• Group pre-tax profit for 2Q23 up 45% and net profit up 15%, on 49% rise in revenue
• Power and Machinery segment profit before tax surges 140% to RM17.3 million in 2Q23, supported by encouraging capital spending in Oil and Gas sector
• Focus on new area of growth for Oilfield Services segment sees multiple new solid control contracts aggregating RM64.0 million secured so far

KUALA LUMPUR, 29 AUGUST 2023 - Leading oil & gas (O&G) services provider Deleum Berhad (“Deleum” or the “Group”), recorded an increase of 45% in group pre-tax profit to RM18.3 million and 15% in group net profit to RM9.7 million in the second quarter ended 30 June 2023 (2Q23), from RM12.7 million and RM8.5 million respectively in the same period last year, primarily due to the significant contribution from its Power and Machinery (P&M) segment.

P&M segment remained the Group’s key growth driver in 2Q23 financial performance. The substantial boost in P&M segment revenue more than offset the reduced contributions from both Oilfield Services (OS) and Integrated Corrosion Solution (ICS) segments, effectively increasing 2Q23 group revenue by 49% to RM188.1 million from RM126.3 million in the previous year.

For the six months ended 30 June 2023 (1H23), the Group’s pre-tax profit increased by 37% from RM24.5 million to RM33.6 million. Accordingly, net profit rose 14% to RM18.9 million from RM16.6 million in the previous year, while revenue increased 36% to RM311.5 million from RM229.1 million.

“We are excited about our strong start of the first half of the year, brought about by our P & M segment. Our momentum is expected to maintain, supported by the encouraging capital spending in the O & G sector. Looking ahead to the second half of the year, we anticipate that the O&G sector will remain resilient, on the back of increased exploration and production activities. We are optimistic that 2023 would be a good year for Deleum barring any unforeseen circumstances, as the Group strives to find new opportunities for growth in our core businesses that will bring value to our shareholders. We are encouraged with the results of the successful awards of new contracts for our solid control business with an estimated aggregate contract value of RM64.0 million from exploration and production clients in recent months. We anticipate this business to grow further in the future as a new growth area for the OS segment.” Rao Abdullah Group Chief Executive Officer, Deleum Berhad

Power and Machinery (P&M) Segment

Revenue from the P&M segment doubled up to RM155.3 million in 2Q23, from RM77.7 million in the prior year. Increased sales value and quantity of exchange engines delivered, sales of turbine parts and repairs, field service representative call out activities, and control and safety valves and flow regulator services - all contributed to an upsurge in revenue. Following that, segment profit soared by 140% to RM17.3 million, up from RM7.2 million in the previous year.

In 1H23, the segment reported revenue and profit before tax of RM253.0 million and RM33.7 million respectively, compared to RM139.4 million and RM13.9 million in the previous year. The better performance was attributed to higher gross profit, foreign exchange gain, and fair value gain on forward foreign currency exchange contracts.

The segment continues to be the Group’s largest revenue contributor in 1H23, accounting for 81% of total group revenue of RM311.5 million.

Oilfield Services (OS) Segment

OS segment revenue declined 9% to RM31.6 million in 2Q23 from RM34.6 million a year ago due to lower business activities in slickline services, gas lift valve services, and asset integrated solutions. Along with lower revenue, segment profit dropped 36% to RM2.2 million, from RM3.5 million previously.

Cumulatively, the OS segment posted a marginal profit before tax of RM3,000 for 1H23, on revenue of RM54.4 million. The decrease in both revenue and profit was caused by reduced revenue reported and lower reversal of impairment on trade receivable.

Integrated Corrosion Solution (ICS) Segment

During 2Q23, ICS segment recorded a lower revenue of RM1.0 million, versus RM14.0 million previously, predominantly due to lower maintenance activities from the alternative blasting and painting business in Indonesia and Maintenance, Construction and Modification projects. This has resulted in the loss of RM1.6 million for the segment.

Subsequently, for 1H23, ICS segment registered a lower revenue and loss before tax of RM3.9 million and RM1.5 million, respectively.

Deleum has maintained a robust balance sheet and continues to achieve healthy sales performance to power its core businesses. As at the end of 2Q23, the Group’s net cash position has further strengthened, with cash and bank balances of RM222.8 million exceeding total borrowings of RM2.8 million, compared to RM178.0 million and RM8.8 million on 31 December 2022 respectively. Shareholders’ equity increased to RM394.5 million as of 30 June 2023, up from RM388.8 million as of 31 December 2022.

