PETALING JAYA: E.A. Technique (M) Bhd has clinched two contracts worth a total of RM94.5 million to supply and operate several assets.
The first contract, valued at RM66.3 million, was awarded by Petroliam Nasional Bhd, involving two units of 40 tonnes bollard pull harbour tugs for Kertih Port Sdn Bhd and one unit of harbour tug cum support vessel for Petronas Penapisan (Terengganu) Sdn Bhd.
The contract has a primary period of five years with option to extend for two years, on annual basis (5+1+1 years).
The second contract, valued at RM28.2 million, was awarded by Sungai Udang Port Sdn Bhd for the provision and operation of one unit of 40 tonnes bollard pull harbour tug, one unit of multipurpose mooring boat and two units of 60 tonnes bollard pull harbour tug for Sungai Udang Port’s regasification terminal.
In a filing with Bursa Malaysia, the group said the 40 tonnes bollard pull harbour tug and multipurpose mooring boat will be the group’s own assets while the two units of 60 tonnes bollard pull harbour tug will be charter-in-vessels.
The contract duration for the 40 tonnes bollard pull harbour tug, multipurpose mooring boat and one unit of the 60 tonnes bollard pull harbour tug is two years with an option to extend for one year while the other unit of the 60 tonnes bollard pull harbour tug has a contract duration of six months with an option to extend for another six months.
Both contracts are expected to contribute positively to the earnings and net tangible assets of the group for the financial year ending Dec 31, 2019 and beyond.
E.A. Technique’s share price fell 4.54% or 1.5 sen to close at 31.5 sen today with 332,800 shares traded.