T7 Global shares jump after Aussie unit hits oil, wins RM7.2m jobs

PETALING JAYA: T7 Global Bhd's share price jumped 7.79% this morning after its Australian investment under Triangle Energy (Global) Ltd, hit oil in the Perth Basin, and it won two contracts worth RM7.2 million.
At 10.20am, its share price stood at 41.5 sen with 5.47 million shares changing hands. Its market capitalisation stood at RM146.89 million.
T7 owns a 9.86% in Triangle Energy, which is listed on the Australian Securities Exchange. Oil was discovered in Xanadu-1 well in the Perth Basin.
T7 said its unit Tanjung Offshore Services Sdn Bhd (TOS) was awarded an umbrella contract worth RM5 million to provide manpower services from Petroliam Nasional Bhd's subsidiary PRPC Utilities and Facilities Sdn Bhd.
The second project worth RM2.2 million, involves refurbishment works to reuse the existing steel storage tanks and to supply, fabricate and install new steel storage tanks and associated works at the Chan Sow Lin and Bandar Malaysia North MRT launching site.