Latest news with #PTOSA
New Straits Times
2 days ago
- Business
- New Straits Times
Deleum's 70pct stake in PT OSA to boost Southeast Asia presence
KUALA LUMPUR: Oil and gas services provider Deleum Bhd's 70 per cent acquisition of PT OSA Industries Indonesia (PT OSA) for RM31.3 million is set to enhance its presence in Southeast Asia, strengthen its technical expertise in valve services, and broaden its operations within Indonesia. In a research note today, MIDF Amanah Investment Bank (MIDF) opined that the acquisition, carried out through Deleum's wholly owned subsidiary Deleum Services Sdn Bhd, also complemented the group's current valve business under its subsidiary, Penaga Dresser Sdn Bhd. "The acquisition aligns with the group's expected growth trajectory, and we had anticipated it as a logical step to support long-term operational benefits. "Going forward, Deleum will likely focus on integrating PT OSA's operations and aligning business processes," it said. MIDF said the integration with PT OSA is expected to unlock synergies such as improving valve lifecycle management services, streamlining delivery mechanisms, and fostering knowledge sharing with the Indonesian team. "We make no changes in its forecast projection for Deleum, as we had factored in this acquisition in its estimates. "We maintain our 'buy' call, with a target price of RM1.92," MIDF said.
The Star
3 days ago
- 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
3 days ago
- 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.
The Star
3 days ago
- Business
- The Star
Deleum completes 70% equity purchase of PT OSA Industries
Deleum group CEO Rao Abdullah — AZLINA ABDULLAH/The Star KUALA LUMPUR: Following the completion of its acquisition of a 70% stake in PT OSA Industries Indonesia (PT OSA), Deleum Bhd said it will shift its focus towards integrating PT OSA's operations and aligning business practices to unlock cross-border synergies. The oil and gas (O&G) services provider said the US$7mil (about RM31.3mil) purchase strengthens its presence in the Southeast Asian O&G sector, boosting its technical capabilities in valve maintenance and extending its operational footprint in Indonesia. The acquisition also complements the group's existing valve business under its subsidiary, Penaga Dresser Sdn Bhd, based in Malaysia. PT OSA, which specialises in the supply, servicing, and maintenance of valves for the O&G sector, is the exclusive channel partner for Baker Hughes valves in Indonesia, serving major clients in the energy and industrial sectors through its facility in Cikarang with a team of over 70 technical personnel. The acquisition, made via Deleum's wholly-owned subsidiary, Deleum Services Sdn Bhd, includes a profit guarantee of US$2.7 mil (about RM12.1mil) for the financial years ended/ending Dec 31, 2024, and 2025. The group said it 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 'The completion of the acquisition marks a strategic turning point for Deleum as we move beyond domestic borders to establish a stronger regional platform. We are committed to strengthen the business under our stewardship, driving long term-value. 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's value through sustainable growth," said group CEO Rao Abdullah in a statement.
