[%AiIY%] 
Research by Maybank
N/A

"Ceasing Coverage"

UMW was successfully delisted on 19 Feb 2024 after Sime Darby has secured 98.88% of UMW shares at the close of its Mandatory General Offer (MGO). Consequently, we are ceasing research coverage of UMW. Investors should no longer depend on our financial forecasts in making investment decisions nor infer an adverse opinion as a result of our decision to cease coverage. Our last call on UMW was a BUY, with a TP of MYR6.22 based on 14x FY24E PER, 5Y 12M fwd mean.

Analyst(s):
Loh Yan Jin 
[%PjmK%]

$KLSE-UMW 
Research by Maybank
N/A

"Ceasing Coverage"

UMW was successfully delisted on 19 Feb 2024 after Sime Darby has secured 98.88% of UMW shares at the close of its Mandatory General Offer (MGO). Consequently, we are ceasing research coverage of UMW. Investors should no longer depend on our financial forecasts in making investment decisions nor infer an adverse opinion as a result of our decision to cease coverage. Our last call on UMW was a BUY, with a TP of MYR6.22 based on 14x FY24E PER, 5Y 12M fwd mean.

Analyst(s):
Loh Yan Jin 
lohyanjin.loh@maybank-ib.com