UMW Oil & Gas Corporation Bhd
Holding company engaged in providing corporate management, administrative and professional services, as well as financial support to its subsidiary companies.
Its segments include drilling services, oilfield services, and others. Its drilling services segment provides drilling services and workover rig services to the upstream oil and gas sector. The oilfield services segment provides premium oil country tubular goods (OCTG) threading, repair and inspection services.
The others segment is involved in investment holding, provision of support services, management, and corporate services.
The drilling services segment owns and operates several drilling rigs and hydraulic workover units (HWUs), and acts as an agent for two providers of specialized equipment and service. The rigs are chartered out to oil companies for their exploration, development and production activities.
The total debts were flat from 2011 till 2013. In the last two years, the debts went from 1Bn to 4Bn while the oil collapsed.
Increase in inventories, triple in three years. I’m wondering what could be, maybe oil?
Property plant aand equipment triple in value in 3 years. That’s weird.
Debts are out of control. Total debts is 4.000 against 3.333 in equity.