Widad Business Group founder launches takeover of Dataprep

New high for Dagang NeXchange Bhd

KUALA LUMPUR: The founder of the diversified Widad Business Group,  Tan Sri Muhammad Ikmal Opat Abdullah has launched a takeover of  IT services company Dataprep Holdings Bhd at a sharply lower offer price of 16 sen cash a share.

The offer price was 23.5 sen below the midday close of 39.5 sen on Wednesday.

Stock market data showed that 270.54 million shares or 64.2% stake crossed at 16 sen a share. The block of shares is owned by VXL Holdings Sdn Bhd.

Dataprep offers a full spectrum of ICT services to a range of customers in various industries, among them government, education, telecommunication and financial services and products.  

Dataprep received the takeover notice from Wardah Communications Sdn Bhd, a unit of  Widad Group, which had acquired the block of shares from VXL Holdings.

Dataprep said it was in the midst of sourcing for an independent adviser to advise the directors and the holders of the offer shares in relation to the offer.

According to the Widad Business website, it has 1,500 employees throughout Malaysia. The other key business segments are integrated facility management, construction, property development, hotels, publication and media, aquaculture as well as engineering consultancy.

Ikmal Opat played a pivotal role in the expansion of the Widad Group which now includes institution of higher learning, that is the Widad University College and Widad College. 

The 49-year-old Ikmal, who is from Kedah, graduated from The National University of Malaysia with a Bachelor of Arts (Mass Communication).

Dataprep rose to a 52-week high of 71 sen on March 23 while its 52-week low was 11 sen on Nov 3, 2016.