Latest news with #RaoAbdullah
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.
