PETALING JAYA: T7 Global Bhd is partnering with C2C-DB Systems Pvt Ltd (C2C-DBS) and Marine Crest Technology Sdn Bhd (MCT) for the marine services and naval technology business in Malaysia.
T7 Global told Bursa Malaysia that its wholly-owned subsidiary T7 Marine Sdn Bhd had entered into a head of agreement with the two parties to form a joint venture company (JV).
T7 Marine will hold a 40% stake in the JV, while C2C-DBS and MCT will own 30% respectively.
T7 Marine is principally involved in project management, marine engineering and services, underwater, subsea services and marine technology.
“This joint venture via the JV will provide T7 Marine with an opportunity for growth as well as leveraging on the technical capabilities of C2C-DBS and MCT in marine services and naval technology business in Malaysia,” the group said.
Should the collaboration materialise, it is expected to contribute positively to the future earnings of the group.
At the noon break, T7 Global’s share price was down 1.5 sen or 2.9% to 51 sen on 2.31 million shares done.
