us apple developer accounts for sale：Serendah Heights buy boosts Widad’s order book
,Widad group managing director Datuk Mohd Rizal Mohd Jaafar (pic) said the acquisition of SHSB expanded the group’s integrated facilities management service offerings into the education industry. KUALA LUMPUR: Widad Group Bhd’s order book more than doubled to RM1.5bil after it completed the purchase of Serendah Heights Sdn Bhd (SHSB). In a statement, it said SHSB’s unit YBK Usahama Sdn Bhd (YBKU) has a concession to develop the facilities and infrastructure as well as maintain the Universiti Teknologi Mara (UITM) campus in Jasin, Melaka. YBKU has another 13 years in the concession ending 2034, worth about RM791mil. YBKU had in May 2010 entered into a concession agreement with the government and UITM in May 2010. The acquisition of SHSB solidifies Widad’s position as one of the leading construction and integrated facilities management providers in Malaysia. Widad group managing director Datuk Mohd Rizal Mohd Jaafar (pic) said the acquisition of SHSB expanded the group’s integrated facilities management service offerings into the education industry. The acquisition boosted its order book of RM718.80mil to about RM1.5bil, he said. “Widad has been in the construction and integrated facilities management businesses for more than 20 years. “The acquisition is part of our corporate expansion strategy to strengthen the group’s revenue stream and cash flow position in the long run as well as to possess more solid long-term assets, ” he said. Rizal said the contribution from the UiTM campus project will present Widad with a stream of recurring cash flow streams from the remaining tenure of the concession. On Feb 19,2020, Widad had signed two conditional shares sales agreement to purchase SHSB for RM127.02mil. The first agreement was with the shareholders of SHSB – Prihatin Ehsan Holdings Sdn Bhd and Training Camp Aabata Sdn Bhd – to buy a 90% stake or 4.5 million SHSB shares for RM114.62mil via cash and issuance of new ordinary shares in Widad. It acquired the remaining 10% or 500,000 shares for RM12.40mil cash from Just Wisdom Sdn Bhd. Widad’s core businesses are construction and integrated facilities management services.
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