T7 Global wins five-year contract from IPC Malaysia

T7 Global Bhd said that its wholly-owned subsidiary, Tanjung Offshore Services Sdn Bhd, has received a letter of award from IPC Malaysia BV for the provision of maintenance, construction, modification (MCM), and hook-up & commissioning (HUC) services under the B3 Package across Pan-Malaysia.

The contract, effective from October 25, 2024, will span a five-year period, with two extension options of three years and two years, respectively.

The announcement did not include the contract’s value, as no financial specifics were disclosed in T7 Global’s stock exchange filing today.

Nevertheless, the contract is expected to enhance T7 Global’s earnings and net assets starting from the fiscal year ending December 31, 2024.

T7 Global’s board expressed optimism, noting that this award aligns with the company’s long-term growth strategy and is in the best interest of shareholders. — TMR