KUALA LUMPUR (March 12): MBM Resources Bhd jumped 12.84% in early trade today after UMW Holdings Bhd said it plans to acquire a 50.07% stake in MBM Resources for RM501.04 million cash, and intends to follow up with a mandatory takeover offer for the rest of its shares.

At 9.04am, MBM rose 28 sen to RM2.46 with 95,000 shares done.

However, there is “no uncertainty” that UMW will follow through with the takeover offer, it said. Its initial offer for the controlling stake in MBM will close on March 28.

MBM holds an effective stake of 22.58% in Perodua. The company distributes vehicle brands including Perodua, Daihatsu, Hino, Mitsubishi, Volkswagen and Volvo. It also manufactures automotive parts such as heels, airbags, seat belts, steering wheels and noise, vibration and harshness products, with Malaysia as its principal market.

Meanwhile, UMW rose 4.71% or 28 sen to RM6.23 with 8,700 shares done.