Friday 29 Mar 2024
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KUALA LUMPUR (Dec 28): Shares of BTM Resources Bhd advanced in early trade today after the company via its subsidiary BTM Marketing and Trading Sdn Bhd (BTMMT) said is exploring the possibility of being the master franchisor of fast food chain operator Chicken Cottage (M) Sdn Bhd (CCSB) in Johor and Singapore.

At 9.10am, BTM Resources rose 2.99% or 1 sen to 34.5 sen with 41,000 shares done.

In a filing with Bursa Malaysia last Wednesday, BTM Resources said the memorandum of understanding (MoU), signed between BTMMT and CCSB on Dec 17, stipulates that pending both parties' due diligence, negotiation and execution of a definitive agreement between the parties, the companies have agreed to enter into the MoU to record their understanding and intention in respect of the potential cooperation.

BTM Resources is principally involved in the logging, saw milling and trading of sawn timber, logs and plywood.

BTM Resources said the MoU serves as a starting point for further business exploration as BTMMT intends to seek new business opportunities to increase its revenue.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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