WIDAD GROUP BERHAD — Interim / Quarterly Report 2026

May 20, 2026

WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

INTERIM FINANCIAL REPORT
FOR THE PERIOD FROM 1 JANUARY 2026 TO 31 MARCH 2026

CONTENTS	PAGE
Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income	1
Unaudited Condensed Consolidated Statement of Financial Position	2
Unaudited Condensed Consolidated Statement of Changes in Equity	3
Unaudited Condensed Consolidated Statement of Cash Flows	4 – 5
Explanatory Notes Pursuant to MFRS 134	6 – 8
Explanatory Notes Pursuant to Appendix 9B of the ACE Market Listing	9 – 15
Requirements of Bursa Malaysia Securities Berhad

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

U

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	QUARTER ENDED		YEAR-TO-DATE
	31.3.2026	31.3.2025	31.3.2026	31.3.2025
	RM'000	RM'000	RM'000	RM'000
Revenue	27,090	62,063	27,090	62,063
Cost of sales	(23,974)	(55,550)	(23,974)	(55,550)
Gross profit	3,116	6,513	3,116	6,513
Other income	79	385	79	385
Administrative expenses	(4,198)	(6,381)	(4,198)	(6,381)
Operating (loss) / profit	(1,003)	517	(1,003)	517
Finance income	7,950	6,857	7,950	6,857
Finance costs	(5,402)	(5,105)	(5,402)	(5,105)
Profit before tax	1,545	2,268	1,545	2,268
Tax expense	(515)	(1,050)	(515)	(1,050)
Profit after tax for the period	1,030	1,218	1,030	1,218
Loss for the period attributable to:
- Owners of the Company	1,033	1,219	1,033	1,219
- Non-controlling interest	(3)	(1)	(3)	(1)
	1,030	1,218	1,030	1,218
Earnings per share (sen)
- Basic	0.03	0.04	0.03	0.04

The Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying explanatory notes attached to these interim financial statements.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

U

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	31.3.2026 RM'000	Audited 31.12.2025 RM'000
ASSETS
Non-current assets
Property, plant and equipment	5,422	5,674
Right-of-use assets	252	480
Goodwill on consolidation	8,741	8,741
Contract assets	366,665	374,158
Fixed deposits with licensed banks	1,858	1,858
Deferred tax assets	126	126
Total non-current assets	383,063	391,037
Current assets
Contract assets	225,481	201,688
Trade receivables	12,778	40,197
Other receivables	24,774	2,592
Tax Recoverable	1,470	1,796
Cash and bank balances	84,317	114,598
	348,819	360,870
Total current assets
TOTAL ASSETS	731,882	751,907
EQUITY AND LIABILITIES
EQUITY
Equity attributable to owners of the Company
Share capital	304,606	304,606
Retained earnings	(95,444)	(96,474)
	209,162	208,132
Non-controlling interest	(93)	(89)
Total equity	209,070	208,043
LIABILITIES
Non-current liabilities
Borrowings	276,124	302,279
Lease liabilities	445	302
Deferred tax liabilities	80,153	80,153
Total non-current liabilities	356,721	382,733
Current liabilities
Contract liabilities	-	39,562
Trade payables	94,933	61,347
Other payables	31,636	20,042
Borrowings	34,740	35,307
Lease liabilities	89	195
Tax payable	4,693	4,678
Total current liabilities	166,091	161,131
Total liabilities	522,812	543,864
Total Equity and Liabilities	731,882	751,907
Net Tangible Assets per share (RM)	0.06	0.06

The Unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes attached to these interim financial statements.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

U

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

	Share Capital	Distributable Retained Earnings	Attributable to Owners of the Company	Non-controlling Interest	Total Equity
	RM'000	RM'000	RM'000	RM'000	RM'000
As at 1 January 2026	304,606	(96,474)	208,132	(89)	208,043
Loss for the financial period	-	1,030	1,030	(3)	1,027
Balance as at 31 March 2026	304,606	(95,444)	209,162	(93)	209,070

