T7 Global set to widen aerospace, naval tech biz
KUALA LUMPUR: T7 Global Bhd is expanding its naval technologies and aerospace business with new collaborations formed by its subsidiaries, T7 Aero Sdn Bhd and T7 Marine Sdn Bhd.
In a statement yesterday, it said T7 Aero has formed a collaboration with Beijing Aerospace Yilian Science & Technology Development Co. Ltd (Beijing Aerospace) in various activities pertaining to security products, security systems and security integration projects.
T7 Global said T7 Aero and Beijing Aerospace will cooperate on a sole and exclusive basis in Malaysia.
“This partnership is an important step for T7 Aero to increase our portfolio, equipping the group with capabilities to provide customers with end-toend security integration service,” said T7 Global chairman Datuk Seri Dr Nik Norzrul Thani Nik Hassan Thani.
He said the company plans to
This partnership is an important step for T7 Aero to increase our portfolio, equipping the group with capabilities to provide customers with end-to-end security integration service. Datuk Seri Dr Nik Norzrul Thani Nik Hassan Thani, T7 Global chairman
make Malaysia a leading aerospace nation in Southeast Asia and an integral part of the global market.
“As mentioned by Prime Minister Tun Dr Mahathir Mohamad when he launched LIMA 2019, modern security threats require Malaysia and other countries to continue upgrading and modernising their strategic assets. “The government would continue to facilitate investment projects and business partnerships as well as provide platforms for the aerospace and maritime industries.” he added.
Meanwhile, T7 Marine, C2C-DB Systems Pvt. Ltd (C2C-DBS) and Marine Crest Technology Sdn Bhd (MCT) will jointly develop marine services and naval technology services via newly-incorporated company TCM Innovations Sdn Bhd.
It said T7 Marine will hold 40 per cent of TCM Innovations' shareholding, with C2C-DBS and MCT each owning 30 per cent of the company.
Nik Norzrul Thani said the scope of collaboration will enable capability building, transfer of technology and research & development improvement.
“We also hope that this will also benefit the company as well as the country's economy.
“The formation of the joint venture company will enable T7 Marine to leverage on C2C-DBS and MCT's expertise, knowledge and support that would be an added advantage to T7 Marine to secure marine services and naval technology business,” he added.
Both agreements were signed today at the 2019 Langkawi International Maritime and Aerospace (LIMA'19) Exhibition, witnessed by Defence Minister Mohamad Sabu. — Bernama