WIDAD

0.015

(%)

OTHERS WIDAD GROUP BERHAD ("WGB", "WIDAD" OR THE "COMPANY") KUALA LUMPUR HIGH COURT SUIT NO. WA-22C-45-07/2025

WIDAD GROUP BERHAD

Type Announcement
Subject OTHERS
Description
WIDAD GROUP BERHAD ("WGB", "WIDAD" OR THE "COMPANY") 
KUALA LUMPUR HIGH COURT SUIT NO. WA-22C-45-07/2025

Unless otherwise defined, all abbreviations and definitions used herein shall have the same meaning as defined in the Announcement dated 26 November 2025.

 

Further to the Company’s Announcement dated 26 November 2025 in respect to the Kuala Lumpur High Court Suit No. WA-22C-45-07/2025, the Company wishes to announce the following additional information: -

 

1. To provide a confirmation as to whether Widad Builders Sdn. Bhd is a major subsidiary of WIDAD by stating clearly the percentage of its contribution over profit before tax or total assets employed of the Company on a consolidated basis as defined under Paragraph 1.01 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.

 

Widad Builders Sdn Bhd (“Widad Builders”) is a major subsidiary of Widad as defined under the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.

 

As at financial period ended 31 December 2024, Widad Builders’ loss before tax is RM28.54 million, representing 117.26% of Widad Group’s loss before tax of RM24.34 million. Total assets employed by Widad Builders is RM554.96 million or 53.43% of Widad Group’s total assets employed of RM1,038.65 million.

 

2.To state whether the litigation suit is expected to have any financial and operational impact to WIDAD Group.

 

Save for legal fees and disbursement involved to challenge and oppose the litigation suit, the Company does not expect any financial and operational impact to WIDAD Group arising thereon.

 

3.To state the reason for the delay in making an immediate announcement on the receipt of the lawsuit.

 

The delay in making an immediate announcement was due to the fact that the Defendant only bringing the matter to the Company’s attention in mid-November 2025.

 

Notwithstanding this, the Defendant has taken all necessary steps to defend itself at court. The Court has fixed the hearing dates for 1 and 2 December 2025.

 

Following the Board’s review and approval, the Company made the necessary announcement to Bursa Malaysia the next day, on 26 November 2025. The announcement was made the following day after the Board Meeting as the meeting ended rather late at 6.30 p.m.

 

The Company will continue to monitor the situation closely and make further announcements as required under the Listing Requirements.

 

This announcement is dated 28 November 2025.

 

 






Announcement Info

Company Name WIDAD GROUP BERHAD
Stock Name WIDAD
Date Announced 28 Nov 2025
Category General Announcement for PLC
Reference Number GA1-28112025-00052