KUALA LUMPUR (AFX-ASIA) – UMW Ace (L) Ltd signed a memorandum of understanding (MOU) with Baoji Petroleum Steel Pipe Co Ltd to jointly invest 69 million yuan in pipe auxiliary material production lines in Pudong New Zone, Shanghai, parent company UMW Holdings Bhd said. (US$1=8.27 yuan). UMW Holdings’ 100%-owned unit UMW Petropipe (L) Ltd controls…