Widad gets RM120m contract to build new solid waste transfer station in Kepong

KUALA LUMPUR (Sept 26): Widad Group Bhd, formerly known as Ideal Jacobs (Malaysia) Corp Bhd, has secured an RM120.03 million contract to design and build a new solid waste transfer station in Taman Beringin, Jinjang Utara, Kepong here.

Its wholly-owned Widad Builders Sdn Bhd accepted the Letter of Award from Bumi Segar Indah Sdn Bhd that appoints it as sub-contractor to undertake the project, it said in a stock exchange filing yesterday.

Widad, which is primarily involved in piling works, sewerage systems, water retaining structures and other such related works, said the project will be financed via internal funds and external borrowings.

Its shares closed unchanged at 28 sen yesterday after 3.26 million shares were traded, giving it a market capitalisation of RM675.03 million. The stock has retreated some 14% since a year ago. The stock was trading between 22 sen and 39 sen apiece during that period.

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