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OIL and gas service provider Deleum Bhd has been one of the most consistent oil and gas stocks on the local stock exchange and has gained some 11% in its share price year-to-date. Given its increasingly positive outlook and healthy order book, the company still finds itself playing second fiddle to other big boys in the industry.
PETALING JAYA: Deleum Bhd, through 60%-owned subsidiary Deleum Primera Sdn Bhd, has become the third listed company in the last one week to announce that it has been awarded a Petronas Carigali Sdn Bhd contract to provide maintenance, construction and modification (MCM) services.
PETALING JAYA: Deleum Bhd’s subsidiaries, Deleum Primera Sdn Bhd and Deleum Oilfield Services Sdn Bhd, have won a series of contracts from Petroliam Nasional Bhd (Petronas) and Shell. The contracts are, on average, over a three-year period, beginning 2018 to 2021 with options for extension.
PETALING JAYA: Oil and gas (O&G) services provider Deleum Bhd expects next year to be as difficult as this year although the prices of crude oil seem to have stabilised at higher levels.
PETALING JAYA: Deleum Bhd has consistently been distributing about 50% of its net profit as dividend, giving the stock a potential dividend yield of more than 5%, said MIDF Research in its recent report.