EA Technique sees better financial performance
SINGAPORE: EA Technique Bhd, one of Johor Corp’s (JCorp) group of companies, is optimistic of a significant improvement in its 2018 fullyear financial performance compared with 2017.
Managing director Datuk Abdul Hak Md Amin attributed the optimism to several factors, including the company securing new contracts to supply three super crew boats over the past two months.
The contracts, under the Integrated Logistics Control Tower programme, were awarded by oil majors Petronas Carigali, Enquest Petroleum and ExxonMobil.
“The contracts are for a firm three years with an extension period of another two years, while the total value of the contracts is about RM80mil including the option,” he said during the naming and delivery ceremony of super fast crew boats (FCBs) MV Nautica Gambir and MV Nautica Langsat at the Dundee Marine shipyard here yesterday.
Also in attendance were JCorp President cum EA Technique chariman Datuk Kamaruzzaman Abu Kassim and his wife Datin Noor Laila Yahaya, and Dundee Marine and Industrial Services managing director Tan Siam Weng.
Incorporated in 1993, EA Technique is principally a logistics provider, owner and operator of marine vessels, with its business focused on oil and gas marine transportation and offshore storage and provision of marine port services.
In the first quarter of 2018, EA Technique recorded revenue of RM63.8mil and a net profit of RM17.2mil after tax, compared to a loss of RM121.1mil after tax in 2017.
The 2017 losses were mainly due to the engineering, procurement, construction, installation and com- missioning projects, which EA Technique said it has successfully dealt with and thus will no longer impact the 2018 financial performance.
Abdul Hak said the two new vessels would expand the fleet of EA Technique’s FCBs to 42.
Each of these two FCBs is capable of carrying 70 offshore crew at a minimum speed of 25 knots and will be deployed to new contracts.
Speaking to Malaysian reporters later, Kamaruzzaman expressed optimism that EA Technique’s latest assets would bring a positive impact on the company. — Bernama