E.A. Technique (M) Bhd (EATech), a Main Market-listed marine transportation and offshore storage outfit, has unveiled plans to adopt a new corporate identity as part of its strategic growth.
This initiative is aligned with the group’s expectations to uplift its Practice Note 17 (PN17) status by 1Q 2025 while reflecting a clear focus on operational excellence and long-term sustainability.
This proposal will be tabled for shareholder approval in a circular and at EATech’s upcoming extraordinary general meeting (EGM) at a date to be announced later.
The proposed name, Avangaad Bhd, is derived from “Avante” which means “moving forward” in Latin and a twist on “Vanguard that symbolises the group’s strategic advancement.
Moving forward, the name reflects EATech’s commitment to leveraging its unparalleled naval expertise to sustain leadership and drive innovation in the maritime industry.
With a focus on continuous innovation, sustainability and business diversification, the group is uniquely positioned as Malaysia’s sole provider of four distinct marine service offerings, thus creating a strong foundation for its sustained growth and value creation.
This milestone highlights the genuine dedication of the business and management team, thus re-affirming the group’s brand positioning and aligning with its target to uplift its PN17 status by 1Q 2025.
It serves as a re-assuring signal to all stakeholders, showing real progress through tangible actions.
Through these, the group believes this initiative will strengthen market confidence and emphasise its on-going efforts to drive and generate greater value for shareholders.
“The proposed name change is an exciting milestone in our journey,” commented EATech’s executive director Datuk Wira Mubarak Hussain Akhtar Husin.
“It reflects our strategic purpose and marks a significant chapter in our pursuit of growth and industry leadership. We are confident that this new identity will resonate deeply with our shareholders, customers and partners as we enter this new phase of development.”
As it is, EATech views this initiative as a critical step in unlocking shareholder value by reinforcing its market presence and ensuring alignment with its evolving business priorities.
The name change proposal will be included in the resolutions for approval at the EGM. Subject to shareholder consent and regulatory clearances, the transition is expected to be finalised by 1Q 2025.
The group will undertake a comprehensive rebranding process, including updates to its logo, branding materials and digital platforms.
At 3.05pm, EATech was up 0.5 sen or 1.69% to 30 sen with 7.09 million shares traded, thus valuing the company at RM398 mil. – Dec 30, 2024
