UMW IS WELL UNDERWAY TO CONCLUDE THE COMPLETE EXIT FROM THE OIL & GAS SECTOR

KUALA LUMPUR, 2 January 2019– Following the announcement of the commencement of the member’s voluntary winding up (“liquidation”) for 4 of UMW’s subsidiaries under the Unlisted Oil & Gas segment on 31 December 2018, it has today announced the commencement of liquidation for 3 additional subsidiaries, namely:

 

Name of Company
Place of Incorportation
1. Arabian Drilling Services L.L.C., a dormant subsidiary of UMW
Oman
2. UMW Middle East Ventures Holdings W.L.L., a dormant subsidiary of UMW
Bahrain
3. UMW Oil & Gas Berhad, a wholly-owned subsidiary of UMW
Malaysia

 

President & Group Chief Executive Officer of UMW Holdings Berhad, Badrul Feisal bin Abdul Rahim, said: “The exercise is in line with UMW’s strategic plan to exit from its investments in the Unlisted Oil & Gas segment, in which we are making significant progress and well underway to conclude a complete exit from the sector. Following this, we will continue to execute our strategic initiatives to improve profitability and momentum, with stronger emphasis on growing our core businesses. With shareholder value creation in mind, moving forward the Group will focus on driving long-term growth through expansion and fostering innovation across our portfolio, balanced with a disciplined approach to capital investment.”

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UMW BERJALAN LANCAR DALAM MELENGKAPKAN STRATEGI KELUAR DARI SEKTOR MINYAK DAN GAS

KUALA LUMPUR, 2 Januari 2019– Berikutan dengan pengumuman permulaan penggulungan secara sukarela (“pembubaran”) bagi 4 anak syarikat UMW di bawah segmen Minyak & Gas Tidak Tersenarai pada 31 Disember 2018, hari ini telah mengumumkan permulaan pembubaran untuk 3 subsidiari tambahan, iaitu:

 

Name of Company
Place of Incorportation
1. Arabian Drilling Services L.L.C., a dormant subsidiary of UMW
Oman
2. UMW Middle East Ventures Holdings W.L.L., a dormant subsidiary of UMW
Bahrain
3. UMW Oil & Gas Berhad, a wholly-owned subsidiary of UMW
Malaysia

 

Ketua Pegawai Eksekutif UMW Holdings Berhad, Badrul Feisal bin Abdul Rahim, berkata: “Rancangan ini selaras dengan pelan strategik UMW untuk keluar daripada pelaburannya dalam segmen Minyak & Gas Tidak Tersenarai, di mana kami sedang membuat kemajuan yang ketara dan baik dijalankan untuk keluar sepenuhnya dari sektor ini. Berikutan itu, kami akan terus melaksanakan inisiatif strategik kami untuk meningkatkan keuntungan dan momentum, dengan penekanan yang lebih kuat dalam mengembangkan perniagaan teras kami. Untuk meningkatkan nilai pemegang saham, , Kumpulan akan fokus dalam memacu pertumbuhan jangka panjang melalui pengembangan dan memupuk inovasi di dalam portfolio kami, seimbang dengan pendekatan berdisiplin untuk pelaburan modal.”

 

 

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