Cash call likely for UMW

PETALING JAYA: UMW Holdings Bhd is likely to make a cash call by selling new shares to raise funds for the takeover of MBM Resources Bhd and an additional stake in Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

The acquisition plans, which will raise UMW’s equity interest in Perodua to 70.6% from the current 38%, have been received positively by analysts across the board.