Widad appoints Saloma Jonid as executive director

• Saloma, 64, has 30 years of experience in capital market and investment banking, specialising in equity and debt capital markets, project financing and credit analysis, according to the group’s filing.

KUALA LUMPUR (Aug 1): Construction and integrated facilities management group Widad Group Bhd has appointed Saloma Mohd Jonid as its new executive director, effective Tuesday (Aug 1).

Saloma, 64, has 30 years of experience in capital market and investment banking, specialising in equity and debt capital markets, project financing and credit analysis, according to the group’s filing.

Saloma joined Widad Business Group Sdn Bhd — a major shareholder of Widad — in 2014 and is presently designated as group human resources and administration director. She is also a director in Vertical Engineering Sdn Bhd, a related company of Widad involved in the construction sector.

“She started her career with Maybank Investment Bank Bhd in 1983 and served the bank for 10 years until 1993. In 1994, she joined RHB Investment Bank Bhd and held a Dealer's Representative licence for the regulated activity in investment portfolio management and industry advisory to retail, corporate, and institutional clients," said Widad.

For the first quarter ended March 31, 2023, Widad’s net profit slumped 90% to RM628,000 from RM6.32 million a year earlier, mainly due to lower gross margin from construction projects. Quarterly revenue, however, rose 20.64% to RM62.78 million from RM52 million, contributed by its construction segment.

Widad’s share price closed half a sen or 1.19% higher at 42.5 sen on Tuesday, valuing the group at RM1.27 billion.

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