UPMHoldings was incorporated in May 2004 as the vehicle for commercialization of UPM's research products, and utilizing technologies, capabilities and expertise for smart partnership with Industries. In view of today's competitive corporate and global climate, UPMHoldings establishes three subsidiaries to fully utilize research and technological expertise as well as to promote life-long-learning.

The five subsidiaries are:

    UPM Consultancy & Services Sdn Bhd
    UPM Education & Training Sdn Bhd
    UPM Innovations Sdn Bhd (Formally known as UPM Research & Development Sdn Bhd)
    UPM International Sdn Bhd
    UPM Health Sdn Bhd