Latest news with #Deleum
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.
Malaysian Reserve
16-06-2025
- Business
- Malaysian Reserve
Deleum expands Thai footprint with RM60m oilfield acquisition
DELEUM Bhd is expanding its regional presence with a proposed acquisition of an oilfield services business in Thailand worth RM60 million, as part of efforts to scale up its operations in the region. According to a filing with Bursa Malaysia, its indirect subsidiary Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) has entered into a sale and purchase agreement with Thailand-based MPC Future Co Ltd to acquire the latter's oil and gas business and assets — excluding its e-line operations. The RM60 million consideration comprises the issuance of new ordinary and preference shares in DOST to MPC, amounting to a combined 48.34% stake in the Thai entity, and a cash payment for the remainder of the deal value. The cash portion will be funded via bank borrowings from Deleum's wholly owned unit, Deleum Services Sdn Bhd (DSSB). As part of the deal structure, DOST will also issue a 1.73% stake to a local entity controlled by Suthee Chivaphongse — who is currently a director and major shareholder of DOST — for THB10 million under a separate subscription agreement. This related party transaction is intended to retain local expertise and is not expected to materially affect the group's financial position. The target business comprises slickline, hydraulic workover and wellhead maintenance services, as well as related assets valued at about RM50 million as of June 2024. The acquisition includes operational contracts, equipment, and leases tied to the business. Upon completion, DOST's paid-up capital will rise to THB576.8 million, with DSSB retaining control by holding a 49.93% stake and the right to appoint a majority of directors. The remaining shares will be held by MPC and the Suthee-controlled entity. The acquisition is subject to several conditions precedent and completion is expected in the second half of 2025. Deleum said the acquisition is a strategic move to grow its presence in Thailand and achieve operational synergies through DOST. The proposed transaction will strengthen DOST's oil and gas services segment and is expected to be value-accretive to the group over the long term. The transaction will not impact Deleum's share capital or shareholder structure, but may raise its gearing level. Nonetheless, the board believes it remains at a manageable level. The board and audit committee concluded that both the acquisition and related party subscription are fair, on commercial terms, and in the best interest of the group and minority shareholders. — TMR
New Straits Times
04-06-2025
- 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
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.
