Oil and gas services company Deleum Bhd has strengthened its capacity to capture the rising demand for valve solutions by acquiring a 70% stake in Indonesia-based PT OSA Industries Indonesia (PT OSA) for USD 7M (equivalent to RM 31.3M).
Deleum’s wholly-owned subsidiary Deleum Services Sdn Bhd (DSSB) has signed a Share Purchase Agreement with OSA Industries Pte Ltd to acquire the majority stake in PT OSA, with DSSB represented by Deleum’s Group Chief Executive Officer Rao Abdullah, and the vendor represented by its director, Ong Siow Aik. The balance 30% stake in PT OSA remains being held by the existing Indonesian shareholder.
PT OSA, founded in 1994 by Ong Siow Aik, is a supplier of valves and valve maintenance services in Indonesia, including for the oil and gas industry. Since 2017, it has been the sole channel partner for Baker Hughes valves, such as safety and control valves, ball valves, and actuators.
PT OSA serves energy majors through its 72-strong team, supported by its well-equipped service facility in Cikarang, Indonesia. The acquisition would complement and fortify the existing technical expertise and capabilities of Deleum’s valve management segment through DSSB’s subsidiary Penaga Dresser Sdn Bhd.
It is the sole channel partner for Baker Hughes valves for Malaysia’s oil, gas, and energy industries. The strategic location of service facilities in Terengganu, Johor, Sabah, and Sarawak positions Penaga Dresser favourably to provide seamless on- to-offshore services to prominent international customers and principals.