PETALING JAYA: Tan Sri Muhammad Ikmal Opat Abdullah (pix) has acquired 60.6 million shares or a 2.5% stake in the Widad Group Bhd at 54 sen per share, via his private vehicle Widad Business Group Sdn Bhd, in an off-market transaction on June 22.
The acquisition price of 54 sen represents a 6 sen or 12.5% premium over its closing price of 48 sen on June 23.
The acquisition brings Muhammad Ikmal’s total holdings in Widad Group to 64.2%.
“We remain positive on the future earnings with healthy profit margins seen in Widad Group’s past projects, and we believe that the management of Widad Group will continue to do the same for other concessions and new acquisitions that would spur growth for the group.
“We have faith in the current business models and believe that the company will thrive in the integrated facility management and construction industry when the market recovers,” he said.
