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Corporation BHD is a marginal investor. If the shares are traded consistently, theremight be a chance that YTL Corporation loses the controlling interest in its subsidiary.Instead, holding the shares would be the best choice for them as it ensures controllinginterest as well as a return of dividends. Therefore, YTL Corporation BHD can beclassified as a non-marginal investor. al%20Berhad-AnnualReport2017.pdf.9 “Institutional Investor,” Investopedia, accessed April 21, 2018, .10 “Identifying the Marginal Investor,” Finance Analysis, accessed April 21, 2018, -investor.html.11 “YTL Power Annual Report 2017,” YTL Power International Berhad, accessed April 21, 2018, al%20Berhad-AnnualReport2017.pdf.12 “YTL Power Annual Report 2017,” YTL Power International Berhad, accessed April 21, 2018, -AnnualReport2017.pdf.
Moving on, the third largest shareholder with a 6.25% holding is Cornerstone CrestSDN BHD. It is a wholly owned subsidiary of YTL Corporation BHD. The nature ofthe firm’s business is investment holding.13As such, it is a company bought over byYTL Corporation BHD to hold stocks on behalf of them. This type of company earnsincome from the payment of dividends, rent, or interest by owning shares of othercompanies and not through trading. Therefore, Cornerstone Crest SDN BHD can beinferred as a non-marginal investor of YTL Power International BHD. On the same reporting period, YTL Power’s fourth largest shareholder is Yeoh TiongLay & Sons Holdings SDN BHD. Based in Kuala Lumpur, it is a holding companywhich through its subsidiaries, operates hotels and resorts. Besides that, it owns andmanages regulated utilities and infrastructural assets in Malaysia, Singapore, and theUnited Kingdom.14Yeoh Tiong Lay (YTL Corporation’s Managing Director) owns apart of his stake in YTL Power through Yeoh Tiong Lay & Sons Holdings SDN BHD.Although there is no information pertaining as to whether or not he is this holdingcompany’s managing director, based on the name of the company, it is safe to assumethat he has a large and influencing stake in this firm. Therefore, he can be classified asa company insider, and thus a non-marginal investor. This company is most likely justanother firm which is used to hold shares of YTL Power. The next top 16 shareholders consist of 7 nominees, 4 trustees, 2 holding companies,and 3 fund management companies. Based on the figures given, it can be inferred thatthe significant portion of YTL Power’s shareholders are non-marginal investors whichholds controlling interest in the firm and are just looking for dividend returns.