The Group’s sturdy orderbook currently stands at RM537.9 million, which consists of works and equipment mostly to be delivered within 12 months.

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About Deleum Bhd

Deleum Berhad is an investment holding company and through its subsidiaries, provides a diverse range of supporting specialised products and services to the oil and gas industry, particularly in the exploration and production sector. Its range of products and services is distinguished according to its three core business segments – Power and Machinery, Oilfield Services and Integrated Corrosion Solutions. Deleum is listed on the Main Market of Bursa Malaysia.

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• Revenue up 20.1% to RM123.4 million, driven by higher sales activities in the Power and Machinery segment
• Power and Machinery segment’s profit before tax jumps 146.8% to RM16.4 million due to higher operating margin

KUALA LUMPUR, 30 MAY 2023 - Leading oil & gas (O&G) services provider Deleum Berhad (“Deleum” or the “Group”), reported a net profit of RM9.1 million in the first quarter ended 31 March 2023 (1Q23), up 12.5% from last year same quarter, largely due to higher revenue and profitability from the Power and Machinery (P&M) segment.

P&M segment revenue increased by 58.2% to RM97.6 million in 1Q23, from RM61.7 million in the corresponding quarter last year, on increased sales activities in the segment. The robust growth in the P&M segment resulted in a 20.1% hike in 1Q23 group revenue to RM123.4 million from RM102.8 million previously.

Power and Machinery (P&M) Segment

The increased revenue from the P&M segment in 1Q23 was due to higher number of exchange engines delivered, retrofit projects, and increased sales activities from the control and safety valves and flow regulator services.

Simultaneously, profit before tax for the segment surged 146.8% to RM16.4 million from RM6.6 million a year ago, setting a new high for the first-quarter performance. This was due to better operating margins, gain on foreign exchange of RM2.8 million, and fair value gain on forward foreign currency exchange contracts of RM1.4 million.

The segment continued to be the largest revenue contributor to the Group, making up 79.1% of the Group revenue of RM123.4 million.

Oilfield Services (OS) Segment

OS segment revenue fell 18.5% in 1Q23 to RM22.8 million from RM28.0 million the previous year, primarily due to lower activities from its slickline services in West Malaysia and gas lift valve contract. The lower business activities from the segment resulted in a loss before tax of RM2.2 million for 1Q23, compared to a profit before tax of RM3.8 million the previous year.

Integrated Corrosion Solution (ICS) Segment

Lower maintenance activity levels in the Sponge-Jet Blasting (SPJ) business in Indonesia and lower contribution from the Maintenance, Construction, and Modification (MCM) projects led to a 77.9% decrease in ICS segment revenue in 1Q23 to RM2.9 million, compared to RM12.9 million previously. In tandem, the segment reported a lower profit before tax of RM0.04 million in 1Q23 from RM1.2 million previously.

“We kicked-off 2023 with vigorous activities in the P&M segment, delivering solid first-quarter results on the top and bottom lines. This robust performance reflects our strong market position in the O&G sector. Looking ahead, we are optimistic that we will be able to maintain our momentum throughout the rest of 2023, given the stablising oil prices, OPEC’s recent cuts in production and the reopening of China's economy post-Covid. We anticipate to benefit from the O & G industry’s optimism in capital expenditure spending.” Rao Abdullah Group Chief Executive Officer, Deleum Berhad.

The Group maintained its net cash position as at end of 1Q23, with an improved cash and bank balances of RM207.7 million exceeding total borrowings of RM6.3 million. The strong balance sheet was attributed largely to better working capital management, coupled with positive operating cashflows of RM47.0 million as a result of the improved profitability and healthy collections during the quarter. As at 31 March 2023, shareholders’ equity largely maintained at RM384.8 million.

To date, Deleum’s orderbook stands positively at RM551.9 million, which consists of works and equipment mostly to be delivered within 12 months.

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About Deleum Bhd

Deleum Berhad is an investment holding company and through its subsidiaries, provides a diverse range of supporting specialised products and services to the oil and gas industry, particularly in the exploration and production sector. Its range of products and services is distinguished according to its three core business segments – Power and Machinery, Oilfield Services and Integrated Corrosion Solutions. Deleum is listed on the Main Market of Bursa Malaysia.

