Deleum completes RM31mil acquisition to bolster valve business
KUALA LUMPUR: Deleum Bhd's unit Deleum Services Sdn Bhd has completed the acquisition of a 70 per cent stake in PT OSA Industries (PT OSA) for US$7 million (about RM31.3 million).
PT OSA is an Indonesian company specialising in the supply, servicing, and maintenance of valves for the oil and gas (O&G) sector.
The deal includes a profit guarantee of US$2.7 million (RM12.1 million) across the financial years ending Dec 31, 2024, and 2025.
Chief executive officer Rao Abdullah said the completion of the acquisition marks a strategic turning point for Deleum as it moves beyond domestic borders to establish a stronger regional platform.
"With our technical capabilities, market insights, and fresh perspective, we believe we can further enhance PT OSA's capabilities and performance.
"Our goal is to expand PT OSA's market reach within Indonesia, delivering more comprehensive solutions to our customers and ultimately increasing shareholder value through sustainable growth," he said in a statement.
Deleum said the acquisition strengthens the company's presence in the Southeast Asian O&G sector, boosting its technical capabilities in valve maintenance and extending its operational footprint in Indonesia.
It also complements the group's existing valve business under its subsidiary, Penaga Dresser Sdn Bhd.
"With the acquisition now completed, Deleum will shift its focus towards integrating PT OSA's operations and aligning business practices to unlock cross-border synergies.
"The company plans to enhance valve lifecycle management services, streamline delivery processes, and share technical expertise between the Malaysian and Indonesian teams.
"These integration efforts will enable Deleum to deliver more comprehensive, regional scale solutions to customers across Southeast Asia," it added.
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