E.A. Technique (M) Berhad (EATech) (KLSE:EATECH), which has roughly a month to submit its financial regularisation plan to the stock exchange, might have found a white knight. The prominent businessman is said to be contemplating the possibility of taking a substantial stake in the Practice Note 17 company, according to various sources familiar with the matter. Rashid, who is also one of the founders of Eco World Development Group Bhd (EcoWorld), might be acquiring shares from Sindora Bhd, a subsidiary of Johor Corporation (JCorp).

Through Sindora, the Johor government investment arm holds a 50.05% stake in EATech. JCorp is also an indirect shareholder of EATech through the 2.43% stake held by Kulim (M) Bhd.