UMW MAKES GOOD PROGRESS ON ITS PLANNED STRATEGIC EXIT FROM THE UNLISTED OIL & GAS SEGMENT

KUALA LUMPUR, 31 December 2018– UMW Holdings Berhad has announced the commencement of the member’s voluntary winding up (“liquidation”) for 4 of its subsidiaries (“the subsidiaries”) under the Unlisted Oil & Gas segment. The subsidiaries that have commenced liquidation are:

 

Name of Company
Place of Incorportation
1. UMW Coating Technologies (Tianjin) Co. Ltd., a dormant wholly-owned subsidiary of UMW
2. PFP (Shenzhen) Piping Materials Co. Ltd., a dormant subsidiary of UMW
China
3. UMW China Ventures (L) Ltd, a dormant subsidiary of UMW
4. UMW Offshore Investment (L) Ltd, a dormant subsidiary of UMW
Malaysia

 

President & Group Chief Executive Officer of UMW Holdings Berhad, Badrul Feisal bin Abdul Rahim, said: “Despite the volatile oil price environment, we are making good progress on our planned strategic exit from the Unlisted Oil & Gas segment with exit plans in place for the several remaining subsidiaries. While we work on concluding the complete exit from the oil & gas sector, we will continue to focus on strengthening our core businesses with improved profitability and momentum. Our growth strategy moving forward will be underpinned by continued expansion in these three core segments to deliver value to our shareholders.”

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UMW MEMBERI KEMAJUAN YANG KETARA BERKAITAN PELAN STRATEGINYA KELUAR DARIPADA SEGMEN MINYAK DAN GAS

KUALA LUMPUR, 31 Disember 2018– UMW Holdings Berhad telah mengumumkan permulaan penggulungan secara sukarela (“pembubaran”) untuk 4 anak syarikatnya (“anak syarikat”) di bawah segmen Minyak & Gas Tidak Tersenarai. Anak-anak syarikat yang telah memulakan pembubaran adalah:

 

Nama Syarikat
Tempat Perbadanan
1. UMW Coating Technologies (Tianjin) Co. Ltd., a dormant wholly-owned subsidiary of UMW
2. PFP (Shenzhen) Piping Materials Co. Ltd., a dormant subsidiary of UMW
China
3. UMW China Ventures (L) Ltd, a dormant subsidiary of UMW
4. UMW Offshore Investment (L) Ltd, a dormant subsidiary of UMW
Malaysia

 

Ketua Pegawai Eksekutif UMW Holdings Berhad, Badrul Feisal bin Abdul Rahim, berkata: “Walaupun persekitaran harga minyak tidak menentu, pelaksanaan pelan strategik terancang untuk keluar daripada segmen Minyak & Gas yang tidak tersenarai berjalan lancar termasuk beberapa lagi anak syarikat. Seiring dengan usaha untuk keluar sepenuhnya dari sektor minyak & gas, kami akan terus memberi tumpuan dalam memperkukuhkan perniagaan teras kami untuk meperoleh keuntungan dan momentum yang lebih baik. Strategi pertumbuhan kami ke hadapan akan disokong oleh pengembangan berterusan dalam ketiga-tiga segmen teras untuk memberikan nilai kepada pemegang saham kami.”

 

 

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