Results were weighed down by the drilling services and oilfield services segments that reported lower revenues mainly due to softer time charter rates from drilling contracts and weaker demand for oilfield services
PETALING JAYA: Shareholders of UMW Oil & Gas Corp Bhd (UMW-OG) have been advised to support the proposed exemption for Permodalan Nasional Bhd (PNB) from undertaking a mandatory offer following the group’s planned RM1.8bil rights issue.
In an independent advice circular, Mercury Securities said voting against the proposed exemption would result in the group not being able to undertake the fund-raising exercise, as the two were inter-conditional.
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!
