T7 Global lands RM16.93m contract from ECERDC to build fish processing park

KUALA LUMPUR (Sept 15): T7 Global Bhd has landed a contract worth RM16.93 million from the East Coast Economic Region Development Council (ECERDC) to build the Endau-Mersing Fish Processing Park in Endau, Johor.

In a bourse filing today, T7 Global said its unit Tanjung Offshore Services Sdn Bhd had received a letter of award dated Aug 28 from ECERDC for the project.

It said the duration of the contract is 78 weeks, commencing from Sept 9, 2020 until March 8, 2022.

The firm said the risk factors affecting the contract include execution risks such as availability of supplies, equipment, construction and regulatory conditions.

“Nevertheless, Tanjung Offshore will undertake all the necessary efforts to mitigate the various risk factors identified.

“Throughout the years, Tanjung Offshore has established its track record and expertise to undertake and execute similar projects,” it said.

T7 Global said the contract is expected to contribute positively towards the earnings for the financial year ending Dec 31, 2020.

At the midday break today, T7 Global fell 4.17% or 2 sen to 46 sen, valuing it at RM244.65 million. It saw some 1.51 million shares traded.

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