This article first appeared in The Edge Financial Daily on April 16, 2019

KUALA LUMPUR: Former Royal Malaysian Navy (RMN) chief Admiral (Rtd) Tan Sri Ahmad Kamarulzaman Ahmad Badaruddin has joined T7 Global Bhd’s board of directors as an independent, non-executive director.

In a filing with Bursa Malaysia yesterday, the oil and gas services provider said the 60-year-old, who retired in November last year, has strong strategic networks with government and corporate organisations, both at the national and regional levels, after having served the country for 42 years and held numerous positions in the navy and joint services.

In particular, it said, Ahmad Kamarulzaman had, during his three-year tenure as the 16th chief of the RMN, managed over 20,000 navy personnel with an annual operating and development expenditure of about RM3 billion.

The appointment came after T7 Global’s recent announcement that it had formed a joint-venture (JV) company to engage in the marine services and naval technology business in Malaysia.

On March 19, it said its wholly-owned subsidiary T7 Marine Sdn Bhd had signed a heads of agreement with Marine Crest Technology Sdn Bhd and India-based

C2C-DB Systems Pvt Ltd (C2C-DBS) for the formation of the JV company, whereby T7 Marine will own a 40% shareholding in the JV company, while C2C-DBS and Marine Crest will each hold a 30% stake.

T7 Global shares slipped two sen or 3.81% to 50.5 sen yesterday after 3.49 million shares were traded. The stock has jumped 58% year to date to now value the group at RM209.31 million.