Tadmax confident of turnaround this year

KUALA LUMPUR: Tadmax Resources Bhd expects to return to the black in the current financial year ending Dec 31, 2017, helped by its property development business.

Its executive director Datuk Noel John said its two property projects have a gross development value of RM1.6 billion, which is expected to contribute RM200 million in profit over five years.

The two property projects consist of Ganggarak Permai at Labuan and Mizumi Residences at Kepong.

Tadmax saw a net loss of RM13.77 million in FY16.