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

U

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

| | Unaudited
31.3.2026 | Audited
31.12.2025 |
| --- | --- | --- |
| | RM'000 | RM'000 |
| OPERATING ACTIVITIES | | |
| Loss before tax | 1,545 | (194,911) |
| Adjustments for; | | |
| Depreciation of property, plant and equipment | 553 | 1,896 |
| Depreciation of right-of-use assets | 97 | 218 |
| Impairment loss on receivables | - | 93,241 |
| Interest expenses | 20,492 | 20,492 |
| Interest income | (6,686) | (25,578) |
| Gain on disposal of property, plant and equipment | - | (151) |
| Gain on disposal of assets classified as held for sale | - | (2,455) |
| Deposit written off | - | 713 |
| Written off property, plant and equipment | - | 2,886 |
| Impairment loss on contract assets | - | 97,294 |
| Operating profit before working capital changes | 16,001 | (6,355) |
| Changes in working capital; | | |
| Contract balances | (41,510) | 46,542 |
| Receivables | 11,236 | (7,804) |
| Payables | 54,180 | 10,563 |
| Cash generated form operations | 39,907 | 42,947 |
| Interest income received | 335 | 1,466 |
| Tax paid | (488) | (9,230) |
| Interest costs paid | (73) | (73) |
| Net cash flows from operating activities | 39,681 | 35,111 |
| INVESTING ACTIVITIES | | |
| Interest received | - | 133 |
| Placement/Withdrawal of Maintenance Reserve Fund | 52,351 | (1,487) |
| Placement/Withdrawal of Designated Accounts | (53,694) | 19,967 |
| Purchase of property, plant and equipment | - | (1,119) |
| Proceeds from disposal of assets classified as held for sale | - | 41,255 |
| Proceeds from disposal of property, plant and equipment | - | 151 |
| Withdrawal/(Placement) of fixed deposits (pledged) | - | 11,898 |
| Net cash flows from investing activities | (1,343) | 70,798 |

The Unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes attached to these interim financial statements.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (cont'd)

| | Unaudited
31.3.2026
RM'000 | Audited
31.12.2025
RM'000 |
| --- | --- | --- |
| FINANCING ACTIVITIES | | |
| Finance cost paid | (1,190) | - |
| Advances from /(to) holding company | - | 75 |
| Interest paid | - | (20,048) |
| Repayment of borrowings | (35,713) | (80,838) |
| Repayment of lease liabilities | (42) | (204) |
| Proceeds from issuance of ordinary shares pursuant to private
placement, net of share issuance expenses | - | 962 |
| Interest paid for Sukuk Wakalah | (2,875) | - |
| Net cash flow from financing activities | (39,820) | (100,053) |
| CASH AND CASH EQUIVALENTS | | |
| Net changes | (1,482) | 5,855 |
| As per audited account brought forward | 3,345 | (2,511) |
| Carried forward | 1,863 | 3,345 |
| Cash and cash equivalent comprise of:- | | |
| Cash and bank balances | 84,317 | 114,598 |
| Fixed deposit with licensed bank | 1,858 | 1,858 |
| Bank overdraft | - | - |
| | 86,174 | 116,455 |
| Less: | | |
| Designated Bank Account | (55,552) | (79,254) |
| Fixed deposit with licensed bank | (1,857) | (1,858) |
| Maintenance Reserve Fund | (26,903) | (31,999) |
| | 1,863 | 3,345 |

The Unaudited Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 and the accompanying explanatory notes attached to these interim financial statement

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

A. EXPLANATORY NOTES PURSUANT TO MFRS 134

A1 BASIS OF PREPARATION

These interim financial statements are unaudited and have been prepared in accordance with the requirements of Malaysian Financial Reporting Standards ("MFRS") 134: Interim Financial Reporting issued by the Malaysian Accounting Standards Board ("MASB") and paragraph 9.22 and Appendix 9B of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities").

The interim financial statements should be read in conjunction with the audited financial statements for the financial year ended 31 December 2025 ("FYE 2025") and the accompanying explanatory notes attached to the interim financial statements.

The accompanying explanatory notes attached to the interim financial statements provide an explanation of events and transactions that are significant to the understanding of the changes in the financial position, performance and cash flow of the Group since FYE 2025.

A2 SIGNIFICANT ACCOUNTING POLICIES

A2.1 Adoption of Amendments / Improvements to MFRS

The accounting policies and methods of computation adopted by the Group in this interim financial report are consistent with those adopted in the financial statements for the FYE 2025.

The followings are amended standards that are effective for the financial period beginning on or after 1 January 2026.

Amendments to MFRS 9 and MFRS 7
- Financial Instruments and Financial Instruments: Disclosures
- Amendments to the classification and measurement of financial instruments

Amendments to MFRS 9 and MFRS 7
- Financial Instruments and Financial Instruments: Disclosures
- Contracts referencing nature -dependent electricity

The Group is currently working to identify all impacts the amendments will have on the financial statements and notes to the financial statements.

