United States

Analyst Research Report Snapshot


UMW - UMW plans to sell 3 companies under Teraju’s program




Affin Hwang Investment Bank Bhd


18 Jul 2012





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Newsflow Business Times reported that PNB, through its investee company UMW, is planning to sell 3 firms, namely U-Travelwide Sdn Bhd (U-Travel), U-Insurance Sdn Bhd and Inobel Sdn Bhd to qualified Bumiputera entrepreneurs. The offer for sale was advertised on Business Times yesterday. At a Bumiputera Agenda Action Council meeting on February 9, Prime Minister Datuk Seri Najib Razak announced that PNB would sell five assets to Bumiputera companies. On May 31, PNB announced plans for the sale of its first non-core company, FEC Cables (M) Sdn Bhd. The disposals are part of the plan by Unit Peneraju Agenda Bumiputera (TERAJU), a unit under the Prime Minister's Department, to grow and enhance Bumiputera entrepreneurship.

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