KUALA LUMPUR (July 27): Lawyer Ian Shang Kuan Chou Chuen has emerged as a substantial shareholder of T7 Global Bhd (KL:T7GLOBAL) after increasing his stake in the oil and gas services provider to 6.17%.

Shang acquired 13.89 million shares, lifting his direct interest above the 5% threshold required for substantial shareholders, a Bursa Malaysia filing on Monday showed. The filing did not disclose the transaction price, but based on Monday's closing price of 25.5 sen, the stake has a market value of about RM3.54 million.

Shang first appeared in T7 Global's 2024 annual report with a 2.516% direct stake and warrants representing another 2.517%. According to the group's 2025 annual report, his direct shareholding had increased to 4.055%, while his warrant holdings remained unchanged.

The emergence of the new substantial shareholder comes as T7 Global has secured a slew of contracts in recent months, including its appointment as a PETRONAS panel contractor to provide third-party professional and support services. In April, the group also secured a one-year work order from Vestigo Petroleum Sdn Bhd.

For the financial year ended Dec 31, 2025, T7 Global posted a net profit of RM46.75 million on revenue of RM721.17 million.

The group's largest shareholder remains Tan Sri Dr Nik Norzrul Thani N Hassan Thani, who holds a 25.41% stake through Abyssina Resources (M) Sdn Bhd, in addition to a 0.11% direct interest.

Shares of T7 Global closed unchanged at 25.5 sen on Monday, giving the company a market capitalisation of RM254.2 million. The stock has fallen about 15% year to date.