A3 AUDIT REPORT OF PRECEDING ANNUAL FINANCIAL STATEMENTS

The auditors' report on the financial statements for the FYE 2025 was not subject to any qualification.

A4 SEASONAL OR CYCLICAL FACTORS

The business operations of the Group during the financial period under review have not been materially affected by any significant seasonal or cyclical factors.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

A. EXPLANATORY NOTES PURSUANT TO MFRS 134

A5 UNUSUAL ITEMS AFFECTING ASSETS, LIABILITIES, EQUITY, NET INCOME OR CASH FLOWS

There were no unusual items affecting assets, liabilities, equity, net income or cash flows in the current quarter under review.

A6 MATERIAL CHANGES IN ESTIMATES

There were no material changes in estimates in the current quarter and period under review.

A7 DEBTS AND EQUITY SECURITIES

On 30 March 2026, the Group paid the fourth Sukuk Wakalah annual principal payment amounting RM25 million.

Other than the above, there is no issuance, cancellation, repurchase, resale and repayment of debt and equity securities during the period under review.

A8 DIVIDEND

There were no dividends declared or paid in the current quarter and period under review.

A9 SEGMENTAL REPORTING

Primary reporting basis by business segments:

Current Quarter	Current Quarter			Year-to-date
	Construction	Facility Management	Total	Construction	Facility Management	Total
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
Revenue	14,501	12,589	27,090	14,501	12,589	27,090
Segment results;
Finance income #	-	-	7,950	-	-	7,950
Finance costs	-	-	(5,402)	-	-	(5,402)
Depreciation	-	-	(650)	-	-	(650)
Taxation	-	-	(515)	-	-	(515)
Profit after tax	-	-	1,030	-	-	1,030

Includes lease rental under concession business

A10 CARRYING AMOUNT OF REVALUED ASSET

The Group does not perform any valuation of property, plant and equipment during the quarter and financial year-to-date.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

A. EXPLANATORY NOTES PURSUANT TO MFRS 134

A11 MATERIAL EVENTS SUBSEQUENT TO THE END OF THE INTERIM PERIOD

There were no material events subsequent to the end of the current quarter up to the date of issuance of the quarter report that have not been reflected in the interim financial statement for the current quarter.

A12 EFFECT OF CHANGES IN THE GROUP COMPOSITION, LONG TERM INVESTMENTS, RESTRUCTURING AND DISCONTINUED OPERATIONS

There was no change to the composition of the Group during the quarter under review.

A13 CONTINGENT LIABILITIES / ASSETS

There were no contingent liabilities / assets as at the end of the current quarter under review.

A14 CAPITAL COMMITMENT

There were no capital commitments as at the end of the current quarter under review.

A15 SIGNIFICANT RELATED PARTY TRANSACTION

There were no significant related party transactions during the financial period under review.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

B1 REVIEW OF PERFORMANCE

The Group generated revenue of RM27.09 million during first quarter ending 31 March 2026 ("1Q2026") against RM63.06 million in preceding year corresponding quarter ("1Q2025"), reflecting a reduction of 56.35%. It was mainly due to lower construction activities and certain construction projects having reached tail-end phase.

The Group's gross profit of RM3.12 million in 1Q2026 is 52.15% lower as compared to RM6.51 million in 1Q2025. However, gross profit margin for 1Q2026 improved to 11.50% from 10.49% recorded in 1Q2025.

For 1Q2026, the Group achieved profit before tax ("PBT") of RM1.55 million and PBT margin of 5.72% against PBT of RM2.27 million and PBT margin of 3.60% in 1Q2025. Improved PBT margin is attributable to reduction of administrative expenses by RM2.18 million and higher finance income by RM1.09 million.

B2 MATERIAL CHANGES IN QUARTERLY RESULTS

The Group's revenue for 1Q2026 increased markedly against revenue for 4Q2025. Both construction and IFM business segments recorded higher revenue, mainly attributable to higher construction activities and additional maintenance works.

On the back of the revenue, the Group recorded gross profit and profit before tax of RM3.12 million and RM1.55 million respectively against gross loss and loss before tax of RM3.29 million and RM202.35 million respectively in 4Q2025 mainly attributable to impairment loss on financial assets.

