Deleum expands Thai footprint with RM60mil oilfield acquisition
The deal will be settled through a mix of cash and new DOST shares. Post-acquisition, Deleum will hold a 49.93 per cent stake in DOST, while MPC Future will own 48.34 per cent.
"This acquisition represents a strategic opportunity for Deleum to expand its portfolio and service offerings in Thailand," the company said.
Deleum said the move aligns with its strategy to strengthen regional presence and grow beyond Malaysia.
DOST will remain an indirect subsidiary of Deleum despite the revised shareholding structure.
The acquisition is expected to be completed in the second half of 2025, subject to conditions precedent.
Deleum provides products and services to the oil and gas sector, focusing on power and machinery, and oilfield integrated services.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
20 hours ago
- The Sun
RM2 billion HRD levy fund unlocked for graduate hiring in Malaysia
PETALING JAYA: Human Resources Minister Steven Sim Chee Keong has unveiled a RM2 billion allocation from the human resources development (HRD) levy fund to support graduate hiring. The initiative, described as a Merdeka gift, will allow employers to use levy funds for salaries of university and TVET graduates starting 1 September 2025. Sim made the announcement during his speech at the Federation of Malaysian Manufacturers (FMM) Annual Dinner 2025. He emphasised that the move aims to improve employer cashflow while prioritising human capital development. The minister noted that the policy will create higher-paying jobs and enhance on-the-job training opportunities for graduates. Sim urged industries to balance technological advancements with human capital investment amid rising AI adoption. He warned that AI could diminish the value of traditional academic degrees in the job market. Malaysia has invested RM77.2 billion in digitalisation efforts as of last year, according to the minister. Global tech giants like Google, Microsoft, Bytedance, and Amazon have pledged over RM60 billion in Malaysian investments. The National Semiconductor Strategy has attracted RM46.5 billion in high-tech sector investments, including wafer fabrication and AI chip production. The FMM event also celebrated the organisation's 57th anniversary. Digital Minister Gobind Singh Deo and FMM leaders Tan Sri Soh Thian Lai and Lee Chor Kok attended the dinner. The HRD levy fund initiative aligns with Malaysia's push for skilled workforce development in high-growth industries. Sim's announcement reflects the government's focus on bridging the gap between education and employment. The policy is expected to benefit both employers and fresh graduates entering the competitive job market. - Bernama
Borneo Post
2 days ago
- Borneo Post
Annual fishing safari hailed as ‘soul' of Tanjung Manis
Len Talif (centre) presents the prizes to the winner of Tanjung Manis Fishing Safari's Coastal Shore Category. — Photo by Borhaniza Ali Basah. TANJUNG MANIS (Aug 18): The Tanjung Manis Fishing Safari has become a hallmark community activity that reflects the identity of the area and continues to grow as an event of state significance. This was pointed out by Deputy Minister of Natural Resources and Urban Development Datuk Len Talif Salleh at the closing of the 18th edition of the event yesterday. First organised by the Sarawak Timber Industry Development Corporation (STIDC) in 2005, the event has since become the 'very soul of Tanjung Manis', according to the Kuala Rajang assemblyman. 'This fishing safari is more than just a sport. 'It showcases the strength of our ecosystem and sustainable environment, while serving as a bridge that unites communities, government agencies, the private sector and society through a shared passion,' said Len Talif in his speech. He added that such activities could catalyse comprehensive, balanced and sustainable community development, while also promoting Tanjung Manis as both an investment hub and an international eco-tourism destination. Offering total prizes worth RM60,000, this year's edition registered 146 participants competing in two categories: the deep sea class with 29 anglers, and the coastal shore class with 117 anglers. The participants were not only from the local villages in Belawai, Rajang, Jerijeh, Bandar Baru Tanjung Manis, Semalau, Stalun, Sebayang and Tusok, but also from Kuching, Bintulu, Miri, Limbang and Sibu. Adding on, Len Talif also reflected on Tanjung Manis' transformation since the early 1980s – from mangrove and 'nipah' (marsh palm) swamps, into a thriving industrial hub. He said that Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, then Sarawak's first minister of industrial development in 1987, played a pivotal role in charting its development, followed by the establishment of the Tanjung Manis Timber Processing Zone in 1990 under then-chief minister, the late Tun Pehin Sri Abdul Taib Mahmud. 'Today, Tanjung Manis and the Rajang Delta are positioned for growth across multiple sectors including eco-tourism, shipping, aquaculture, rice, coconut, pineapple and mangrove-based carbon trading. 'Infrastructure such as roads, bridges, electricity and basic amenities have been prioritised to support this transformation,' he said. The establishment of the Rajang Delta Development Agency (Radda) in 2022, with RM1.5 billion funding, said Len Talif, further accelerated the development in central Sarawak through a bottom-up approach, encompassing Mukah, Sarikei and parts of Sibu. 'Under PCDS (Post Covid-19 Development Strategy) 2030, the region including Kapit, Sibu, Sarikei and Mukah, has also been designated as a strategic development hub aligned with green and sustainable economic growth.' Len Talif also emphasised the importance of sustainability in development, citing Sarawak Forestry Corporation (SFC)'s artificial reef projects in Sarawak waters, including off Kuala Rajang, Belawai, Pulau Bruit and Kabong, to preserve marine ecosystems and ensure sustainable fish supply. 'By preserving mangrove forests and promoting carbon trading, we are not only reducing emissions, but also strengthening marine biodiversity. 'This approach ensures that development brings economic benefits, while maintaining ecological balance for future generations,' he stressed. community lead Len Talif Tanjung Manis Fishing Safari
New Straits Times
4 days ago
- New Straits Times
How much is it to raise a child in Malaysia
KUALA LUMPUR: The cost of raising a child from before birth to the age of 18 in a bottom 40 per cent (B40) household ranges between RM93,000 and RM155,000. Licensed financial planner Dr Rajendaran Vairavan said expenses rise sharply as a child grows older, with B40 households spending the most between the ages of 13 and 17, which is about RM40,000 to RM60,000. The figures, however, pale in comparison to the top 20 per cent (T20) income group, where the cost of raising a child can range from RM250,000 to RM470,000. T20 households typically spend RM60,000 to RM100,000 from birth to age four, and between RM100,000 and RM200,000 during the teenage years. Rajendaran said B40 families prioritise affordability, relying on public services such as government schools, community childcare, and public healthcare, with modest outlays on essentials and activities. In contrast, T20 households channel significantly more towards premium options — from international school fees of up to RM50,000 a year to private healthcare and branded baby products — reflecting a preference for exclusivity and quality. "The gap in spending patterns between B40, M40 and T20 families reflects wider socioeconomic disparities. Still, with proper planning and available government support, families can navigate parenthood more confidently," he said. In Malaysia, B40 households earn below RM5,249 a month, M40 households between RM5,250 and RM11,819, while T20 households have monthly incomes exceeding RM11,820.