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• The Group will continue to focus on extending its product and service offerings, as well as expanding its geographical footprints
• Seeking to collaborate and partner with technology companies in order to foster technology innovation and maintain a competitive edge
• Deleum to appoint a new chairman, effective 1 June 2023

KUALA LUMPUR, 23 MAY 2023 - Leading oil & gas (O&G) services provider Deleum Berhad (“Deleum” or the “Group”),will focus on growth in both its top and bottom lines, spurred by the projected rise in global capital spending in the O&G sector as a result of robust demand for fossil energy.

To fuel the Group’s next phase of growth, Deleum intends to broaden its product and service offerings, as well as regional presence. Deleum will continue to invest in processes and systems to integrate its services on a seamless and robust platform, increasing the Group’s capacity to meet the needs of its clients.

“We value our core businesses and will continue working with our principals to strengthen our position in the industry. While we seek to grow our current business by expanding on market share through cross- and upselling within our various segments, we need to set sights on our next growth impetuses in order to create sustainable earnings. We are not only extending our product and service offerings but also expanding our geographic footprint, particularly in Indonesia and Thailand. This will allow us to better support and increase our client base in the region as demand grows. We are committed to executing our strategic initiatives and effectively leveraging our competitive advantages in order to continue with our commendable earnings track record.” Rao Abdullah Group Chief Executive Officer, Deleum Berhad

The Group is also on the lookout for technological companies with which to collaborate in order to foster technological innovation in its products and services while maintaining its competitive edge. The potential partnership and collaboration with technology partners dovetail Deleum’s aim to achieve transformative growth this year and in the future. Deleum notched up revenue of RM698.0 million in financial year ended 31 December 2022 (FY2022), an increase of 25.0% from the previous year, which was attributed to encouraging spending in the oil and gas sector. Overall growth was delivered across three segments, Power and Machinery, Oilfield Services, and Integrated Corrosion Solution.

Deleum appoints a new Chairman

At the Annual General Meeting today, Deleum announced that the Company has appointed Tan Sri Dato’ Seri Shamsul Azhar bin Abbas as its Chairman effective 1 June 2023, succeeding Dato’ Izham Bin Mahmud. Dato’ Izham, 82 years old, will continue to remain on Deleum’s Board as Non-Independent Non-Executive Director.

Dato’ Izham was appointed to the Board on 21 December 2005. He is one of the co-founders of Deleum Services Sdn Bhd (Deleum Services), a wholly owned subsidiary of Deleum Berhad. Dato’ Izham joined Deleum Services as its Chairman upon his retirement as Managing Director of Aseambankers Malaysia Berhad in 1996 and was subsequently appointed as the Executive Chairman in 2000.

He served as the Executive Chairman of Deleum Berhad until his retirement on May 31, 2010, after which he became Non-Executive Chairman until present. With his years of experience and valuable skill sets, he has greatly contributed to the Group’s business successes over the last 27 years.

“I have served as Deleum’s Chairman since it was listed in 2007 and I am proud of how the Company has successfully overcome numerous challenges and was able to deliver on its commitment to the stakeholders. I am confident Tan Sri Shamsul Azhar as Chairman of the Board, given his vast experience mainly in oil and gas sector will successfully lead the Company and continue to build momentum towards future growth. I wish him all the best.” Dato’ Izham Bin Mahmud Non-Independent Non-Executive Chairman, Deleum Berhad

Tan Sri Shamsul Azhar joined the Board on 9 June 2022. He has had an illustrious career in the O&G industry having been in the industry for more than 40 years. He has also served on various boards of public listed companies.

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About Deleum Bhd

Deleum Berhad is an investment holding company and through its subsidiaries, provides a diverse range of supporting specialised products and services to the oil and gas industry, particularly in the exploration and production sector. Its range of products and services is distinguished according to its three core business segments – Power and Machinery, Oilfield Services and Integrated Corrosion Solutions. Deleum is listed on the Main Market of Bursa Malaysia.