B3 COMMENTARY ON PROSPECTS

The Malaysian economy grew by 5.4% in 1Q2026 (4Q2025: 6.2%) supported by resilient domestic demand, continued household spending and steady investment activities. Bank Negara Malaysia continues to project Malaysia's GDP growth at 4.0% to 5.0% in 2026 amid external uncertainties. Meanwhile, the construction sector expanded by 7.7% in 1Q2026 (4Q2025: 10.9%) supported by special trade and non-residential activities.

The Group outstanding order book currently stands at RM 1.24 billion. The Group continues to actively participate in tenders, diversify customer base and identify suitable investment opportunities as part of its strategy to increase order book and to build long term recurring income assets.

Barring any unforeseen circumstances, the Group cautiously optimistic on its performance for the financial year ending 2026.

B4 VARIANCE OF ACTUAL PROFIT FROM FORECAST PROFIT

There were no profit forecast or profit guarantees released to the public.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

B5 TAXATION

Malaysian income tax is calculated at the statutory rate of 24% of the estimated assessable profits for the financial year. The effective tax rate for the current year to date was higher than the statutory tax rate mainly due to expenses not deductible for tax purposes.

B6 STATUS OF CORPORATE PROPOSALS ANNOUNCED BUT NOT COMPLETED

There were no pending corporate proposals announced but not completed as at reporting date.

B7 GROUP BORROWINGS

| | Secured
RM'000 | Unsecured
RM'000 | Total
RM'000 |
| --- | --- | --- | --- |
| Term Loan | 2,655 | 120 | 2,775 |
| Commodity Murabahah | 99,809 | - | 99,809 |
| Revolving credit | 1,871 | - | 1,871 |
| Sukuk Wakalah | 206,575 | - | 206,575 |
| | 310,910 | 120 | 311,030 |
| Total Assets | | | 731,882 |
| Borrowings over Total Assets; | | | 42.50% |
| Repayable: | | | |
| - within one year | | | 276,124 |
| - more than one year | | | 34,741 |
| | | | 310,864 |

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

B8 MATERIAL LITIGATIONS

1. Widad Builders Sdn Bhd ("the Respondent") vs Hikmat Duta Sdn. Bhd. ("the Applicant")

Widad Builders Sdn Bhd ("the Respondent"), a wholly-owned subsidiary of the Company, had on 17 September 2025 been served with a Sealed Originating Summons dated 10 September 2025 and Affidavit in Support dated 10 September 2025 from Messrs Kheng Hoe & Lee Yuen, the solicitor acting for Hikmat Duta Sdn. Bhd. ("the Applicant").

The Respondent is required to pay:

a) The Adjudicated Sum of RM2,794,942.78;
b) Interest at the rate of 5% per annum on the adjudicated sum, calculated from each of the claim dates until full payment of the said sum;
c) Solicitors' costs in the sum of RM60,000.00;
d) Registration fee of the Adjudication Proceedings in the sum of RM270.00;
e) Appointment fee of the Adjudicator in the sum of RM432.00; and
f) Adjudicator's costs and expenses deposit together with AIAC's administration costs in the sum of RM50,920.73.

On 15 January 2026, the learned Judge dismissed the Respondent's application to set aside adjudication decision on 22 July 2025.

2. Widad Group Berhad ("1st Defendant") vs China Design Group Ltd., Jiangsu Tongyong Road and Bridge Co Ltd and Jiangsu Tiannuo Road Material Co Ltd ("Plaintiffs")

Widad Group Berhad was served a Writ of Summon as 1st Defendant from the Plaintiffs via Suit No. WA-22NCC-441-07/2025 on 9 July 2025 in the Kuala Lumpur High Court ("the Suit").

The suit is premised on a Memorandum of Understanding ("MOU") dated 19 January 2024 and a Framework of Cooperation Agreement dated 16 March 2024 ("FCA"), both relating to tender for the proposed Northern Corridor Highway ("NCH") project. The Plaintiffs has alleged that it has paid RM3.0 million (RM1.0 million as a bank guarantee to Government of Malaysia and RM2.0 million to Asia Infrastructure Solutions Sdn Bhd). The Company as First Defendant and the other defendant are contractually required to refund the RM3.0 million to the Plaintiffs.

On 12 August 2025, through our appointed firm of legal counsels, the Company has filed its Defence on 26 August 2025 denying any liabilities on the ground that the consummation of the MOU and FCA was subject to a condition precedent that NCH was awarded to us.

The Plaintiff applied for summary disposal of the case on point of law pursuant to Order 14A of the Rules of Court 2012 by way of Notice of Application dated 10 September 2025 ("Enclosure 17"). On 17 March 2026, the learned Judge dismissed Plaintiff's Enclosure 17 application with costs.

