SHAH ALAM: UMW Holdings Bhd will spend more for capital expenditures (capex) this year, allocating RM2.7bil for the entire group, which is an 80% rise from the RM1.5bil it spent last year.
“The oil & gas (O&G) division’s capex allocation is RM1.9bil, automotive about RM400mil, and the equipment division RM250mil,” UMW’s executive director at the group financial services division Azmin Yusoff said at its post-AGM press conference yesterday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!