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Update PNB trims direct stake in UMW Holdings

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Update PNB trims direct stake in UMW Holdings Empty Update PNB trims direct stake in UMW Holdings

Post by Cals Wed 24 Sep 2014, 02:34

Update PNB trims direct stake in UMW Holdings
Business & Markets 2014
Written by Shalini Kumar of theedgemalaysia.com   
Tuesday, 23 September 2014 19:18

KUALA LUMPUR (Sept 23): Permodalan Nasional Bhd (PNB) has ceased to be a substantial shareholder in UMW Holdings Bhd, following the disposal of 10 million shares on Sept 17. 

However, PNM is still deemed interested in UMW Holdings through Amanah Raya Trustee Bhd, which is the single largest shareholder holding a 40.72% stake, according to the latest annual report. 

The previous filings with Bursa Malaysia, PNB had 68.6 million shares or a 5.87% stake in the group as at Aug 18. PNB now has 58.6 million shares or 5.01%, following its share disposal.

For the second quarter ended June 30, net profit fell 43% to RM142 million, from RM251 million. Revenue increased to RM4 billion, from RM3.5 billion. 

UMW Holdings share price has gone up 14.6% or RM1.57 since June 19. The stock closed at RM12.28 today, after it hit a year's high of RM12.43 on Aug 22.
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