UMW Oil and Gas Naga 1 rig
PETALING JAYA: CIMB Research, which has resumed coverage on UMW Oil & Gas Corp Bhd (UMW O&G), expects a better earnings outlook for the company on the back of financial support from its parent and from its bankers.
“UMW O&G entered 2016 with 50% of its debt due within the year but the company has since swapped a large portion of its short-term debt with long-term debt and is still seeking bank participation for more long-term financing.
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