KUALA LUMPUR: Permodalan Nasional Bhd (PNB), which holds a 58.19% stake in UMW Holdings Bhd, will bolster the organization's arrangements to merge its oil and gas (O&G) unit with different players inside the business if the need emerges.
PNB bunch CEO Datuk Abdul Rahman Ahmad (pic) said the union may be an open door for UMW, as it could help the organization withstand the difficulties inside the O&G business.
"Nonetheless, it is not that simple to do. What's more, I figure that is the motivation behind why there has not been any solidification as of not long ago on account of difficulties, in particular extraordinary shareholder prerequisites and necessities," he told journalists subsequent to reporting the salary appropriation of Amanah Saham Bumiputera and Amanah Saham Nasional here yesterday.
UMW Oil and Gas Corp Bhd's shares were among those that were gravely hit as an aftereffect of drooping oil costs.
"UMW is one of our vital organization and we have faith in a long haul reasonability of their organizations," Abdul Rahman said.
UMW is a modern undertaking with differing and worldwide interests in the car, hardware, assembling, and oil and gas parts.
Inquired as to whether there were O&G organizations communicating enthusiasm to merge their units with UMW Holdings, he said, "not yet".
Essentially, the car business, which UMW is likewise dynamic in, is additionally influenced by the monetary instability.
UMW collects and appropriates traveler and business vehicles, including Toyota and Perodua.
"Perodua is doing great, while Toyota is confronting a few difficulties, yet we are extremely sure with the new model coming up, the organization ought to do well one year from now," he included.
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