KUALA LUMPUR: T7 Global Bhd's subsidiary Tanjung Offshore Services Sdn Bhd has secured a contract from IPC Malaysia B.V for pan-Malaysia offshore services.
The contract entails pan-Malaysia maintenance, construction, modification as well as hook-up and commissioning services for B3 package.
The contract commenced on Oct 25, 2024 and is effective for five years until Oct 24, 2029.
It has an additional three years for the first extension and another two years for the second extension option.
In a filing with Bursa Malaysia, T7 Global said the award will contribute positively to the company's earnings and net assets for the financial year ending Dec 31, 2024 and onwards until the contract expires.
T7 Global's share price rose half a sen or 0.98 per cent to 52 sen at midday, bringing its market capitalisation to RM428.86 million.