KUALA LUMPUR: T7 Global Bhd's subsidiary Tanjung Offshore Services has bagged a contract from Carigali Hess Operating Company Sdn Bhd to provide maintenance, construction and modification services.
In a filing with Bursa Malaysia Securities today, T7 Global said the contract will start on Jan 15, 2025, for a period of three year with an option to extend for two years.
"The award will contribute positively to the earnings and net assets of the company for the financial year ending Dec 31, 2025 and onwards until the expiry of the contract," it noted.
According to T7 Global, the risk factors affecting the award include, amongst others, execution risks such as availability of skilled manpower, equipment and regulatory conditions.
Nevertheless, it said Tanjung Offshore will undertake all the necessary efforts to mitigate the various risk factors identified as it has established track records and expertise to undertake anc execute the award.
At midday break, T7 Global's shares were unchanged at 49 sen, giving it a market capitalisation of RM414.98 million.