Widad Secures RM244 Million Contract With JKR for the Kota Bharu-kuala Krai Expressway Project

0 2

Widad Group Bhd stated that its wholly-owned subsidiary Widad Builders Sdn Bhd (WBSB) accepted a letter of award (LoA) from the Malaysian Public Works Department (JKR) on Wednesday for an RM244.3 million contract to construct Package 3C of the Kota Bharu–Kuala Krai Expressway (KBKK) in Kelantan.

The business stated in a Bursa Malaysia statement on Wednesday that construction will begin on December 27 this year and is expected to be completed within three years.

“Despite the difficult market, we continue to be aggressive in securing new projects and are optimistic about taking on further construction and integrated facility management projects this year.

“With the progress we’ve made in securing our order book, we’re confident in our ability to continue to lead these industries as a formidable player.

“We are also hopeful about reaching our major performance objectives and maintaining our financial performance this year,” Widad managing director Datuk Mohd Rizal stated separately.

Additionally, he disclosed that Widad has received contracts worth RM545.7 million for 2021, boosting the group’s entire order book to about RM1.74 billion.

He emphasised that the organisation is already working on enough projects to keep it busy for the next three to five years.

“Among the contracts won by the group in recent months are an RM53.2 million contract to build a school in Bangi, Selangor; an RM29 million project to manage and maintain the Royal Brunei Naval Base’s facilities; and RM129.4 million and RM89.8 million state government projects to upgrade water treatment plants in Kuala Muda and Baling, Kedah, respectively.

Widad’s shares finished unchanged at 38 sen on Wednesday, valuing the company at RM1.05 billion.

Published by Zack Baharum

Leave A Reply

Your email address will not be published.