Oil and gas service provider Deleum Berhad has completed the 70% equity interest acquisition of PT OSA Industries Indonesia, which supplies spare parts and maintenance of valves, for US$7 million or approximately RM31.3 million.
In the group’s statement, the acquisition via wholly owned subsidiary Deleum Services Sdn Bhd strengthens the group’s presence in the Southeast Asian oil and gas sector, boosting its technical capabilities in valve maintenance and extending its operational footprint in Indonesia.
PT OSA has been the exclusive channel partner for Baker Hughes valves in Indonesia and has a facility in Cikarang with a team of over 70 technical personnel. It would complement Deleum’s valve supplier subsidiary, Penaga Dresser Sdn Bhd.
Deleum said it will shift its focus towards integrating PT OSA’s operations to begin cross-border synergy and share technical expertise between the Malaysian and Indonesian teams.
“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,” said Deleum Group CEO Ramanrao Abdullah.
“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,” he said in a statement.
PT OSA reported its revenue increasing from RM23.2 million in 2021 to RM33.6 million in 2023. The acquisition includes a profit guarantee of approximately RM12.1 million for the financial years 2024 and 2025.
Deleum reported a net profit of RM12.4 million for the first quarter of 2025, up 34.2% from the corresponding quarter last year, supported by growth across both the Group’s core segments, Power and Machinery and Oilfield Integrated Services.
The Power and Machinery segment contributed RM135 million of revenue or 96.9% of Deleum’s total segment revenue for the cumulative quarters ending 31 December 2024.
The share price of Deleum was at RM1.46 at 2.30pm, giving a market capitalisation of RM586 million.