With the private placement announced on 13.04.2020 And volume building up, it is likely once the resistance of rm0.320 break, it will move up at a good percentage
Further study on the announcement on private placement on 10% of the issue paid up capital dated 25.02.2020. Based on paragraph 2.1 on the announcement, the price of allotment shall be determined separately
By the board at a later date. “For illustration pilurpose, assuming the placement shares are issued at an indicative issue price of RM0.48 per Placement share ( “Indicative issue Price) based on approximately 9.72% discount to the 5D-VWAMP of Widad......gross proceeds to raise app RM117.82 mil”
Further details on the fund proposed utilisation on the proposed placement dated 25.02.2020 as follows:- Future expansion of business RM70 mil Working capital requirements RM43.9 mil Estimated expenses on this proposal RM3.9 mil Total estimated proceed. RM117.8 mil From the above, it seem reasonable mix on proposed proceed utilization which is to generate income if the whole exercise completed.
Volume for Widad has been build up steadily at approximately 15 mil shares (16.04.2020) and 11 million (15.04.2020) with the price break resistance of RM0.340 and touching RM0.350 as at yesterday. This give investors a good chance to track the this counter for potential rally couple with dow Jones future show sign of up at above 700 points at this particular moment.
With the company acquired Serendah Heights Sdn Bhd and Innovatif Mewah Sdn Bhd which expect cash generation from the group in long term. furthermore, the group revenue 90% generated from government related projects, the cash generation will likely to have minimum impact from current situation. The article was by China Press interview with the Group Managing Director Dato Mohd Rizal on 31.03.2020 and contain positive outlook to the group
Based on recent announcement dated 27.04.2020, Tan Sri Muhammad Ikmal acquired 7,940,000 shares at RM0.50 represents 0.323% and increased Tan Sri holding to 57.389% (direct or indirect). With the acquisition at rm0.50 per share by Tan Sri yesterday announcement, it has shown the confidence of the major shareholder on the company weather directly or indirectly company outlook from the recent announcement on purchase of company share at RM0.50 per share.
With the G7 classification licenses issued by Construction Industry Development Board Malaysia, which allow its to tender for government contract value in excess RM10 mil. With its subsidiaries involved in construction and Integrated Facilities Management (IFM). With it experience in IFM, the group secured contract in provide IFM services to National Place located in Jalan Duta, Kuala Lumpur as well as JB Sentral in Johor. The Group is confident to secure more IFM contracts in future based on its annual report release
28-Jul-2020 Insider TAN SRI MUHAMMAD IKMAL OPAT BIN ABDULLAH (a substantial shareholder) disposed 40,980,000 shares on 27-Jul-2020. 28-Jul-2020 Insider WIDAD BUSINESS GROUP SDN. BHD. (a substantial shareholder) disposed 40,980,000 shares on 27-Jul-2020.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
145921_wjy
313 posts
Posted by 145921_wjy > 2020-04-07 23:49 | Report Abuse
widad coming big resistance at 0.320. If possible to break, next level will be 0.360.