KUALA LUMPUR (March 9): EA Technique (M) Bhd has entered into a memorandum of agreement for the disposal of a marine vessel to United Arab Emirates (UAE)-based Alpha Metallum DMCC for a cash consideration of US$5.2 million or about RM23.52 million.
In a Bursa Malaysia filing on Thursday (March 9), EA Technique said the group plans to sell Nautica Muar (NMR) by the second quarter of 2023.
NMR is one of three marine vessels that EA Technique intended to sell since August last year. The other two vessels are Nautica Kota Tinggi and Nautica Maharani.
“The estimated gain on disposal from the NMR disposal [is] approximately RM3.42 million after taking into consideration the agent’s commissions and other estimated expenses for the NMR disposal of RM0.21 million,” the group revealed.
On Aug 5 last year, EA Technique announced its intention to sell NMR to a third-party purchaser for at least US$4.86 million or around RM21.99 million.
Earlier in June last year, the group had also signed an agreement to sell Nautica Kota Tinggi to Petroleum Gulf Energy Trading LLC for US$4.65 million or RM20.69 million in cash.
Shares of EA Technique closed unchanged at 31.5 sen, giving it a market capitalisation of RM164.65 million.
Source: TheEdge - 10 Mar 2023
