EA Technique buying Libra Perfex for RM5m

KUALA LUMPUR: E.A.Technique Bhd (EAT) is buying Libra Perfex Precision Sdn Bhd for RM5mil to enhance its core business of hiring and chartering of marine vessels.

EAT said on Wednesday Libra Perfex is involved in hiring and chartering of marine vessels. 

Recall that on April 1, Libra Perfex signed a contract with Petronas Floating LNG 1 (L) Ltd to provide tug boats services together with towing services for the PFLNG1 project. The total contract value was US$43.8mil (RM177.80mil) over six years.

“The proposed acquisition is to generate additional revenue to EAT Group through the revenues derived from the PFLNG1 contract by the company (Libra Perfex) and the rental of the tug boats by EAT to the company for the contract,” it said.

On Wednesday, EAT signed a conditional share sale agreement with five shareholders of Libra Perfex to buy the entire two million shares.

The vendors of Libra Perfex are Fatimah Mahmood, Tan Sri Dr Jemilah Mahmood, Datuk Dr Ashar Abdullah, Ali Noor Razak Mohd Noor Sidek and Norrazak Isma.