Widad regains footing in 2022 with RM1.6bil order book
KUALA LUMPUR: Widad Group Bhd is expected to continue to regain a firm footing for the financial year of 2022 (FY22), supported by its current total orderbook of RM1.6bil.
“Out of the RM 1.6bil total orderbook, 52% or RM832mil is contributed by integrated facilities management (IFM) business and concession. The construction sector contributes the remaining RM768mil.
“This orderbook is expected to keep us busy for the next three to five years for the construction segment and up to 12 years for IFM and concession segment,” managing director Datuk Dr Mohd Rizal Mohd Jaafar said in a statement.
Widad, a construction and IFM specialist, is upbeat to enhance its performance continuously and further expand its business through tenders and acquisition of the strategic business in FY22.
“As our country is at the recovering phase, we expect more projects to be
opened for tender in the market, and our strategy is to replenish our orderbook on a monthly basis which encompasses IFM and construction projects from the private and public sector,” Mohd Rizal said.
Last year, Widad managed to secure a total contract of RM545.1mil.
Widad has a healthy balance sheet and a sizeable asset of RM922mil. It is also in a cash position of RM180mil, demonstrating its ability to sustain the current business and future business expansion.