Widad gets RM190.5m job to build private hospital in Selangor

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KUALA LUMPUR (April 18): Widad Group Bhd, formerly known as Ideal Jacobs (M) Corp Bhd, has bagged a RM190.5 million contract to build a 200-bed multidisciplinary private hospital based in Selangor.

Its wholly-owned Widad Builders Sdn Bhd accepted the letter of award today from Wardah Properties Sdn Bhd appointing the former as the main contractor, its filing to Bursa said. The hospital is to be erected on a 3.43-acre land.

Wardah is a wholly-owned subsidiary of Widad Business Group Sdn Bhd, which in turn is a substantial shareholder and parent company of Widad, making the contract a related transaction.

In the filing, it said the design and submission stage shall need six months till Nov 2, and that construction will follow for the next 36 months.

Widad, which has fallen some 21% over the past one year, closed unchanged today at 26.5 sen, for a market capitalisation of RM650.48 million. Some 2.88 million shares were traded.