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• Group pre-tax profit increased by 82.2% to RM24.5million
• Strong performances by Oilfield Services and Integrated Corrosion Solution segments
• Profit attributable to equity holders increased by RM9.4 million or 131.7% to RM16.6 million

KUALA LUMPUR, 23 AUGUST 2022 - Deleum Berhad (“Deleum” or the “Group”), a provider of a diverse range of supporting specialised products and services to the oil and gas industry, recorded a pre-tax profit of RM24.5million for the half year ended 30 June 2022, an increase of 82.2% from the corresponding period.

Group revenue increased marginally to RM229.1 million against the corresponding period mainly contributed by its Oilfield Services and Integrated Corrosion Solution segments but offset by lower revenue from the Power and Machinery segment.

Profit attributable to equity holders increased more than double to RM16.6 million from RM7.2 million previously. This was attributable to the better operating performance by the Oilfield Services segment on account of improvement in operating margins, reversal of impairment made for a trade receivable of RM2.6 million and a gain recorded on disposal of its plant and equipment of RM1.6 million. The increase in group profit is also due to the better results achieved by the Integrated Corrosion Solutions segment with higher revenue and lower operating expenses reported.

The Group’s cash and bank balances has further strengthened to RM203.7 million with positive cash inflow generated from its operating activities and investing activities respectively for the financial period ended 30 June 2022. The increase in cash flow was partially offset by repayment of bank borrowings of RM14.2 million and dividend payment of RM7.1 million made to its shareholders and non-controlling interests.

Segmental Review

Oilfield Services (“OS”)

The OS segment recorded a pre-tax profit of RM7.2 million for the current half-year compared with a loss of RM0.3 million previously. This improvement came on the back of higher revenue of RM62.6 million (RM54.0 million in previous corresponding half year). The second quarter saw higher activities from its slickline services in East and West Malaysia regions, well intervention and enhancement services, chemical sales, and spill over jobs from the gas lift valve contract which contributed to this higher revenue.

Integrated Corrosion Solution (“ICS”)

Higher maintenance activity levels for its Sponge-Jet Blasting (“SPJ”) business in Indonesia and the Maintenance, Construction and Modification services (“MCM”) project contributed to the 41.7% increase in revenue to RM26.9 million for the ICS segment in the cumulative two quarters. The higher revenue achieved coupled with lower operating expenses have turnaround the segment results from a loss of RM3.5 million in corresponding period to a strong pre-tax profit of RM2.4 million.

Power and Machinery (“P&M”)

Revenue in the P&M segment fell by 10.5% to RM139.4 million. Pre-tax profit was also lower at RM13.9 million, a dip of 19.4% from RM17.2 million previously. The performance of this segment was affected by lower contribution from the valves and flow regulators services and third-party sales, but partially mitigated by the favourable movement in foreign currency contract differences with a lower net loss as compared to previous year.

Prospects

Deleum opined that the oil and gas industry is expected to remain volatile on the uptrend due to supply chain and markets challenges in Europe and Asia as a consequence of the Russia/Ukraine conflict. While prices were settling down compared to the first quarter, activity levels are still expected to remain healthy, and the industry services sector is expected to benefit from this.

The Group will continue with its focus on delivering its services in accordance with its plans and strategy. Inflation will be of concern, and Deleum will be mindful with resource management while seeking to expand the new product line acquired in the first quarter, and retaining talent in the organisation. 

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About Deleum Bhd

Deleum Berhad is an investment holding company and through its subsidiaries, provides a diverse range of supporting specialised products and services to the oil and gas industry, particularly in the exploration and production sector. Its range of products and services is distinguished according to its three core business segments – Power and Machinery, Oilfield Services and Integrated Corrosion Solutions. Deleum is listed on the Main Market of Bursa Malaysia.

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• Group profit attributable to shareholders increased to RM8.1 million
• Group revenue improved to RM102.8 million
• Improved performance by Oilfield Services and Integrated Corrosion Solutions segments contributed to a stronger overall Group performance

KUALA LUMPUR, 27 MAY 2022 - Deleum Berhad (“Deleum” or the “Group”), a provider of a diverse range of supporting specialised products and services to the oil and gas industry, posted a 45 per cent increase in group profits to RM8.1 million in the first quarter (“Q1”) for financial year ending 31 December 2022 (“FY2022”).

The increase in profit attributable to shareholders to RM8.1 million from RM5.6 million in the corresponding quarter of financial year ended 31 December 2021 (“FY2021”), was achieved on the back of higher Q1 FY2022 revenue of RM102.8 million, an 8.5 per cent improvement from Q1 FY2021 due to higher revenue reported across all business segments.

