KUALA LUMPUR, June 4 — Daya Materials Bhd’s share price on Bursa Malaysia eased after its unit, Meridian Orbit Sdn Bhd, terminated a memorandum of understanding (MoU) signed in March with Glotel Sdn Bhd.

As at 9.40am, the counter eased half-a-sen to 11 sen with 1.69 million shares changing hands.

In a filing to Bursa Malaysia yesterday, the oil and gas service player  said the MoU was deemed terminated effective June 3, but it did not provide any reason.

The objective of the MoU was to jointly study, evaluate and tender for sub-sea installation projects within the South-East Asia region. — Bernama