Trading ideas: BTM Resources, Poly Glass Fibre, DRB-Hicom, Yinson, Destini

KUALA LUMPUR: Stocks to watch on Friday include BTM Resources Bhd, Poly Glass Fibre (M) Bhd, DRB-Hicom Bhd, Yinson Holdings Bhd and Destini Bhd, according to JF Apex Research.

BTM Resources’ unit BTM Biomass Products Sdn Bhd has obtained approval from the Sustainable Energy Development Authority to build and operate a renewable energy electrical power plant.

Poly Glass Fibre, which recently announced its diversification into the production of personal protective equipment, today reported another new venture — freshwater aquaculture.

DRB-Hicom’s 50.1%-owned Proton Holdings Bhd sold 9,623 vehicles in June, a 69.5% increase from May, which it attributed to the sales tax waivers and pent-up demand that have driven total industry volume ahead of 2019 numbers.

Yinson’s 49%-owned joint venture in Vietnam has executed a final settlement agreement with PetroVietnam Technical Services Corporation (PTSC) over the termination of a US$1bil (RM4.29bil) charter contract bagged by the joint venture in 2017.

Destini has secured a RM17.4mil contract to provide mechanical and electrical (M&E) systems for the GrenePark Village commercial development in Semenyih, Selangor.

Overnight, US market rose after better-than-expected employment data.

Earlier, European stocks advanced following a potential coronavirus vaccine being developed.

“Following the positive performances in the US and Europe, the FBM KLCI could extend its rally towards the resistance of 1,550 points,” JF Apex said.