CONSIDER the following, on November 24, 2022 Muhammad Ikmal Opat Abdullah VIEW : owned more than 51 per cent of Widad Group or some 1.399 billion Widad shares, and was an active buyer of Widad shares.
FLASH forward today, and Muhammad Ikmal Opat Abdullah has sold of more than 470 million shares, mostly in the OPEN MARKET to bring his current shareholding to VIEW : to just around 30.01 per cent of the company or 929.399 million shares
LONG seen as a favourite son or contractor of PAS, the Widad Group's rise to the top, seems destined for a major upheaval, after Dataprep Bhd, another company owned by Muhammad Ikmal Opat Abdullah, Dataprep Bhd, which is filled with directors from the Widad Group was sanctioned by Bursa Malaysia.
BUT does Widad Group Bhd's problem ends here or does it start at Menara Bangkok Bank? (That's a story for another day).
REGARDLESS, Widad's immediate problems are three fold, starting with the reality, READ : if you want to buy Widad Group Bhd shares you need to pay the full amount up front.
IF that is not bad enough, Widad Group Bhd's share price of 14 sen per share is JUST VIEW : TWO SEN above is Net Tangible Asset of 16 Sen per share
