Tadmax Resources Berhad's JV to build Papua timber complex. The Board of Directors of the company announced to clarify that the statement was based on the company's internal business projection after taking into consideration the commencement of extraction of timber logs at the company's primary forest land bank of approximately 80,000 hectares in District of Jair, Boven Digoel Regency, Papua Province, Republic of Indonesia. The projections are based on the Forest Assessment Report prepared by the relevant independent experts. The timber logs will then be sent to the Integrated Timber Complex for processing into plywood, sawn timber, wood chips and other timber products.
If everything went as planned, the company would be able to churn a revenue of between MYR 30 million and MYR 45 million next year 2013.