This article first appeared in The Edge Financial Daily on November 15, 2018
Tadmax Resources Bhd (+ve)
TRADING of shares in Tadmax Resources Bhd (fundamental: 0.95/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year.
The stock closed unchanged at 23.5 sen, with 3.87 million shares traded — exceeding its 200-day average trading volume of 683,228 shares.
In a filing with Bursa Malaysia yesterday, Tadmax said Datuk Seri Gan Seong Liam, the managing director of the company’s property development division, acquired 160,000 shares, representing a 0.02% stake in the company, at 23.5 sen per share on Monday. His total stake in the company now stands at 75.52 million shares or 9.64%.
In September, Tadmax announced plans to develop a 1,000MW-1,200MW combined cycle gas turbine power plant on Pulau Indah following a heads of agreement with Worldwide Holdings Bhd.