KUALA LUMPUR (Dec 21): EA Technique (M) Bhd shares rose 7.94% after it bagged two contracts for the supply and operation of vessels, worth a collective RM94.5 million.

At 9.57am, EA Technique rose 2.5 sen to 34 sen with 542,100 shares traded.

One of the contracts, worth RM66.3 million, is from Petroliam Nasional Bhd, to provide and operate two units of 40-tonne bollard pull harbour tugs for Kertih Port Sdn Bhd, and a harbour tug cum support vessel for Petronas Penapisan (Terengganu) Sdn Bhd.

The other contract, worth RM28.2 million, is from Sungai Udang Port Sdn Bhd for the provision of a 40-tonne bollard pull harbour tug, one multi-purpose mooring boat, and two 60-tonne bollard pull harbour tugs.

"These contracts are expected to contribute positively to the earnings and net tangible assets of EA Technique for the financial year ending Dec 31, 2019, and beyond," the group said.