OSA Industries Pte Ltd founder and director Ong Siow Aik signing the agreement while Deleum non-executive chairman Tan Sri Shamsul Azhar Abbas and Rao look on.Deleum Bhd is setting its sights on expansion in Southeast Asia after completing the acquisition of a 70% stake in PT OSA Industries Indonesia, group CEO Rao Abdullah said.“Our ambition is to go beyond Malaysia and Indonesia for now.
Organically, Deleum enlarged its revenue base from RM587 million to RM792 million from the financial years ended Dec 31, 2020 to 2023.The Deleum group, through its subsidiaries, provides supporting specialised products and services to the oil and gas industry. “In terms of market size in Indonesia from opex, it’s about US$52 million, compared to Malaysia’s approximately US$25 million. So, there’s a lot of opportunity in terms of the market size to tap into,” Rao said.
PT OSA Industries 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 Industries serves energy majors supported by its service facility in Cikarang, Indonesia.