KUALA LUMPUR (Sept 19) : EA Technique (M) Bhd said it has entered a memorandum of agreement to dispose of a marine vessel for US$4.2 million (RM18.69 million) to United Arab Emirates-based tanker vessel operator Glory International FZ-LLC.

The group announced on Aug 5 that it planned to sell the vessel, Nautica Maharani, to a third-party purchaser for at least US$4 million, as part of the disposals of three marine vessels for about US$13.5 million.

The approval from its shareholders for the disposals was obtained at an extraordinary general meeting held on Sept 12, EA Technique said in a Bursa Malaysia filing.

The group said the disposals will allow it to streamline its fleet of vessels and realise the value of its non-profit generating assets.

EA Technique's share price rose 2.5 sen or 55.56% to seven sen on Monday (Sept 19), valuing the group at RM33.42 million.