Stiff competition: UMW Toyota Motor’s service centre in Rawang. UMW group’s automotive division continues to face intense competition while its margins were compressed by higher imported costs, following the persistent weakness of the ringgit.
PETALING JAYA: RAM Ratings expects UMW Holdings Bhd
to emerge stronger after it exits the loss-making oil and gas (O&G) sector but cautions that any delays will erode its retained earnings.
The ratings agency had reaffirmed the AA2/Stable/P1 ratings of UMW’s Islamic debt programmes.
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