The Court has fixed mediation before the Judge on 15 June 2026 and trial is to be held from 22 September 2026 until 24 September 2026.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

3. Widad Builders Sdn Bhd ("the Defendant") vs Dagang Jati Sdn Bhd ("the Plaintiff")

Widad Builders Sdn Bhd ("the Defendant"), a wholly-owned subsidiary of the Company, was served with a Writ of Summons and Statement of Claim from Nandrajog Advocates & Solicitors, representing Dagang Jati Sdn Bhd ("the Plaintiff") on 15 July 2025 in the High Court of Malaya at Kuala Lumpur.

The Plaintiff was the appointed subcontractor by the Defendant for the relocation of TNB cables at the project known as Projek Menaiktaraf Jalan Pelabuhan Utara Dari Klang Container Terminal to Northport, Pelabuhan Klang, Selangor comprising the relocation of TNB 11kV and 33kV utilities together with ancillary works.

The Plaintiff demanded payment amounting RM1,519,718.40 comprising alleged outstanding amount pursuant to progress claims under the utility relocation works together with interest at 5% per annum and costs of action.

On 23 April 2026, the Court ordered the Defendant to pay the Plaintiff RM1,294,718.40 together with interest at the rate of 5% per annum until full settlement, costs to Plaintiff of RM20,000.00 and allocatur fee of RM800.00

4. Widad Builders Sdn Bhd ("Respondent") vs ST Tunnel Sdn. Bhd. (formerly known as Icop Construction (M) Sdn. Bhd. ("Petitioner")

Widad Builders Sdn Bhd ("Respondent"), a wholly-owned subsidiary of the Company, had on 17 November 2025 been served with a winding up petition ("Petition") by Messrs. Wen & Co. acting on behalf of ST Tunnel Sdn. Bhd. (formerly known as Icop Construction (M) Sdn. Bhd. ("Petitioner")

Respondent appointed Charter Built Builders Sdn Bhd ("CBB") as a subcontractor for a project known as Rangkaian Paip Pembetungan Di Bayan Baru, Pulau Pinang (Fasa 2) ("the Project"). CBB then subcontracted out works involving pipe jacking through rocks ("Sub-contract works") to the Petitioner.

The Petitioner initiated a claim for payment against CBB through Construction Industry Payment and Adjudication Act 2012 ("CIPAA 2012") for works it allegedly performed but remain unpaid by CBB and obtained adjudication decision on 21 February 2025, whereby CBB was ordered to pay the adjudicated sum and costs associated with the adjudication.

The Petitioner then served an originating summon in High Court of Malaya Kuala Lumpur against Respondent, as a principal for the Project, pursuant to Section 30 of CIPAA 2012. On 17 September 2025, the court ordered that Respondent to pay the adjudicated sum and costs associated with the adjudication to the Petitioner.

On 14 October 2025 the Petitioner served a notice of demand pursuant to Section 466 of Companies Act 2016, calling upon the respondent to make payment as per court order dated 17 September 2025 within 21 days. Both parties engaged in series of discussions and negotiations, however, failed to reach an agreement within the notice period. The Petitioner proceeded with winding-up petition.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

The Respondent has filed Affidavit in objection against the Petition on 30 January 2026. The learned Judge has fixed 30 June 2026 for hearing and delivery of decision.

5. Widad Builders Sdn Bhd ("the Plaintiff") vs Dataprep Holdings Berhad ("the Defendant")

Widad Builders Sdn. Bhd. ("the Plaintiff"), a wholly-owned subsidiary of the Company, had on 25 February 2026 served a Writ of Summons with the Statement of Claim dated 19 February 2026 at the High Court of Malaya in Shah Alam against Dataprep Holdings Berhad ("the Defendant").

On 1.8.2022, the Plaintiff and the Defendant entered into a renewed and/or continued Tenancy Agreement dated 1.8.2022 ("Tenancy Agreement"), whereby the Plaintiff agreed to lease level 7 and level 8 of the Building ("Demised Premises") to the Defendant for a term of two (2) years, commencing on 1.8.2022 and expiring on 31.7.2024 ("Term"). Under the Tenancy Agreement, the Defendant agreed to pay a monthly rental of Ringgit Malaysia Forty-Nine Thousand (RM49,000.00) to the Plaintiff, payable on the last day of every month during the Term. To date, the Defendant has paid the Plaintiff a total of RM147,000 only. Despite occupying the Demised Premises until April 2025 with the Plaintiff's consent, the Defendant has failed, refused and/or neglected to pay the balance monthly rent, resulting in rental arrears of RM1,470,000.

