Corporate results: T7 Global and GDB Holdings

T7 Global bags umbrella contract from Vestigo Petroleum
T7 Global Bhd’s unit Tanjung Offshore Services Sdn Bhd has bagged an umbrella contract from Vestigo Petroleum Sdn Bhd with the contract value shall be as per work order request. In a statement yesterday, T7 the contract is for the provision of integrated well services for well intervention, workover and abandonment under the Pan Malaysia Petroleum Arrangement Contractors (PACs). The contract is from Oct 10, 2019 to Sept 19, 2024. On Oct 22, 2019, T7 was awarded a contract by Petronas Carigali Sdn Bhd to provide integrated well services for intervention, workover and abandonment for the PACs.

GDB’s unit secures RM21m contract
GDB Holdings Bhd via its newly acquired 70%-owned subsidiary, GDB Geotechnics Sdn Bhd (GDBGS), has secured a RM20.67 million contract to undertake piling and substructure works for two serviced apartments blocks, including common facilities and car park in Puchong, Selangor. In an exchange filing yesterday, GDB said it had on Nov 14, 2019 accepted a letter of award and supplementary agreement from SNA Consult Sdn Bhd on behalf of Bison Holdings Sdn Bhd as the main contractor for the proposed development. Bison Holdings is a wholly-owned subsidiary of Hua Yang Bhd. The contract, which GDB intends to fund via internally generated funds, shall commence on Nov 18, 2019, is for a duration of 21 months and is scheduled to be completed by Aug 18, 2021.