Stronger performances by its Oilfield Services and Integrated Corrosion Solution segments contributed to the better financial performance as a result of higher sales activities and job deliveries during the quarter. This, however, was offset by a slightly reduced performance from the Power and Machinery segment.

The Group’s cash and bank balances in Q1 FY2022 is higher at RM199.6 million compared to RM192.7 million as at 31 December 2021 as the operating and investing activities respectively generated positive cash inflow of RM14.8 million and RM5.4 million in Q1 FY2022.However, during the quarter, the Group’s bank borrowings reduced from RM30.3 million to RM23.1 million and dividend payments of RM6.3 million were made to shareholders and non-controlling interests.

Segmental Review

Power and Machinery (“P&M”)

Revenue increased by 5.5 per cent to RM61.7 million in Q1 FY2022 due to higher business activities recorded in the gas turbine after sales business. However, pre-tax profit in the P&M segment reduced by 11.8 per cent to RM6.6 million in Q1 FY2022 from RM7.5 million due to higher operating costs.

Oilfield Services (“OS”)

The OS segment revenue in Q1 FY2022 remained stable with higher activities recorded by its gas lift valve services, slickline services in West Malaysia region and chemical sales which was however offset by the reduced slickline services activities in the East Malaysia region and the well intervention and enhancement services unit.

Pre-tax profit improved significantly to RM3.8 million in Q1 FY2022 from RM0.6 million in Q1 FY2021 partly due to the reversal of an impairment made for trade receivable amounting to RM2.1 million.

Integrated Corrosion Solution (“ICS”)

Revenue in the ICS segment was up by 58 per cent to RM12.9 million in Q1 FY2022 compared to RM8.2 million in Q1 FY2021 with better job deliveries and higher maintenance activity levels for both its Sponge-Jet Blasting business in Indonesia as well as the Maintenance, Construction and Modification services project in Malaysia.

On the back of the higher increase in revenue, Q1 FY2022 pre-tax profit improved 6-fold to RM1.2 million from RM0.2 million in the corresponding quarter. This is also attributable to the various cost savings initiatives undertaken to reduce its operating costs.

Prospects

Business activities are expected to pick up following its transition into the endemic phase as the country eases restrictions and opens borders. Higher commodity price is also expected to spur business activities in the Oil and Gas sector as the Oil and Gas operators resume their spending.

Against this backdrop, the Group expects to see stability in its performance and will continue to focus on growth by exploring new markets, investing in new product lines and geographical expansion, pursuing opportunities in both the upstream and downstream sectors. The Group will also keep track of cost management in an increasingly inflationary environment. 

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About Deleum Bhd

Deleum Berhad is an investment holding company and through its subsidiaries, provides a diverse range of supporting specialised products and services to the oil and gas industry, particularly in the exploration and production sector. Its range of products and services is distinguished according to its three core business segments – Power and Machinery, Oilfield Services and Integrated Corrosion Solutions. Deleum is listed on the Main Market of Bursa Malaysia.

KUALA LUMPUR, 29 NOVEMBER 2021 - Deleum Berhad’s (“Deleum” or the “Group”), a provider of a diverse range of supporting specialised products and services to the oil and gas industry, reported a pre-tax profit of RM14.7 million in the nine months ended 30 September 2021 (“9MFY2021”), a marginal decline from nine months ended 30 Septembers 2020’s (“9MFY2020”) RM14.9 million.

The 9MFY2021’s result was commendable despite recording a lower revenue of RM366.5 million compared to last year’s corresponding period of RM432.2 million. Improvement in results in 9MFY2021 compared to 9MFY2020 was supported by better operating performance recorded from the Oilfield Services (“OS”) segment and the absence of impairment charges.

Turnover for the quarter ended 30 September 2021 (“Q3FY2021”) fell by 4.5% year-on-year (“YoY”) to RM137.5 million against the quarter ended 30 September 2020’s (“Q3FY2020”) RM144.0 million due to the decline in business activities reported by its OS and Integrated Corrosion Solution (“ICS”) segments. Q3FY2021’s pre-tax profit fell 94.4% compared to Q3FY2020 due to weaker operating performance across all business units.

The Group’s total cash position including investment securities remained healthy at RM202.2 million as at 30 September 2021. Gearing ratio was low at 0.1 times at the end of the period under review.

