PNB supports UMW’S consolidation plan

PNB group chairman Tan Sri Abdul Wahid Omar (left) together with PNB president and group CEO Datuk Abdul Rahman Ahmad posing after the media briefing on PNB Strategic Plan 2017 - 2022 at Grand Hyatt Hotel yesterday. IZZRAFIQ ALIAS / The Star. November 24, 2016.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB), which holds a 58.19% stake in UMW Holdings Bhd, is willing to support the company’s plans to consolidate its oil and gas (O&G) unit with other players within the industry if the need arises.

PNB group chief executive officer Datuk Abdul Rahman Ahmad (pic) said the consolidation might be an opportunity for UMW, as it could help the company withstand the challenges within the O&G industry.