KUALA LUMPUR: T7 Global Bhd, via wholly-owned T7 Wenmax Sdn Bhd, has signed an exclusive agency agreement with UK-based Oliver Valves Ltd.
T7 Wenmax managing director Michael Aziz Eu said it would act as the sole and exclusive agent for the marketing and sales of valve solutions across Malaysia.
The company was bidding for RM100 million to RM200 million worth of contracts in Malaysia, he added.
"Wenmax is now focused on the Malaysian oil and gas industry and definitely we are looking at other markets in Southeast Asian countries.
"Then, there are always Thailand, Vietnam and Myanmar, hopefully in next one to two years," he told reporters after the signing ceremony.
Michael and Oliver Valves sales director Richard Bedford signed the agreement at the Oil and Gas Asia (OGA) 2019 Exhibition here today.
T7 Global chairman Datuk Seri Dr Nik Norzrul Thani said the oil and gas valves market in Malaysia was expected to witness healthy growth rates due to the growing energy needs, new projects such as Petronas’ Pengerang Integrated Complex project and continuous indistrialisation and urbanisation in Malaysia.
“The group strives to understand the needs of its customers and provide solutions to cater to those needs, acting much more than just sales agents but also business that build partnerships on trust, knowledge and passion for the industry.
“This move strengthens the group’s existing capabilities while providing a significant competitive edge, setting another great example of the group’s commitment to tap into lucrative business opportunities in the interest of strengthening the nations oil and gas sector as a whole apart from maximising value for all our stakeholders,” he said.
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