Latest news with #DeleumBhd
The Star
16-06-2025
- Business
- The Star
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
16-06-2025
- Business
- New Straits Times
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.
The Star
03-06-2025
- Business
- The Star
Deleum expands ops in Indonesia
PETALING JAYA: Deleum Bhd has completed its acquisition of a 70% equity interest in PT OSA Industries Indonesia (PT OSA) for US$7mil. PT OSA is an established Indonesian company specialising in the supply, servicing, and maintenance of valves for the oil and gas (O&G) sector. In a filing with Bursa Malaysia yesterday, Deleum said the acquisition, executed via its wholly-owned subsidiary, Deleum Services Sdn Bhd, was a strategic move aligned with the group's regional expansion plan. 'The acquisition strengthens Deleum's presence in the South-East Asian O&G sector, boosting its technical capabilities in valve maintenance and extending its operational footprint in Indonesia,' it said. Deleum said that with the completion of the acquisition, it would focus on integrating PT OSA's operations and enhancing cooperation between its Malaysian and Indonesian teams to improve service efficiency, accelerate deliveries, and facilitate the exchange of technical expertise.
New Straits Times
03-06-2025
- Business
- New Straits Times
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.
