WIDAD GROUP BERHAD
KLSE (MYR): WIDAD (0162)
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Last Price
0.42
Today's Change
-0.005 (1.18%)
Day's Change
0.415 - 0.425
Trading Volume
56,378,600
Company Announcement
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Discussions
10 people like this. Showing 50 of 7,691 comments
it's a go go: https://www.nst.com.my/business/2022/11/856204/widad-langkasuka-taking-shape
2022-12-02 13:02
Under the agreement, WBG will control a 70% equity interest in the joint company, while BZI will own the remaining 30% stake. BZI is a leading conglomerate owned by Sheikh Khaled Zayed Al Nahyan, who is the senior member of the Abu Dhabi royal family. His business interests span across real estate management, and the construction of residential, commercial buildings and towers.
2022-12-06 12:08
LOI was awarded by the Ministry of Energy and Natural Resources to TNB’s wholly-owned unit TNB Power Generation Sdn Bhd (TPGSB)
2022-12-16 10:10
The project will be carried out by TPGSB, in collaboration with Widad Business Group Sdn Bhd a subsidiary of Widad Group Bhd and is scheduled for commercial operations in 2031.
2022-12-16 10:11
Widad Business Group it will hold a 40% stake in the project, while TNB will hold 60%.
2022-12-16 10:12
sir could you explain more about pp..why you said its time.. pp price was at 0.38 and current price now is 0.430. So
2022-12-21 15:19
hello widad disposed acquired disposed acquired disposed acquired . syiok sendiri ka. nothing doing at all
2023-03-03 15:42
Seems finally engine started. After sleeping so long, 0.80 or Rm1 is possible if operator want to goreng
2 months ago
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.
1 week ago
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2022-11-30 16:18