IKMAL FURTHER UPS STAKE IN WIDAD
Tycoon buys another 186m shares to own 71.99pc of firm
TAN Sri Muhammad Ikmal Opat Abdullah, in his personal capacity and through his private entity Widad Business Group Sdn Bhd (WBG), has acquired 186.05 million shares, or a 7.58 per cent stake, in Widad Group Bhd.
The acquisitions were made via several open market and off-market transactions last Thursday and Friday.
The transactions have increased Ikmal’s stake in the listed entity to 71.99 per cent.
Widad said in a statement yesterday this had once again sent out a message about his confidence in the prospects and business model of the company.
Based on filings with Bursa Malaysia last Friday, Ikmal acquired 6.05 million shares, or a 0.25 per cent stake, from the open market and an off-market transaction last Thursday.
In another off-market transaction last Friday, he bought a block of shares totalling 180 million units, or a 7.33 per cent stake, via WBG.
The move follows his major acquisition of 60.61 million shares, or a 2.5 per cent stake, in Widad on June 22 that raised had his total stake in the company to 64.2 per cent.
Currently, Ikmal has a direct and indirect shareholding of 4.8 and 67.19 per cent, respectively, in Widad for a total shareholding of 71.99 per cent.
He is the founder, group executive chairman and group leader of WBG, which provides jobs to more than 1,500 people nationwide.
The group’s businesses include integrated facility management, construction, operations and maintenance, mechanical and electrical services, building automation system, energy management, property development, education, media and information, communications and technology services, hospitality, aquaculture and oil and gas.