KUALA LUMPUR: Widad Group Bhd, which was recently in the news for Human Resources Development Corp's (HRD Corp) interest in the company, yesterday announced changes in its boardroom with the appointment of founder, Tan Sri Muhammad Ikmal Opat Abdullah, and two news directors to its board.
As at April 2024, HRD Corp held a 3.12 per cent stake in Widad.
Muhammad Ikmal, Widad's biggest shareholder has been appointed as executive deputy chairman.
The company named its founder Tan Seri Muhammad Ikmal Opat Abdullah as its executive deputy chairman. Muhammad Ikmal is also its largest shareholder with 1.7 million or 0.06 per cent direct stake in Widad and 424.64 million or 13.71 per cent indirect stake via Widad Business Group Sdn Bhd.
The group also appointed Datuk Nasir Mat Dam as executive director and Datuk Boey Chin Gan as an independent and non-executive director.
Nasir holds a master's degree in development administration from Western Michigan University and currently serves as the vice-chancellor of Widad University College as well as a senior executive director of Widad Business Group.
Boey holds a degree in Bachelor of Arts from Universiti Kebangsaan Malaysia.
He sits on the board of Ecofirst Consolidated Bhd and Ajiya Bhd.
Widad was pushed to the spotlight after the Auditor-General's Report 2024 revealed that more than a third of HRD Corp's RM49.38 million unrealised investment losses came from its investment in Widad Group at 62-sen a share in 2020. The stock is currently trading at 6 sen a share.