Iswardy Morni.
Apa punya tangkal daaa kau pakai sanusi. Widad pun dah jatuh teruk sekarang
The low-profile tycoon, who once made the audacious RM5.3bil takeover bid for highway operator PLUS Malaysia Bhd, has sold close to 408 million shares in construction outfit Widad since the start of 2024.
He has also disposed of more than 28 million shares in information technology (IT) firm Dataprep in the same period.
An analyst told StarBiz that Muhammad Ikmal may have been forced to sell his shares due to margin calls, following a severe drop in the share price.
The Widad stock has plunged by almost 88% since its 2023 closing price peak of 56.5 sen. The counter closed at seven sen yesterday, with a market capitalisation of RM204.7mil.