- The Group will continue to focus on extending its product and service offerings, as well as expanding its geographical footprints
- Seeking to collaborate and partner with technology companies in order to foster technology innovation and maintain a competitive edge
- Deleum to appoint a new chairman, effective 1 June 2023
KUALA LUMPUR, 23 MAY 2023 - Leading oil & gas (O&G) services provider Deleum Berhad (“Deleum” or the “Group”),will focus on growth in both its top and bottom lines, spurred by the projected rise in global capital spending in the O&G sector as a result of robust demand for fossil energy.
To fuel the Group’s next phase of growth, Deleum intends to broaden its product and service offerings, as well as regional presence. Deleum will continue to invest in processes and systems to integrate its services on a seamless and robust platform, increasing the Group’s capacity to meet the needs of its clients.
“We value our core businesses and will continue working with our principals to strengthen our position in the industry. While we seek to grow our current business by expanding on market share through cross- and upselling within our various segments, we need to set sights on our next growth impetuses in order to create sustainable earnings. We are not only extending our product and service offerings but also expanding our geographic footprint, particularly in Indonesia and Thailand. This will allow us to better support and increase our client base in the region as demand grows. We are committed to executing our strategic initiatives and effectively leveraging our competitive advantages in order to continue with our commendable earnings track record.” Rao Abdullah Group Chief Executive Officer, Deleum Berhad
The Group is also on the lookout for technological companies with which to collaborate in order to foster technological innovation in its products and services while maintaining its competitive edge. The potential partnership and collaboration with technology partners dovetail Deleum’s aim to achieve transformative growth this year and in the future. Deleum notched up revenue of RM698.0 million in financial year ended 31 December 2022 (FY2022), an increase of 25.0% from the previous year, which was attributed to encouraging spending in the oil and gas sector. Overall growth was delivered across three segments, Power and Machinery, Oilfield Services, and Integrated Corrosion Solution.
Deleum appoints a new Chairman
At the Annual General Meeting today, Deleum announced that the Company has appointed Tan Sri Dato’ Seri Shamsul Azhar bin Abbas as its Chairman effective 1 June 2023, succeeding Dato’ Izham Bin Mahmud. Dato’ Izham, 82 years old, will continue to remain on Deleum’s Board as Non-Independent Non-Executive Director.
Dato’ Izham was appointed to the Board on 21 December 2005. He is one of the co-founders of Deleum Services Sdn Bhd (Deleum Services), a wholly owned subsidiary of Deleum Berhad. Dato’ Izham joined Deleum Services as its Chairman upon his retirement as Managing Director of Aseambankers Malaysia Berhad in 1996 and was subsequently appointed as the Executive Chairman in 2000.
He served as the Executive Chairman of Deleum Berhad until his retirement on May 31, 2010, after which he became Non-Executive Chairman until present. With his years of experience and valuable skill sets, he has greatly contributed to the Group’s business successes over the last 27 years.
“I have served as Deleum’s Chairman since it was listed in 2007 and I am proud of how the Company has successfully overcome numerous challenges and was able to deliver on its commitment to the stakeholders. I am confident Tan Sri Shamsul Azhar as Chairman of the Board, given his vast experience mainly in oil and gas sector will successfully lead the Company and continue to build momentum towards future growth. I wish him all the best.” Dato’ Izham Bin Mahmud Non-Independent Non-Executive Chairman, Deleum Berhad
Tan Sri Shamsul Azhar joined the Board on 9 June 2022. He has had an illustrious career in the O&G industry having been in the industry for more than 40 years. He has also served on various boards of public listed companies.
About Deleum Bhd
Deleum Berhad is an investment holding company and through its subsidiaries, provides a diverse range of supporting specialised products and services to the oil and gas industry, particularly in the exploration and production sector. Its range of products and services is distinguished according to its three core business segments – Power and Machinery, Oilfield Services and Integrated Corrosion Solutions. Deleum is listed on the Main Market of Bursa Malaysia.