KUALA LUMPUR (July 2): Based on corporate announcements and news flow today, stocks in focus on Friday (July 3) may include: BTM Resources Bhd, Poly Glass Fibre (M) Bhd, DRB-Hicom Bhd, Yinson Holdings Bhd, Petronas Gas Bhd (PetGas) and Scomi Group Bhd.

BTM Resources Bhd’s 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. The electrical energy power plant will have the capacity to supply 10 mega-watt (MW) per hour of electricity to Tenaga Nasional Bhd. The group has also received the relevant feed-in tariff approval certificate for a period of 21 years.

Poly Glass Fibre (M) Bhd, which recently announced its diversification into the production of personal protective equipment, today reported another new venture — freshwater aquaculture. The fibre glass wool manufacturer said it is forming a 50-50 joint-venture company with Hong Len Aquatic Sdn Bhd (HLA) to set up and manage a hatchery for freshwater aquaculture in Tanjung Malim, Perak.

DRB-Hicom Bhd’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. Proton said its June sales also represented a 26.3% rise on a yearly basis, and mark its second-best sales month in 2020. Year to date, Proton’s market share stands at 21.2%.

Yinson Holdings Bhd’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$1 billion (RM4.29 billion) charter contract bagged by the joint venture in 2017. The offshore services group did not disclose the total sum arising from the settlement, but noted that it would not have any material effect for FY21.

Petronas Gas Bhd (PetGas) has roped in Petronas’s Adnan Zainol Abidin as its new chairman effective today. Adnan takes over from Adif Zulkifli, who resigned after being appointed as executive vice-president and CEO of upstream business at Petronas in October last year.

Loss-making Scomi Group Bhd is borrowing RM1 million from a firm linked to CEO Sammy Tse Kwok Fai, to use for working capital requirements. The group said it has signed a loan agreement with SBI Spectrum Sdn Bhd, in which Tse is a substantial shareholder.