UMW Oil and Gas order book nearly RM2b

KUALA LUMPUR: CIMB Equities Research has advised investors to accumulate shares of UMW Oil and Gas (UMW-OG) due to the strong order book of RM1.9bil as at end-December 2014 and is seeking RM5.6bil of contracts.

“After building a solid presence in Southeast Asia, the company is on the verge of a new phase of international expansion, with a potential contract in the Middle East by year-end,” the research house said on Thursday.