Business News

Published: Wednesday February 6, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:36:55 AM

UMW down in line with weaker market sentiment

KUALA LUMPUR: Shares of UMW Holdings Bhd fell in mid-morning on Wednesday, in line with the weaker market sentiment despite analysts' positive outlook for the oil-gas and automobile company.

At 10.17am, UMW was down 16 sen to RM12.02. There were 283,600 shares done.

The FBM KLCI fell 14.35 points to 1,619. Turnover was 283.93 million shares valued at RM269.86mil. Losers beat gainers 304 to 80 while 229 counters were unchanged.

CIMB Equities Research is maintaining its Outperform on UMW and raised its revised net asset value-based target price by 10% to RM14.45.

It said the higher target price was mainly due to the impact of the weakening US dollar and yen on the group's auto business.

On Tuesday, UMW's O&G unit secured a US$140mil contract from Sabah Shell.

Tags / Keywords: News, Business, UMW Holdings, weaker market sentiment, US$140mil contract, Sabah Shell, Business


  1. Property transactions dip, but house prices continue to rise
  2. 1MDB's annual land assessments set a precedent
  3. Bulk of 1MDB loans guaranteed by Govt
  4. 1MDB and US firm in solar tie-up
  5. Liew's 2.76% stake in S P Setia traded off-market at RM3.95 per share
  6. Daya Materials, Italy's Cimolai in mobile straddle transporter
  7. M'sian property market falls 10.9% in volume, rises 6.7% in value
  8. Auditors highlight several critical areas in 1MDB's books
  9. Malaysian billionaire Quek to take slice of Alam Maritim?
  10. 1MDB placed RM12.5bil out with foreign fund managers