us apple developer accounts for sale：Widad Group’s order book more than doubles to RM1.5b
,Group managing director of Widad Group, Datuk Mohd Rizal Mohd Jaafar said the acquisition of SHSB expanded the group’s integrated facilities management service offerings into the education industry. KUALA LUMPUR: Widad Group Bhd’s order book more than doubled to RM1.50bil after it completed the purchase of Serendah Heights Sdn Bhd (SHSB). In a statement on Friday, it said SHSB’s unit YBK Usahama Sdn Bhd (YBKU) has a concession to develop the facilities and infrastructure, as well as maintain the Universiti Teknologi MARA (UITM) campus in Jasin, Melaka.YBKU has another 13 years in the concession ending 2034 totalling about RM791mil. YBKU had in May 2010 entered into a concession agreement with the government and UITM in May 2010. The acquisition of SHSB solidifies Widad Group’s position as one of the leading construction and integrated facilities management providers in Malaysia. Group managing director of Widad Group, Datuk Mohd Rizal Mohd Jaafar said, the acquisition of SHSB expanded the group’s integrated facilities management service offerings into the education industry. The acquisition boosted its order book of RM718.80mil to about RM1.5bil, he said. “Widad Group has been in the construction and integrated facilities management businesses for more than 20 years. “The acquisition is part of our corporate expansion strategy to strengthen the group’s revenue stream and cash flow positions in the long run as well as possess more solid long-term assets, ” he said. Mohd Rizal said the contribution from the UiTM campus project will present Widad Group with a stream of recurring cash flow streams from the remaining tenure of the concession. On Feb 19,2020, Widad had signed two conditional shares sales agreement to purchase SHSB for RM127.02mil. The first agreement was with the shareholders of SHSB -- namely Prihatin Ehsan Holdings Sdn Bhd and Training Camp Aabata Sdn Bhd -- to buy a 90% stake or 4.5 million SHSB shares for RM114.62 million via cash and issuance of new ordinary shares in Widad Group. It acquired the remaining 10% or 500,000 shares for RM12.40mil cash from Just Wisdom Sdn Bhd. Widad Group’s core businesses are construction and integrated facilities management services.
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