PETALING JAYA: T7 Global Bhd has secured a fresh mandate from Petroliam Nasional Bhd (Petronas), reinforcing its position within Malaysia’s energy services landscape.

In a Bursa Malaysia filing on Friday, the group announced that subsidiary T7 Intelligent Resources Sdn Bhd has received a letter of appointment from Petronas to serve as a panel contractor for third-party professional and support services across the Petronas Group of Companies.

The appointment, effective from Jan 1, runs for two years and positions T7 Intelligent Resources within Petronas’ approved panel for the provision of professional and support services. According to the filing, Petronas granted approval on Feb 20 for the company to make the announcement.

While the appointment does not guarantee a fixed contract value, it enables T7 Intelligent Resources to undertake work assignments issued by Petronas during the tenure.

The board noted that any financial contribution will depend on the issuance of specific work orders, but it expects the appointment to contribute positively to the group’s earnings and net assets for the financial year ending December 31, 2026.

The company acknowledged customary execution risks, including the availability of skilled manpower, equipment readiness and regulatory considerations. However, it emphasised that T7 Intelligent Resources has the track record and technical expertise required to manage and mitigate these factors effectively.

Importantly, the appointment does not affect T7 Global’s issued share capital or the shareholdings of its substantial shareholders.

The board confirmed that none of the directors, major shareholders or persons connected to them have any direct or indirect interest in the appointment, and that shareholder approval is not required.

The board stated in the Bursa Malaysia filing that after reviewing the terms and implications, it is of the view that the appointment is in the best interest of the company.

 The Sun Malaysia