General Announcement for PLC

24/10/2019

OTHERS PRESS RELEASE: RAM Ratings reaffirms Widad Capital's AA2 rating, revises outlook to positive

WIDAD GROUP BERHAD

Type Announcement
Subject OTHERS
Description 
PRESS RELEASE: RAM Ratings reaffirms Widad Capital's AA2 rating, revises outlook to positive

The Company wishes to announce that RAM Ratings has reaffirmed the AA2 rating of Widad Capital Sdn Bhd’s Sukuk Murabahah Programme up to RM110 mil in Nominal Value from stable to positive. The consistent financial performance in the past year with its sustainable performance has recorded FSCR of above 1.90 times and has exceeded RAM‘s expectation in reaffirming Widad Capital’s AA2 rating.

 

Widad Capital Sdn Bhd (“WCSB”) is a wholly-owned subsidiary of Widad Builders Sdn Bhd (“WBSB”). WBSB was awarded a comprehensive Facilities Management contract by GoM, valued RM490mil of The National Palace on Jalan Tuanku Abdul Halim, Kuala Lumpur. The contract was novated to WCSB on 25th July 2016, with WBSB appointed as the subcontractor to undertake facilities management work. WBSB is wholly-owned by Widad Group Berhad (“WGB”)  which in turn 67.89% is controlled by Widad Business Group Sdn Bhd (“WBG”). 

 

Please refer to the attachment for further details of this announcement.

 

This announcement is dated 24 October 2019.


Please refer attachment below.

Attachments

WIDAD - Press Release.pdf
98.7 kB


Announcement Info

Company Name WIDAD GROUP BERHAD
Stock Name WIDAD
Date Announced 24 Oct 2019
Category General Announcement for PLC
Reference Number GA1-24102019-00084


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