PETALING JAYA: Trading of Tadmax Resources Bhd’s shares has been suspended today pending an announcement to clarify a news article on its power plant project in Pulau Indah.
In a stock exchange filing, Tadmax said the news article was issued on Saturday by The Edge Malaysia titled “Putrajaya pulls the plug on Tadmax’s power plant”.
The article reported that Tadmax’s RM3.5 billion 1,000MW to 1,200MW combined cycle gas turbine project in Pulau Indah has been axed.
According to a source familiar with the matter, this is the latest contract to be cancelled after four independent power producer contracts were scrapped by the Pakatan Harapan-led government in the middle of last year in its review of projects.
The project was scheduled to be commissioned by early 2023.
