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Rig operator's move sparks rush for the exit

UMW Oil & Gas slumps to new low as investors query steep premiums in its acquisition of Icon and Orkim

Kuala Lumpur

SHARES of Malaysian drill rig operator UMW Oil & Gas Corporation (UMWOG) slumped to a new low of 68 sen on Monday as investors reacted negatively to a proposed consolidation with two other sector players amid the oil price slump. Even at the worst of the oil price...

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