UMW Holdings narrows losses in 4Q

By TMR

UMW Holdings Bhd reduced its net loss by 71.7% year- on-year (YoY) to RM432.67 million for the fourth quarter (4Q) ended Dec 31, 2017, on recognition of lower asset impairments and provisions.

In an exchange filing yesterday, UMW noted its revenue grew marginally by 0.3% YoY to RM2.95 billion as lower sales from the automotive unit offset gains noted in the equipment and manufacturing and engineering segments.