UMW ups stake in UMW-OG to 55.17%

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KUALA LUMPUR (Dec 31): UMW Holdings Bhd (UMW) has upped its stake in its own oil and gas unit, UMW Oil & Gas Corp Bhd (UMW-OG), after acquiring an additional one million shares representing a 0.02% stake in UMW-OG on Dec 30. 

The latest acquisition means UMW's stake in UMW O&G is now at 55.17%, UMW told Bursa Malaysia in a filing today. It remains the largest substantial shareholder in the O&G firm.

UMW-OG's share price has been on a decline since the start of the year and reached a 52-week low of RM1.91 on Dec 16. Year-to-date, its share price has shed 41.4%.

It closed at RM2.35 today, up 2 sen. This gives it a market capitalisation of RM5.08 billion.

Meanwhile, UMW closed the day at RM10.96, down 4 sen, with a market capitalisation of RM12.87 billion.