UMW to keep options open on MBM Resources deal

Tan Sri Datuk Seri Hamad Kama Piah Othman at Post-AGM Media Briefing yesterday. - Art Chen/The Star

SHAH ALAM: UMW Holdings Bhd will not review its offer price for a controlling stake in MBM Resources Bhd at this juncture. But the diversified conglomerate says it will keep an open position so that it can continue to engage with the parties involved in the deal.

According to UMW group chairman Tan Sri Hamad Kama Piah Che Othman, the offer of RM501mil, or RM2.56 per share, to acquire a 50.07% stake in MBM from Med-Bumikar Mara Sdn Bhd would remain unchanged for the time being, despite reports about Med-Bumikar Mara seeking a higher price for its stake in MBM.