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.