BTM Resources Bhd (-ve)
TRADING of shares in loss-making sawmill operator BTM Resources Bhd (fundamental: 0.6/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the third time this year.

The counter saw 6.68 million shares traded, compared with its 200-day average of 232,946 shares, before closing unchanged at 19 sen.

BTM Resources hogged the limelight recently when its share price doubled from 9.5 sen in two trading days after the company announced its plan to venture into liquefied petroleum gas (LPG) to diversify and expand its source of income.

Last Wednesday, the company said it had inked a heads of agreement with businessman Tan Sri Halim Saad-controlled Markmore Energy (Labuan) Ltd for an LPG production project in Kazakhstan. Under the deal, it intends to build an LPG production and gas processing facility with a 100-million-standard-cu-ft-per-day capacity.