Deleum's unit acquires oilfield service business in Thailand for RM60mil
PETALING JAYA: Deleum Bhd will acquire oilfield services assets and business in Thailand for RM60mil.
The oil and gas company said this move is part of its strategic growth plan for regional expansion.
Deleum will, through its Thai subsidiary named Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) purchase assets including slickline, hydraulic workover and well head maintenance from MPC Future Co Ltd.
The purchase consideration for these assets would be satisfied through a combination of cash payment and issuance of new shares in DOST, it said.
This will result in Deleum being a 49.93% and MPC a 48.34% shareholder of DOST after this corporate transaction, it added.
'The proposed acquisition is aligned with Deleum's strategy to strengthen its regional footprint and enhance its service offerings beyond Malaysia,' it said.
Barring unforeseen circumstances, the company said this acquisition is expected to be completed within the second half of 2025.
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9 hours ago
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Deleum's unit acquires oilfield service business in Thailand for RM60mil
PETALING JAYA: Deleum Bhd will acquire oilfield services assets and business in Thailand for RM60mil. The oil and gas company said this move is part of its strategic growth plan for regional expansion. Deleum will, through its Thai subsidiary named Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) purchase assets including slickline, hydraulic workover and well head maintenance from MPC Future Co Ltd. The purchase consideration for these assets would be satisfied through a combination of cash payment and issuance of new shares in DOST, it said. This will result in Deleum being a 49.93% and MPC a 48.34% shareholder of DOST after this corporate transaction, it added. 'The proposed acquisition is aligned with Deleum's strategy to strengthen its regional footprint and enhance its service offerings beyond Malaysia,' it said. Barring unforeseen circumstances, the company said this acquisition is expected to be completed within the second half of 2025.
New Straits Times
11 hours ago
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Deleum expands Thai footprint with RM60mil oilfield acquisition
KUALA LUMPUR: Deleum Bhd, via its indirect subsidiary Deleum Oilfield Solutions (Thailand) Co Ltd (DOST), is acquiring the oilfield services assets and businesses of Thailand's MPC Future Co Ltd for RM60 million. 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.
