“E.A. Technique (M) Berhad (E.A. Technique) was incorporated in Malaysia on 18 January 1993 under the Companies Act 1965 as a private limited company as E.A. Technique (M) Sdn. Bhd. It was listed on the Main Market of Bursa Malaysia on 11 December 2014.”
The history of our Group can be traced back to 18 January 1993 with incorporation of E.A. Technique in Malaysia under the Companies Act 1965 as a private limited company under the name of E.A. Technique (M) Sdn Bhd. Our initial operation was in the provision of marine consultancy services and cargo broking before we expanded into marine vessel operations in 1995 with the acquisition of our first product tanker, Kaikura for the transportation and provision of CPP as bunker for ferry operators. In 1995, we successfully registered ourselves with PETRONAS and the Ministry of Finance (MOF) to enable us to provide services within the O&G industry in Malaysia.
In early 2007, Sindora, a company which is 100% owned by Kulim (Malaysia) Berhad became our holding company with a 51% equity stake in E.A. Technique. Kulim is a wholly owned subsidiary of Johor Corporation (“JCorp”). Hence, we are a part of JCorp group of companies. Subsequently, on 11 December 2014, E.A. Technique was listed on the Main Market of Bursa Malaysia as E.A. Technique (M) Berhad.
We are principally an owner and operator of marine vessels where our business is focused on marine transportation and offshore storage of oil & gas (“O&G”), and provision of port marine services.
We have embarked into marine engineering and marine engineering solutions when we were awarded with the contract for the provision of Engineering, Procurement, Construction, Installation & Commissioning (“EPCIC”) of a Floating Storage & Offloading (“FSO”) facility for Full Field Development (“FFD”) project, North Malay Basin.
The Company is involved in the charter of various types of tankers for the transportation and offshore storage of oil & gas, charter of marine tug vessels for the provision of port marine services and charter of Offshore Support Vessels (“OSV”) in the form of fast crew boats to transport personnel/light cargoes between shore and platform, platform and platform and other offshore facilities.
As at 31 December 2018, the Company operates a total fleet of 45 marine vessels in their portfolio. Of the total 45 marine vessels that we operate, E.A. Technique owns 42 of these marine vessels which comprises eight (8) oil & gas tankers (inclusive of two (2) Floating Storage & Offloading Unit (“FSU/FSO”), five (5) OSVs and 29 marine vessels. The remaining 3 marine vessels are chartered from external parties.
Also as part of our vertical expansion plan, we have ventured into shipbuilding, ship repair and minor fabrication in 2007 through our subsidiary, Johor Shipyard and Engineering Sdn Bhd (“JSE”), which operating on a 20 acres land in Hutan Melintang, Perak. Recently, JSE has been selected as “Outstanding Ship Builder 2017” by Ministry of Transport.
We also entered into a share sale agreement (“SSA”) to acquire a 100% equity stake in Libra Perfex Precision Sdn Bhd (“Libra”), which was completed in 22 November 2016. Libra as our wholly owned subsidiary has been awarded with the contract for provision of tugboats for the operations of Petronas Floating LNG1 (L) Ltd (“PFLNG1”).