SHAH ALAM: T7 Marine Sdn Bhd – the wholly owned subsidiary of listed T7 Global – has signed an MOU with Japanese company, Mitsui E&S Shipbuilding Co. Ltd (MES) to collaborate in various activities and explore new business opportunities for supply of ships to Vietnam People’s Navy and Vietnam Coast Guard.
The MOU was signed on 27 August, said T7 Global in an announcement to Bursa Malaysia. The salient terms of the MOU.
The Agreement is established to record the Parties’ intention and understanding to collaborate in various business activities and explore new business opportunitiesfor supply of ships to Vietnam People’s navy and Vietnam Coast Guard.
The Agreement will provide opportunities for the Parties to establish collaboration based on the respective party’s expertise and strengths to explore opportunitiesfor shipand/or vessel business in Vietnam. The Agreement also aims at obtaining business for supply of the ships from the Vietnam People’s Navy and Vietnam Coast Guard.
T7 Marine is the company behind the CMS upgrade for the KD Jebat which was announced in 2019. T7 Marine holds 40 per cent of the JV company while Marine Crest Technology Bhd and Indian firm, C2C-DB Systems Pvt Ltd, hold 30 per cent stake each.
And although Jebat had been undergoing the refit to install the CMS since last year, it appears that the ship is not yet ready for duty as only her sister ship, KD Lekiu, has been on patrol since early April as part of Op Benteng, the multi agency task force assigned to prevent the intrusion of Malaysian borders from criminals and illegal immigrants.
The MOU between T7 Marine and MES also came in the wake of reports that Vietnam had agreed to get a loan from Japan to buy six coast guard ships from the latter.
Vietnam on Tuesday signed an agreement with the Japan International Cooperation Agency (JICA) to borrow 36.63 billion yen ($348.2 million) to build six patrol vessels, state media reported, amid rising tensions in the South China Sea.
MES which build destroyers for the Japanese maritime self-defence force ships and the coast guards is likely one of the shipbuilders vying to build the ships destined for Vietnam. And if, they – T7 and MES – gets the Vietnamese contract or even the losing finalist, who is to say that they will also not pursue the same deal for the Malaysian Maritime Enforcement Agency or the Marine police or even the RMN requirements?
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