Deleum ... May10

It is optimistic on the outlook for its operations following the expansion of its support services targeted at the players in the oil and gas (O&G) industry.

Its recent acquisition of Rotary Technical Services Sdn Bhd, via its subsidiary Delcom Services Sdn Bhd, has enabled the group to expand its current array of services it can provide to the O&G players.

Deleum specialises in providing a diverse range of products and services for the O&G industry, particularly the exploration and production of oil and gas. Whereas Rotary, which it acquired for RM10.7 million, provides servicing, repair, modification, upgrading and installation of machinery and equipment, mainly in motors, generators, transformers, pumps and valves. But by year-end, it should be enjoying some favourable contracts from this segment.

The group planned to continue growing its offshore business which contributes about 95% of its revenues, domestically and overseas.

The group had participated in tenders for jobs worth RM300 million. The group had a total of RM1 billion worth of contracts in hand which would keep it busy until 2015.