EA Technique (M) Berhad (“EATech” or “Company”), a Bursa Malaysia Main Market listed prominent marine transportation and offshore storage company, announced an amicable understanding with Vestigo Petroleum Sdn. Bhd. (“VPSB”) on matters related to past contractual arrangements.
The fulfilment of obligation under the mutually agreed arrangement between VPSB and EATech reinforces EATech’s operational continuity and resolves past contractual arrangements. The cash inflow from the fulfilment of obligations provides an immediate boost to the Company’s liquidity, supporting its endeavour to drive the execution of its strategic turnaround plan. This also aligns with the Company’s ongoing efforts to enhance financial stability and foster sustainable growth.
The positive outcome of this resolution reflects the strong professional relationship between EATech and VPSB, reaffirming VPSB’s position as a strategic ally to the Company’s in Malaysia’s maritime and energy sectors.
Commenting on the agreement, Datuk Wira Mubarak Hussain Akhtar Husin, Executive Director of EATech, reiterates: “Vestigo and EATech have both demonstrated shared commitment through this resolution and remain dedicated to fostering strong, collaborative relationships. Most importantly, we aim to support each other in unlocking greater potential within the industry. This pursuit of mutual understanding highlights our focus on establishing a lasting partnership as we continue to enhance our capabilities and explore future opportunities.”
This resolution allows EATech to fully focus on its core business areas, including marine transportation, offshore storage, and port marine services. With sustained financial strength and a clear strategic direction, EATech is poised to capitalise on opportunities across its diverse portfolio while maintaining robust relationships with its partners and stakeholders.
