UMW unit divests stake in Multicoat

PETALING JAYA: UMW Holdings Bhd’s wholly-owned unit, UMW Petropipe (L) Ltd (UPL), has divested its shareholding in Multicoat Coating Technologies Private Ltd (MCTPL) and Multicoat Surfaces Private Ltd (MSPL) for a combined worth of RM1.67mil.

In a note to Bursa Malaysia yesterday, the company said UPL had disposed of its 51% and 22.5% shareholding in MCTPL and MSPL respectively for RM1.51mil and RM146,548 respectively.