Johor Corp ups stake in E.A. Technique

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KUALA LUMPUR (Dec 18): Substantial shareholder Johor Corp has upped its stake in shipping firm EA Technique Bhd by acquiring 14.8 million shares or a 2.9% stake.

Following the purchase, the Johor state investment arm now holds 269.8 million shares or a 53.5% equity stake in the firm.

The transaction was completed on December 11, the same day the firm debuted on the Main Board of Bursa Malaysia.

As at 3.24 pm, EA Technique rose 1 sen or 2% to 48.5 sen on trades of some 3.4 million shares, giving it a market capitalisation of RM244.44 million.