YTL Corp Bhd ’s acquisition of a 51% controlling stake in Lafarge Malaysia Bhd has lit up an otherwise dreary merger and acquisition scene in Malaysia.

The RM1.6bil deal is also illustrative of the fact that strategic investors à la the YTL group see longer-term value in assets that public markets do not necessarily fully value.

The conglomerate is known for its bargain-hunting strategy. The acquisition of Lot 10 and its surrounding areas at the height of the financial crisis in 1998 underlines this.

Similar strategies were adopted in its pursuit of assets overseas such as Wessex Water Ltd in the United Kingdom and Singapore’s PowerSeraya power plant.

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