PETALING JAYA: Deleum Bhd
’s wholly-owned subsidiary Deleum Services Sdn Bhd (DSSB) has purchased an additional 16% stake in gas turbine supplier Turboservices Sdn Bhd (TSSB) from Solar Turbines International Co 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.
“With the increase in the equity interest held by DSSB, there will be a higher share of TSSB’s future profits to the company,” said Deleum.
The company added that the acquisition is not expected to have any material effect on its earnings per share, net assets per share and gearing for the financial year ending Dec 31, 2024.
“The acquisition will not have any effect on the share capital and substantial shareholders’ shareholdings of the company.