Segmental Review

Power and Machinery (P&M)

The P&M segment turned in better performance in Q3FY2021 with an 18.6% increase in revenue to RM97.5 million as a result of improved overall sales activities when compared to Q3FY2020. However, unfavourable change in sales mix with downward pressure on margins caused pre-tax profit to be 49.8% lower at RM7.4 million.

However, the segment’s 9MFY2021 revenue decreased by 4.4% to RM253.2 million against last year’s corresponding period of RM264.8 million. Unfavourable change in sales mix and pressure on profit margins impacted pre-tax profit, falling 27.7% to RM24.6 million.

Oilfield Services (“OS”)

The segment ended Q3FY2021 with lower revenue of RM21.3 million and a pre-tax loss of RM7.4 million compared to last year’s corresponding period due to lower slickline, well intervention and enhancement and gas lift valve services and chemical sales. This segment was also impacted by provisions made on its slow-moving stocks.

The segment’s revenue decreased by 8.6% to RM75.2 million in 9MFY2021 compared to 9MFY2020 of RM82.3 million. It reported a pre-tax loss of RM7.7 million -caused by higher provisions and write-offs made on its stocks.

Integrated Corrosion Solution (“ICS”)

The ICS segment revenue fell 39.6% YoY to RM18.6 million in Q3FY2021, incurring a loss of RM0.4 million in line with the fall in revenue. Lower contract orders and job deliveries due to the slowdown in maintenance activity levels contributed to the lower revenue and profit of the said quarter.

Its 9MFY2021 revenue declined by 55.6% to RM37.6 million from RM84.8 million in 9MFY2020 following the lower maintenance services activity performed for both its Maintenance, Construction & Modification (“MCM”) and local Sponge-Jet operations.

Prospects

Looking forward, businesses activities are expected to pick up in the upcoming quarters as travel restrictions and quarantine requirements ease, on top of the forecasted sustainability of the high crude oil price level in the industry. The Group will continue to focus on fulfilling orders that were affected by the movement restriction control imposed by the government as well as securing new orders and jobs.

KUALA LUMPUR, 24 AUGUST 2021 - Deleum Berhad’s (“Deleum” or the “Group”), a provider of a diverse range of supporting specialised products and services to the oil and gas industry, posted improved half-year results, turning around to record a profit of RM7.2 million against a loss of RM9.0 million recorded in the corresponding period.

The stronger financial performance for the 6-month period ended 30 June 2021 was despite a 20.3 per cent lower revenue of RM231.1 million as compared to RM290.0 million of the corresponding period. The lower revenue was on the account of depressed revenue recorded by the Power and Machinery (P&M) and Integrated Corrosion Solution (ICS) segments.

The Group’s profits attributable to equity holders of the Company swung back to a profit due to stronger operating margins recorded on the back of a positive change in sales mix of products and services, lower write-offs made on inventories and other receivables from the Oilfield Services segment, favourable movement in foreign exchange differences as well as non-occurrence of the one-off impairment charges on the slickline operating assets and a corporate long-term other receivable of RM10.6 million and RM1.7 million respectively reported in the corresponding period last year.

Revenue of the P&M segment decreased by 14.4% to RM157.9 million and profit before tax fell by 10.1 per cent to RM16.0 million as a result of weaker sales on turbines parts and valves and flow regulator services. However, the favourable movement in Ringgit against US Dollar chalked up a net gain of RM1.2 million (loss of RM1.8 million in the corresponding period), partially cushioning the effect of the weaker sales.

For the Oilfield Services (OS) segment, revenue increased by 4.9% to RM54.0 million and segment results too improved with a lower loss of RM328,000 (loss of RM20.3 million in the corresponding period). This was due to the improved revenue recorded following higher slickline asset utilisation. The lower loss during the period under review was in line with the higher revenue, improved operating margins, absence of inventory write-offs as well as lower impairment made on its trade receivables and contract assets. The corresponding half year segment results were adversely impacted by the non-recurring impairment charge made on its slickline operating assets of RM10.6 million.

Revenue for the ICS segment declined 64.8 per cent to RM19.0 million with lower activity levels in maintenance services for both of its Maintenance, Construction and Modification and local Sponge-Jet Blasting operations. Higher operating margins coupled with lower overhead expenses cushioned the set back of decline in revenue for the segment to incur a lower loss before tax at RM3.5 million compared to RM5.6 million previously.

