Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 6): Shares in oil and gas (O&G) service provider T7 Global Bhd rose 2.25% this morning after it teamed up with Hong Kong-based DIV Diving Engineering Co Ltd and Singapore's Cornerstone Offshore Pte Ltd to carry out underwater subsea engineering services for the O&G industry in Malaysia.

At 9.37am, T7 Global rose 1 sen to 45.5 sen with 841,300 shares done.

In a bourse filing last Friday, T7 Global said its wholly-owned subsidiary T7 Marine Sdn Bhd has entered into a shareholder agreement with the two companies to jointly form a special purpose vehicle (SPV) for the proposed business.

T7 Marine will hold a 55% stake in the SPV, while DIV Diving will own 30% and Cornerstone the remaining 15%.

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