UMW still pursuing takeover of MBM Resources

Successful model: Perodua launched the new Myvi last year. MBM has a 22.58 stake in the company which is the largest and profitable local manufacturer of automobiles.

PETALING JAYA: Conglomerate UMW Holdings Bhd remains persistent in its takeover bid for MBM Resources Bhd despite being rejected once again by the latter’s major shareholders, who had also voiced their objections to UMW’s intention to engage with its key principals or brand owners a day earlier.

MBM holds dealerships for the Perodua, Mitsubishi, Volkswagen, Volvo, Daihatsu and Hino brands.