Revenue
Revenue for the quarter ended 31 March 2023 (“1Q2023”) increased by 21% against
preceding year corresponding quarter (“1Q2022”), mainly contributed by the construction
segment. However, the IFM segment dropped significantly following expiry of contract to
maintain the national palace in second quarter of FYE2022.
On the back of the revenue, the Group achieved profit amid lower amount and margin as
compared to 1Q2022. This is mainly due to lower gross margin from construction projects.

The Group revenue for 1Q2023 was 96% higher against 1Q2022. Construction segment
continued its recovery momentum whereby it achieved 132% increase quarter-to-quarter.
This segment contributed 94% of Group’s revenue for 1Q2023 (1Q2022: 79%).
In terms of profitability, the Group achieved gross profit of RM6.69 million and net profit before
tax of RM0.63 million, a recovery from loss position in 1Q2022. Previous quarter loss was due
to downward revision of projects’ estimated profits due to costs escalation.

Prospects
The Group is optimistic of its prospects to improve its financial results for the financial year ending
2023, propelled by its remaining order books amounting RM1.52 billion, contributed by
construction segment amounting RM0.66 billion and IFM/Concession segment amounting RM0.86
billion.
The Group continues to participate in public and private sector tenders and explore opportunities
that could provide long term and stable revenue and cashflow stream. As explained in Note A12,
the Group completed the acquisition of Palm Shore Holdings Sdn Bhd, a company that owns
concession business to construct and maintain TLDM training camp in Johor. As at the date of this
report, PSHSB has remaining concession period of another seventeen years.
The Group is continuously monitoring its business operations to ensure it is driven towards greater
level of efficiency, productivity, competitiveness and good governance.

Proposed Private Placement Exercise
On 21 July 2022, on behalf of the Board of Directors of Widad Group Berhad (“Widad”), M&A
Securities Sdn Bhd announced that the Company proposes to undertake a private placement
of up to 259,250,000 new ordinary shares in Widad, representing not more than 9.42% of the
issued ordinary shares in Widad (“Proposed Private Placement”)
On 3 August 2022, M&A Securities Sdn Bhd, on behalf of the Company announced that the
listing application to Bursa Malaysia Securities Berhad in relation to the Proposed Private
Placement has been submitted on even date.
Further on 16 August 2022, M&A Securities Sdn Bhd, on behalf of the Company made an
announcement that Bursa Securities had, vide its letter dated 16 August 2022, approved the
listing of and quotation for up to 259,250,000 new ordinary shares to be issued pursuant to
the Proposed Private Placement on the ACE Market of Bursa Securities subject to the following
conditions:
a) Widad and M&A Securities must fully comply with the relevant provisions under the
Listing Requirements pertaining to the implementation of the Proposed Private
Placement;
b) Widad and M&A Securities to inform Bursa Securities upon the completion of the
Proposed Private Placement; and
c) Widad to furnish Bursa Securities with a written confirmation of its compliance with the
terms and conditions of Bursa Securities’ approval once the Proposed Private Placement
is completed.
On 29 November 2022, the Board of Directors of Widad announce that the resolution for the
proposed waiver of statutory pre-emptive rights of the shareholders was duly passed at the
Extraordinary General Meeting held on even date.
On 15 February 2023, on behalf of the Board, M&A Securities announced that Bursa
Securities had vide its letter dated 15 February 2023, approve an extension of time of 6 months
up to 15 August 2023 to complete the implementation of the Private Placement.
To date Widad has issued 64,075,000 at price between RM0.3820 to RM0.40 per Placement
Shares and the Company is in the midst of securing potential investors for the implementation
of the balance of 195,175,000 placement shares.

The US debt ceiling crisis surely brings more tremors to the world before finalised n approved.. READ : https://www.investing.com/analysis/will-the-us-default-200638346

Hence, 0.025 could be possible in the worst case scenario...

Its normal ... everyone could sign MoU but stated it like classified customer..
Can inflate maximum possible trades value worth millions or billions.. but later end up just 1K 1Mil etc who enforce anyway...

Sell land .. cancelled...
Sell sand worth billions ... also cancelled... from the very beginning very fishy.. from where they gonna dig sand worth billions and transport to China..?? China even got bigger land..

Innov8tif.. from GPacket related n HP related.. then now call off..

Projects cancelled... where was the due dilligence in the first place?

