Deleum explores expansion in Indonesia

PETALING JAYA: Deleum Bhd seeks to fortify its power and machinery business in Indonesia through a proposed acquisition of a 70% stake, or 17,500 shares, in PT OSA Industries Indonesia (OSAII) for US$7mil (RM33.09mil).

The oil and gas services provider said its wholly owned subsidiary, Deleum Services Sdn Bhd, signed the preliminary agreement yesterday for the proposed acquisition with OSA Industries Pte Ltd, OSAII, PT OSA Megah Indonesia (MI), Ong Siow Aik, a Singaporean, and Erik Aristino and Fenty Herlinda, both Indonesian citizens.