, recovery from pandemic-induced losses, successful operations, and active market trading make Yong Tai Berhad an attractive investment prospect. The company's efforts to stabilise and grow amidst challenging circumstances demonstrate its resilience and potential for future growth.
$YONGTAI / 7066 (YONG TAI BERHAD)
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")
$YONGTAI / 7066 (YONG TAI BERHAD)
Sharing from remisier
*Yong Tai* (41 sen) – *A new lease of life*
Yongtai recently held its investor briefing on 3 July to share the latest updates on the company.
The stock came into the limelight recently when Fan Bing Bing visited Melaka as the group is one of the listed companies with exposure to Melaka tourism segment through its concert hall and hotel. The stock price surged by +78.2% from its YTD low in mid-Apr.
*Background*
The stock was under the radar for the past several years due to the underperformance of its financials. Its balance sheet in particular was under immense pressure due to the large debt on its book while cash flow was strained.
The large debt was a result of the capital raised to construct Encore Melaka Theatre (concert hall) in Melaka and Courtyard Hotel in Melaka.
Encore Melaka Theatre was completed in July 2018 but it unfortunately have to shut down operations due to Covid. However, there were ongoing costs including utilities and manpower that the group need to pay during the closure period.
As at 31 Mar 2024, the group’s net gearing stood at 71.9% and we understand that the average interest rates were as high as 10%.
*Turnaround plan*
The visit of Fan Bing Bing to Melaka coincided with a time when the group is undergoing a transformation and has strategies in place to turnaround the company.
Among the positive developments include:
*1) Reopening of Encore Melaka Theatre and collaboration with Sichuan Tourism Investment Group*
Encore Melaka Theatre will be reopening this month on 7 July.
Recently Yong Tai also signed a collaboration agreement with Sichuan Tourism Investment Group (STIG). As background, STIG was established in Apr 2017 and approved by Sichuan state government.
Under the agreement STIG will manage and operate the theatre with a target of achieving 70% occupancy rate within 6 months. For perspective, pre-pandemic the occupancy rate was around 40%. STIG will work on bringing more Chinese tourists and tours to Encore Melaka Theatre.
*The group projects that under a 50% occupancy rate assumption, the annual core profit for the segment should be around RM5.5m.* Note that this assumption is below the target set by STIG, which is at 70%. At 70% occupancy rate, annual core profit is estimated to be RM14.4m.
This is a positive development on several fronts including:
i) the reopening will see positive cash flow from the asset, helping to service the group interest payments and working capital;
ii) the reopening coincided with China Visa Free Travel, Fan Bing Bing visit which garnered significant interests on Melaka which should augur well for tourist visit to the venue; and
iii) the collaboration with STIG capitalizes on STIG expertise which help Encore Melaka Theatre in many aspects including revamping its ticket pricing and marketing strategy as well as using its network to bring in more tourists.
*2) Disposal of Courtyard Melaka*
The group decided to dispose Courtyard Hotel to repay some of its debt and liabilities. While Courtyard Hotel is doing well currently, however, unfortunately, it is also associated with high cost debt, thus, the net profit from the asset is less than ideal.
The current recovery in hotel industry has made it an opportune time for the disposal as the valuation of the hotel is attractive. The sales proceed is anticipated to be around RM160m, while the gain from disposal is expected to be around RM50m.
*Net gearing is expected to improve significantly to 5.8% from 71.9%.* The sales proceeds will be used to reduce borrowings and complete its ongoing property projects including U-Thant in KL and The Dawn in Melaka. With this, the average interest rate is also expected to decline significantly to around 6% from 10% previously as the group pay off its high interest debt.
*3) Property development*
The group targets to launch its The Dawn project (GDV: RM300m) in Sep/Oct 2024. Note that this project already have construction progress of 30-40% but progress was stalled due to cash flow constraint. The group should be able to resume construction with the capital from the disposal of Courtyard Hotel.
As such, upon launch, for any sales secured, the group would be able to immediately bill 30-40% of the sales as revenue.
Secondly, the group plans to complete its ongoing project U-Thant (GDV: RM200m) which is at 70% completion.