On 19 February 2026, the Plaintiff filed the Writ and Statement of Claim at the High Court Shah Alam, bearing Suit No. BA-22NCvC-60-02/2026. On 2 April 2026, the Plaintiff filed a Summary Judgement application, i.e Notice of Application and Affidavit in Support.

During the case management held on 30 April 2026, the High Court orders that;

(a) Parties to file written submission by 18 May 2026
(b) Parties to file reply submission by 2 June 2026
(c) Hearing date before the Judge is fixed on 18 June 2026

6. Widad Builders Sdn Bhd ("Defendant") vs Menta Construction Sdn Bhd ("Plaintiff")

Widad Builders Sdn Bhd ("Defendant"), a wholly-owned subsidiary of the Company, was served with an Originating Summons and Affidavit in Support from Menta Construction Sdn Bhd ("Plaintiff") on 20 May 2025 in Kuala Lumpur High Court.

The Defendant appointed the Plaintiff as the subcontractor for site clearance and earthworks, retaining wall, environmental protection works and associated works at the Langkasuka, Langkawi project in 2022. Due to dispute, the Plaintiff submitted Adjudication Claim under Section 5 of the Construction Industry Payment and Adjudication Act 2012 ("CIPAA") on 30 July 2024. On 17 December 2024, CIPAA ordered the Defendant to pay the outstanding sum of RM3,461,600.31, interest at the rate of 7.41% per annum on the said sum, adjudication process cost of RM35,000 and adjudicator and AIAC costs of RM48,584.84

Both parties commenced competing applications in the High Court, namely Setting Aside Application and Stay Application by the Defendant and Enforcement Application by the Plaintiff. On 21 August 2025, the High Court dismissed the Defendant's Setting Aside and Stay Application and allowed Plaintiff Enforcement Application, all with costs. Additionally, the Plaintiff has initiated garnishee proceedings to recover sums totaling approximately RM4.28 million.

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

7. Widad Builders Sdn Bhd ("Respondent") vs Sany Construction (M) Sdn Bhd ("Petitioner")

Widad Builders Sdn Bhd ("Respondent"), a wholly-owned subsidiary of the Company, had on 9 April 2026 been served with a winding up petition ("Petition") by Messrs. WK Wong & Co. acting on behalf of Sany Construction Sdn. Bhd. ("Petitioner").

On 11 March 2026, the Petitioner filed Payment Claim via Construction Industry Payment and Adjudication Act 2012 ("CIPAA") and subsequently was awarded by CIPAA an adjudicated sum of RM6,250,403.85 together with costs and interest. Subsequently, WBSB has paid RM3,000,000.00.

Both parties have negotiated for a settlement plan for the remaining adjudicated balance payable, however, they were unable to reach a mutually agreed plan. The Petitioner proceeded with Winding-up Petition in the High Court of Malaya (Commercial Division) at Kuala Lumpur in the State of Wilayah Persekutuan.

B9 DIVIDENDS

There were no dividends declared or paid during the quarter under review.

B10 EARNINGS PER SHARE

The basic earnings per share was calculated by dividing the profit attributable to the ordinary equity holders of the Company to the weighted average number of shares issued during the period.

	QUARTER ENDED		YEAR-TO-DATE
	31.3.2026	31.3.2025	31.3.2026	31.3.2025
Profit/(Loss) attributable to ordinary equity holders of the Company (RM'000)	1,030	1,218	1,030	1,218
Weighted average number of ordinary shares in issue ('000)	3,119,664	3,096,453	3,119,664	3,096,453
Basic earnings per share (sen)	0.03	0.04	0.03	0.04

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WIDAD GROUP BERHAD

Registration No.: 200901014295 (857363-U)

W

B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

B11 NOTES TO THE STATEMENT OF COMPREHENSIVE INCOME

Profit for the current quarter and year-to-date were arrived at after crediting / (charging) the following:

	QUARTER ENDED		YEAR-TO-DATE
	31.3.2026	31.3.2025	31.3.2026	31.3.2025
	RM'000	RM'000	RM'000	RM'000
Finance income	1,600	97	1,600	97
Finance lease income	6,351	6,951	6,351	6,951
Depreciation	(650)	(670)	(650)	(670)
Finance costs	(5,402)	(5,105)	(5,402)	(5,105)