KUALA LUMPUR (May 14): Deleum Bhd is looking at a gradual expansion into overseas markets to mitigate the oilfield services provider's geographical risk.

Deleum group managing director Nan Yusri Nan Rahimy said the group is looking at setting up operations in Indonesia, Brunei, the United Arab Emirates, Saudi Arabia and Oman to raise Deleum's overseas revenue contribution to a high single-digit percentage of total group top line from some 1% now.

"We are looking at international presence, because we need to mitigate our risk. At the current moment, we are domestically concentrated," Nan Yusri told reporters after Deleum's annual general meeting here today.

He said the group is not stretching itself as the company, which also offers integrated corrosion solutions, is taking a "one-step-at-a-time approach".

Nan Yusri said Deleum is looking at providing abroad its oilfield services and integrated corrosion solutions. He, however, said Deleum's power and machinery segment will not be involved internationally as it is a domestically focused business.

Nan Yusri said that initially, Deleum's overseas revenue contribution will be very small, as it takes time to establish a presence in foreign markets the group is looking to penetrate.

He said that within the next three years, the group expects a high single-digit percentage revenue contribution. "At the current moment it is only 1%, so we want to build up on that," he said.