Lower gearing: UMW Holdings’ headquarters in Shah Alam. The divestment of its stake in UMW Oil and Gas Corp Bhd is expected to more than halve UMW’s gearing while its total borrowings will be reduced by 67 from about RM8bil currently, said MIDF Research in a note.
Permodalan Nasional Bhd (PNB) will implement more major changes to its two top holdings – Sime Darby Bhd
and UMW Holdings Bhd – as part of it long-term strategy to unlock value and monetise the assets of both conglomerates, sources tell StarBizWeek.
PNB chairman Tan Sri Abdul Wahid Omar looks intent on making his mark on the fund by utilising his skills as a master restructurer.
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