Who won the award? https://www.theedgemarkets.com/node/666418

Strong support at 0.040... just like SERBA n SAP.. not long time ago..

someone could just privately harvest the goldmine if delisted...

Traps.. any slight gain will be TP with expectation for further down... hhuhu

Typical... auditor run away... anoher U Hacker become auditor.. huhu..

If this co not running data center, better change its name ... Whoever has DATAPREP pls run datacenter business...!!

DATA CENTER :

https://www.msn.com/en-my/news/national/location-for-third-huge-data-centre-being-finalised-says-anwar/ar-AA1aQEgY

There should better transparency in gold mining activities..

THEORY :
#Reported weight got adjusted to cause net loss...
#Extra weight supposedly becoming profits goes to hidden hands..

WIth better transparency we guaranteed that every gram goes into company's revenue..

We dont want gold mining companies reporting losses...

----------

Muyutin

2017 TAT TIME GOLD PRICE AROUND USD1300


THEY CALCULATE WHEN GOLD PRICE REACH USD1600
COMPANY ACTUALLY PROFITABLE

UNFORTUNATELY GOLD PRICE HIT USD1800 THEY GIVE REASON FOR TAMBAH EQUIPMENT AND RAINNY SEASON OR SON PASSED AWAY WATEVERLA

NOW USD2000 GOLD PRICE
HE WAN STOP THE PRODUCTION

1 hour ago

never cross original prices..

if got PP/SIS you know someone could exit then.. left everyone else trapped..

Hmmm... so many conmen already in past few years... How to stop these kind of cons...??

The owner of the land could claim max value based on whatever calculation method... technically the co could lose soo much on claims...

Pls name one gold mining company in Malaysia profitable...!!!

Something is wrong...
--‐---
Springtime

The coming QR should be better than the previous QR plus a load of gold not reported to prompt the infighting.

2 hours ago

REALLY a joke in the world..!!!! Conflict of interest..

Small investors could also see possible insider manipulation to move the RM20mil money... SC pls help us...

beware of trap.. move for a day .. sleep like forever...

Hong Seng Project?? kakakaka... what project stage now?? uptrend stage?

What project?

The problems to existing practices bad companies got room to sweep bad features hidden under the carpet and still pass though SC ML requirements for some extended time... When things went broke, investors finally realise the actual situation and at that time it was too late...

Seen in many delisted companies..

They dont have leftover money to fight unlike SERBA...

Another dead con fate likely to follow similar to serba...

Does he smell turnaround impossible due to huge debt???

Reflecting 3 years back.. from so much glory to now grounding to the ground .. risking towards a complete halt...

If u follow AGESON will see how from 0.015 consolidated 0.50+ and now back to 0.045.. chances it may get back towards 0.015... Whatever the dramas, shareholders shares are milked away....

It's a trap... u set stop loss and the shark plan that to reach stop loss level.. They collected and sell higher.... if more joining they plan the exit distribution...

No different than AGESON.. LU also possible but never cross original before conso

0.015 is coming closer... not long ago was 0.015.... Consolidation .. 0.50+.. now here we are...

pump n dump?

Buy and sell back all AT 0.010.. LOL.. never cross 0.015.. Commonly this will lead to consolidation with justification that the price is hard to move..

every penny in this stock got equal chances to be squeezed up till dry...

looks like heading back to 0.015 if no intervention...

Amazon related project???

hmmm... u enter they will see.. at their mercy to trap u or not...

When I posted that a news required for recent hike, next day they publish news related to tourists for that...

Then later Gold Mine cancellation...

Do you trust their MoUs after several setbacks ?
------------------
Michael R.

if u enter the price could be dropped later.....as long as there is now news to support.. hehehhee.. that's how cheap counters work...

1 week ago

U trust PAKUKHAS will rally up after consolidation????

Back above RM1+

No UMA if LU since got news..

Hahahaha.. won a project as expected.. that justified yesterday's breakout..

Got news related to new project??? looks to fly...

if u enter the price could be dropped later.....as long as there is now news to support.. hehehhee.. that's how cheap counters work...

Later they could complain that the shares cant move to justify consolidation...

Consolidation is likely.. unless if no one else left

Above RM1 pls

Power up¡!!

This QR shows that this co if to recover will require a long path to pass through..

Look if EPF joining back again...