DOW Historics

DJIA has been making a couple of histories this week, from the biggest drop in a single day to the biggest gain in a single day. The market turmoil is still brewing and the approval of $1 trillion to banks by the EU has led some confidence back to the market. but this could just be another relief rally and might suffer a drop again once a more realistic picture is painted like the details of the bailout and all that.

YTLPOWER has been resilient so far, not budging much from it's RM1.70 range although the lowest it registered was RM1.60. I wonder if they are going to bid for the next power company for sale in Singapore by Temasek Holdings. Seraya Power is next to be sold of after successfully selling off Senoko and Tuas Power. The usual suspects would be there including Singapore's Sembawang Corp who said if it can't secure any power plants, it will intend to build it's own if they need one. I hope YTLPOWER make another attempt for Singapore's utility business.

Seraya Power is situated in Jurong Island supplying mostly to Oil & Gas refineries and processing plants in the area. These are huge companies like Shell and Exxon capable of building their own power generators but Seraya Power will be their backup grid. With more reclamations and companies being set up in Jurong Island, the consumption might grow over time and Seraya Power location will make it ideal to draw power from them.

Capable of generating 2800 mega watts of power or almost 28% of electricity in Singapore, and if the last sale was an indication. The going rate is about $1 million for each mega watt.