Reference is made to the announcement of the quarterly report on consolidated results for the financial period ended 30 June 2019 (“Q2 Results”) dated 27 August 2019 and the amended announcement on Q2 Results released today.

UMW Holdings Berhad (“the Company” or “UMW”) wishes to highlight that it had inadvertently omitted an elimination for the reversal of provision for a financial guarantee amounting to RM27.0 million in the earlier Q2 Results announcement. This has given rise to an adjustment being made to the Group’s profit before taxation from RM179.1 million, as disclosed in the earlier announcement on Q2 Results dated 27 August 2019, to RM152.1 million under the revised financial results announcement. Relevant consequential amendments to Q2 Results have also been made accordingly, where the PATAMI for 2Q 2019 is now adjusted from RM84.2 million to RM57.2 million and the 2Q 2019 earnings per share adjusted from 7.21 sen to 4.90 sen.

The Board, via its Audit Committee, wishes to emphasise that it views the incident seriously and has instructed management to conduct an in-depth review of all processes to ensure that sufficient controls are in place. Management has also taken immediate steps to strengthen the Group’s financial disclosures to ensure such incidents do not recur in the future.

The Company assured that this incident relates to a singular item and does not affect the accuracy of any other published announcements. UMW is fully dedicated to its responsibilities as a public listed company and committed to continue upholding best practices in corporate disclosure.