Deleum unit ups stake in gas turbine supplier to 90%

KUALA LUMPUR: Deleum Bhd's wholly-owned subsidiary Deleum Services Sdn Bhd has purchased an additional 16% stake in gas turbine supplier Turboservices Sdn Bhd from Solar Turbines International Company for RM7.34mil.

In a filing with Bursa Malaysia, Deleum said the transaction will increase its stake in Turboservices to 90% from the current 74%.

The balance 10% equity in Turboservices will continue to be held by Solar Turbines International.

The group said the acquisition will facilitate increased control over Turboservices' operations and simplify its management.