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PETALING JAYA: Selimor State-linked fim Worldwide Holdings Bhd is seeking a 30% stake in a directly negotiated power plant project to be developed at Pulau Indah, Selangor, by Tadmax Bhd.
The announcement The Minister of Energy, Green Technology, Science and Climate Change, Yeo Bee Yin, recently said that the government would scrap four new farmers' contracts. Electricity that have been allocated directly. She declined to name the companies involved in the projects but said that one of them was a publicly traded company.
Tadmax today told Bursa Malaysia that the group had reached a memorandum of understanding on July 27 with Worldwide Holdings. Tadmax said subject to the prior written approval of the Energy Commission and that once the final agreement is signed, Worldwide Holdings intends to obtain a stake 30% in the property. In the project company known as Tadmax Indah Power Sdn Bhd (TIP).
Worldwide Holdings will provide its services as a strategic project partner by participating in funding discussions with financiers and / or financial institutions. coordination for the project.
Tadmax stated that during this development phase of the project, each party will bear its own costs associated with the project, including in the event that the parties do not proceed with the final agreement.
"The TIP equity collaboration in the The Memorandum of Understanding between Tadmax and Worldwide Holdings is subject to the state of Selangor's guidelines and must be in accordance with it. which may give rise to a shareholders' pact. "
Tadmax signed a joint development agreement (JDA) with Korea Electric Power Corp (Kepco) for the power plant project following the withdrawal of Tenaga Nasional Bhd from the power plant. ;agreement. Kepco has expressed its intention to acquire a 25% stake in TIP after the successful implementation of the JDA.
Tadmax and Kepco negotiate engineering, procurement, and construction, operation and maintenance, gas supply and procurement contracts for Tadmax and Kepco. electricity. agreement with Worldwide Holdings.
On Bursa Malaysia today, Tadmax fell 1 sen or 4.5% to 21 sen on 89,000 shares made.
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