Finally, the group is in the midst of acquiring a land in JB near to RTS. Indicatively, the GDV of the project is RM1.5bn, while the group may take a 60% stake in this development, giving it an effective GDV of RM900m. The land cost-to-GDV is attractive at around 7%, which should give the project very attractive margin.
Assuming this deal materializes, the project is estimated to give the group and annual earnings of RM56m (assuming 100% take-up rate, 25% net profit margin and 4-year development period). The project is likely to be launched in 2HFY25 (FYE June).
*FY25 profit guidance*
The group shared its earnings projection for FY25:
i) Encore Melaka Theatre (RM5.5m)
ii) Property development (RM20.6m)
iii) Disposal gain (RM50m)
Total: RM76.1m
*Excluding disposal gain, core profit for FY25 is estimated to be RM26.1m (EPS: 6.2sen). Based on current price of 41 sen, this implies PER of 6.2x.*
*A new lease of life*
After 3-4 gruelling years surviving through the pandemic, it appears that the group may finally see the light at the end of the tunnel.
The tourism recovery, promotion of Melaka as tourist spot augur well for both the resumption of Encore Melaka Theatre and valuation of Courtyard Hotel Melaka disposal.
FY25 will be an execution year for Yong Tai. It remains to be seen if the group will be able to execute its plans as outlined above. If executed well, this should put the group back to a sustainable recovery and growth path.
Notice of Person Ceasing (Section 139 of CA 2016) - FULL WINNING DEVELOPMENTS LIMITED
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")
A Prime Investment Opportunity in Yong Tai Berhad?
Malaysia’s tourism sector, once a vibrant economic powerhouse, faced significant setbacks due to the Covid-19 pandemic, which led to prolonged border closures from 2020 to 2022. However, the sector is now experiencing a remarkable recovery, driven by strategic initiatives and a renewed global interest in Malaysia’s rich cultural heritage and natural beauty. This resurgence signifies not just a return to pre-pandemic levels but a transformation towards an even more dynamic and resilient tourism industry.
In 2023, Malaysia recorded a dramatic increase in international tourist arrivals, with the number of visitors surging to 20.14 million, a 100% increase from the 10.07 million in 2022. While this figure remains 22.8% below the 26.1 million visitors of 2019, it underscores a strong recovery trajectory. The tourism sector generated RM71.3 billion in revenue in 2023, reinforcing this positive momentum.
Looking ahead, Tourism Malaysia has set an ambitious target of welcoming 27.3 million international tourists in 2024, with an expected total expenditure of RM102.7 billion. If realised, this goal would mark a significant milestone in not only restoring but surpassing pre-pandemic tourism activity levels. The steady growth observed through Q1 2024 indicates that this objective is well within reach.
Tourists are not only visiting Malaysia in greater numbers but are also staying longer and spending more. The average duration of visits to APAC countries has increased, with Malaysia seeing an extension to 6.4 days from 5.6 days pre-pandemic. This increase is driven by the country’s affordability, favourable climate, and competitive exchange rates.
Additionally, there has been a significant rise in spending on tourism-related activities. Between April 2023 and March 2024, Malaysia experienced a 73.8% rise in spending on casual apparel and an 82.8% increase in casual dining expenditures by tourists. These figures highlight Malaysia’s growing appeal as a top shopping and dining destination in the region.
Tourism-related property developer Yong Tai Berhad (KL) is leveraging Malaysia’s tourism resurgence to breathe new life into its flagship project, Encore Melaka. The group recently announced a collaboration with Sichuan Tourism Investment Group (STIG) from China to revitalise the operations of Encore Melaka, a state-of-the-art theatre launched in 2018.
Encore Melaka, part of Yong Tai’s Impression City project, holds a 30-year concession to stage the Impression Series, a show highlighting Melaka’s rich history and cultural heritage. Despite its potential, the project struggled due to the pandemic, but the partnership with STIG aims to resume shows next month and achieve a 70% occupancy rate within six months.
