KUALA LUMPUR: EA Technique (M) Bhd has entered a deal to dispose of its oil/chemical tanker, the Nautica Renggam, to shipping firm C&M Co Ltd for US$5.05mil (RM21mil) cash.

       In a filing with Bursa Malaysia yesterday, the Practice Note 17 company said the transaction is tentatively scheduled for completion by the end of this month.

       The proceeds of the sale will be used for working capital and payment of the broker’s fee.

       The tanker was purchased by the company on May 13, 2016, at RM18mil, excluding refurbishment cost.