UMW Dec 2011

UMW: Source say UMW Holdings Bhd had made a similar presentation to the government’s investment fund. However UMW has confirmed that it had not submitted any bid to Khazanah Nasional Bhd to acquire its 42.7% stake in Proton. UMW also confirms that it is not in any form of discussion with any parties in this regard. It was reported that the Naza bid could be slightly higher than the rumoured price of RM6 to RM7 a share. A bid at RM7 a share values Proton at RM3.84 billion, which is a steep premium over its current market (15 Dec 2011) value of slightly over the RM2.1 billion mark.It is, however, still much lower than the national carmaker’s book value of RM5.4 billion or RM9.84 per share as at end-March 2011.