EA Technique charts path out of PN17 with robust financials and new contracts

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EA Technique charts path out of PN17 with robust financials and new contracts - Malay Mail

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KUALA LUMPUR, Oct 10 — After more than two years of preparations to exit its Practice Note 17 (PN17) status, EA Techniqu...

For us, it is about uplifting the company from PN17, which requires two consecutive profitable quarters — specifically, Q3 and Q4,” Nasrul told Malay Mail in an interview at EATech’s headquarters.“We have already achieved a utilisation rate of 97 per cent.

Despite this setback, Nasrul said that EATech has been profitable for the past 30 years, barring the time spent on the EPCIC venture, which resulted in its PN17 status.“Fast forward to today, we launched a scheme of arrangement, received court sanction in January 2023, and submitted a proposal to Bursa for approval.