Deleum Group predominantly operates in the Malaysian market. With the higher vaccination rate, it expects less encumbrances in the quarantine requirements for the offshore crew. This will improve the utilisation of the Group’s manpower and equipment. The current oil price level may also bring positive impact to the Group. Even though the December monsoon season may result in potential decrease in activities, Deleum is cautiously optimistic in its operating performance for the remainder of the year.

Ramanrao Abdullah

Group Chief Executive Officer

Ramanrao bin Abdullah (Malaysian, aged 61, Male) was appointed as Group Chief Executive Officer of Deleum on 1 July 2021 and appointed as Director to the Board on 8 July 2021.

He holds a Bachelor of Accounting from University of Malaya and a Master in Business Administration from University of Leicester, United Kingdom. He is a member of the Institute of Chartered Accountants in England and Wales (ICAEW).

Mr Ramanrao has built a career in the oil and gas industry spanning more than 26 years, all of which have been with Halliburton. His various roles in the company included those in the Finance, Business Development and Operation workstreams before assuming the position of Chief Executive Officer of Halliburton Asia Pacific in 2014.  Following this, he was appointed to a newly created role as Vice President of Business Development for Asia Pacific and Asian National Oil Companies for their Global Operations in 2018.

Prior to his career in the energy sector, he was a practicing accountant in an audit firm in Bath, England for six years. 

A leading figure in the industry, Mr Ramanrao  previously served on the Research Advisory Council (RAC) of Universiti Teknologi PETRONAS (UTP) and continues his association with the university as an Adjunct Lecturer since 2019. He previously also served as a member of the Advisory Council for Society of Petroleum Engineers (SPE) Asia Pacific.

Mr Ramanrao also currently serves as a Council Member of Malaysian Gas Association (MGA), an Executive Committee Member of the International Petroleum  Technology Conference (IPTC) 2025 and an Advisory Committee Member for Offshore Technology Conference (OTC) Asia 2024.

Mr Ramanrao’s extensive experience in both the corporate and regulatory framework of the oil and gas industry, not just in Malaysia and regionally but also globally, as well as his training as a chartered accountant, has equipped him with a comprehensive range of diverse competencies relevant to this sector.

Other than the Company, he is not a Director of any other public company or listed issuer.
 

Ramanrao Abdullah

Group Chief Executive Officer

NATIONALITY / AGE /GENDER
Malaysian / 61/ Male

DATE OF APPOINTMENT
1 July 2021

ACADEMIC / PROFESSIONAL QUALIFICATIONS

• Master in Business Administration, University of Leicester, United Kingdom
• Members of Institute of Chartered Accountants in England and Wales (ICAEW)
• Bachelor of Accounting, University of Malaya, Malaysia

WORKING EXPERIENCE

He joined Deleum Berhad on 1 July 2021 as Group Chief Executive Officer.

He has built a career in the oil and gas industry spanning more than 25 years, all of which have been with Halliburton. His various roles in the company included those in the Finance, Business Development and Operation workstreams before assuming the position of Chief Executive Officer of Halliburton Asia Pacific in 2014. Following this, he was appointed to a newly created role as Vice President of Business Development for Asia Pacific and Asian National Oil Companies for their Global Operations in 2018.

Prior to his career in the energy sector, he was a practicing accountant in an audit firm in Bath, England for six years.

A leading figure in the industry, he previously served on the Advisory Council of Universiti Teknologi PETRONAS (UTP) and continues his association with the university as an adjunct lecturer since 2019. He is also a member of the Advisory Council for SPE (Society of Petroleum Engineers) Asia Pacific. He currently serves as a Council Member of Malaysian Gas Association (MGA), an Executive Committee Member of the International Petroleum  Technology Conference (IPTC) 2025 and an Advisory Committee Member for Offshore Technology Conference (OTC) Asia 2024.

His extensive experience in both the corporate and regulatory framework of the oil and gas industry, not just in Malaysia and regionally but also globally, as well as his training as a chartered accountant, has equipped him with a comprehensive range of diverse competencies relevant to this sector.

PRESENT DIRECTORSHIP

(i) Listed Entity: Nil
(ii) Other Public Companies: Nil