Malaysia’s tourism sector is on a robust recovery path, driven by strategic government initiatives, increased tourist arrivals, longer stays, and higher spending. The sector's resilience and adaptability make it a compelling investment opportunity as it continues to capitalise on the growing global interest in travel and experiences. Companies like $YONGTAI / 7066 (YONG TAI BERHAD) , with their strategic projects and partnerships, are poised to benefit significantly from this resurgence, offering promising returns for investors looking to engage in Malaysia's burgeoning tourism market.
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Additional Listing Announcement /Subdivision of Shares
The Next Big Thing in Malaysia’s Tourism Scene?!
Yong Tai Berhad (YTB) is on the brink of something big. With a new collaboration with Sichuan Tourism Investment Group and the excitement around their tourism ambassador, Fan Bingbing, this is a stock you don’t want to miss out on.
Here’s why YTB is set to be a game-changer in Malaysia’s cultural tourism sector and a potential goldmine for investors:
(Snapshot of the star.)
YTB has teamed up with STIG, a major state-owned enterprise from Sichuan, China. This partnership is all about revamping the Encore Melaka theatre, an iconic cultural spot in Melaka. With shows starting again in July 2024, the goal is to fill 70% of the seats within six months. STIG brings a ton of expertise in managing and promoting cultural tourism, which means Encore Melaka is in good hands.
Encore Melaka isn’t just any theatre. Designed by Wang Ge from the Beijing Institute of Architectural Design and built by Joinus from Hangzhou, it boasts a 360-degree rotating auditorium, high-tech audio systems, 3D video mapping, and stunning special effects. Its unique design symbolises the blend of Eastern and Western cultures, making it a top attraction in Melaka.
Adding to the excitement, international superstar Fan Bingbing is now the tourism ambassador for Melaka. Her star power is expected to draw huge crowds to Encore Melaka, boosting its popularity and ticket sales. With Fan Bingbing on board, YTB is set to turn heads and attract tourists from all over.
The Malaysian government is backing this up with strong support. From December 2023, Chinese tourists can enjoy a 30-day visa-free entry to Malaysia, which is expected to bring in a steady flow of visitors. Plus, 2024 has been declared “Visit Melaka Year,” aimed at promoting the state’s rich cultural heritage and drawing even more tourists.
Financial Upside and Future Growth
YTB’s partnership with STIG ensures top-notch management and marketing for Encore Melaka. This collaboration also addresses past management issues, setting YTB on a path to success. By teaming up with a prestigious artist college for performers, YTB has created a cost-effective model that ties expenses to ticket sales, making this project financially sustainable.
Why You Need to Look at YTB Now
Star Power. With Fan Bingbing as the tourism ambassador, Encore Melaka is set to attract huge crowds.
Strategic Partnership. STIG’s expertise will drive tourist traffic and ensure smooth operations.
Government Support. Visa-free entry for Chinese tourists and the “Visit Melaka Year” initiative will boost visitor numbers.
Unique Cultural Asset. Encore Melaka’s high-tech design and unique cultural offerings make it a standout destination.
Profit Potential. The revamped Encore Melaka is expected to turn YTB into a highly profitable company.
Conclusion
Yong Tai Berhad is poised for a major turnaround. With strategic partnerships, government support, and the star power of Fan Bingbing, YTB is set to become a highly profitable player in Malaysia’s cultural tourism scene. This is a golden opportunity for investors to get in on the ground floor of something big!
$YONGTAI / 7066 (YONG TAI BERHAD)
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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR THE "COMPANY")
PRIVATE PLACEMENT
$YONGTAI / 7066 (YONG TAI BERHAD)
Quarterly rpt on consolidated results for the financial period ended 31/03/2024
OTHERSCHANGE OF EXTERNAL AUDITORS
Additional Listing Announcement /Subdivision of Shares
Additional Listing Announcement /Subdivision of Shares
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "THE COMPANY")
PRIVATE PLACEMENT
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR THE "COMPANY")
PRIVATE PLACEMENT
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR THE "COMPANY")
PRIVATE PLACEMENT
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGYONG TAI BERHAD ("YTB" OR "COMPANY")
ISSUANCE OF UP TO 180,000,000 NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN YTB ("RCPS") AT AN ISSUE PRICE OF RM1.00 PER RCPS ("ISSUANCE OF RCPS")