CEO Morning Brief

Widad’s Unit Wins RM117m Job to Build First Phase of Tok Bali Industrial Park in Kelantan

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Publish date: Thu, 23 Nov 2023, 09:04 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Nov 22): Widad Group Bhd’s unit has secured a RM116.8 million contract to build Phase 1A of the Tok Bali Industrial Park in Gong Kulim, Kelantan for the East Coast Economic Region Development Council.

The contract period spans 156 weeks starting from Dec 4, according to the construction group’s stock exchange filing on Wednesday.

Widad said its wholly owned unit Widad Builders Sdn Bhd accepted the contract from East Coast Economic Region Development Sdn Bhd.

Widad’s largest shareholder is Tan Sri Muhammad Ikmal Opat Abdullah, whose shareholdings have reduced to 36.34% as at Tuesday, from 50.17% as at Dec 23 last year.

Shares of Widad, which fell 18% in slightly over a month from a multi-year high of 56.5 sen on Oct 19, closed half sen or 1.1% higher at 46.5 sen on Wednesday, giving the group a market capitalisation of RM1.44 billion.

Source: TheEdge - 23 Nov 2023

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