UMW Holdings Bhd has announced the commencement of the member’s voluntary winding up (“liquidation”) for four of its subsidiaries under the Unlisted Oil & Gas segment. The subsidiaries that have commenced liquidation are:
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UMW Holdings Bhd has announced the commencement of the member’s voluntary winding up (“liquidation”) for four of its subsidiaries under the Unlisted Oil & Gas segment. The subsidiaries that have commenced liquidation are:
“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.”President & Group Chief Executive Officer of UMW Holdings 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.”