Minetec's main business involve extraction and mining of Bitumen / Asphalt.
Asphalt is a key incredient in carbon fiber, used for producing EV.
"Bitumen is rich in asphaltenes, the feedstock for carbon fiber, used for producing lighter vehicles including EVs, he said." - SunCor CEO Mark Little
https://www.huffingtonpost.ca/entry/oilsands-electric-cars-suncor-mark-little_ca_5ed65982c5b65a79ab57fd3b
Note that Minetec is the only listed Bitumen producer on Bursa Malaysia.
In addition, Minetec's Coral Power is likely to clinch a piece of the large LSS4 pie.
Could Awang Daud's plan for Minetec all the while be to create it into an Electric vehicle supplier?
https://klse.i3investor.com/blogs/GillianTan/2021-01-20-story-h1540063746-Minetec_Electric_Vehicle_play_Asphalt_for_Carbon_Fiber_used_in_EV_Solar.jsp
