BTM Resources jumps 18% on MoU to expand wood pellet biz

BTM Resources jumps 18% on MoU to set up wood pallet plant

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KUALA LUMPUR (April 9): BTM Resources Bhd shares jumped 18.18% after it signed a Memorandum of Understanding (MoU) with MC Bio Sdn Bhd and Korea South-east Power Co Ltd (KOEN) and MOKPO City Gas Co Ltd on April 1 to set up a wood pellet manufacturing plant in Terengganu, Malaysia.

At 9.16am, BTM rose 2 sen to 13 sen with 244,900 shares traded.

The MoU is a means for the group to expand its wood pellet business, help diversify its income stream and contribute to the group’s profitability in the future.