KUALA LUMPUR (Sept 2): T7 Global Bhd announced Tan Sri Koh Kin Lip's appointment as independent and non-executive director of the oil and gas service provider, effective today.

In a Bursa Malaysia filing today, T7 Global said Koh, 71, is also director in Bursa-listed companies NPC Resources Bhd, Cocoaland Holdings Bhd and IOI Properties Group Bhd.

"Koh began his career in Standard Chartered Bank, Sandakan in 1977 as a trainee assistant.

"In 1978, he joined his family business which was principally involved in administrative and financial matters. In 1985, he assumed the role as chief executive officer of his family business.

"In 1987, he was pivotal and instrumental in the formation of Rickoh Holdings Sdn Bhd, the flagship company of the family businesses," T7 Global said.

According to T7 Global, Rickoh and its group of companies have since continued to grow by diversifying their businesses, which now include property development, oil palm plantations and information technology.

In a separate statement today, T7 Global described Koh, who is also known as Richard, as a low-profile and well-known businessman from Sabah.

"Koh has been a passive investor of (in) T7 Global since 2017," it said.

At a glance, T7 Global's share price jumped in afternoon trades today after the announcement on Koh's appointment.

The counter closed up 10 sen or 22.22% at 55 sen for a market capitalisation of RM282.98 million. The stock saw some 51 million shares traded.

Edited by Chong Jin Hun