Deleum unit incorporates Thai subsidiary to provide software, oilfield and chemical services

TheEdge Wed, Jun 22, 2022 05:04pm - 1 year View Original


KUALA LUMPUR (June 22): Deleum Bhd’s wholly-owned subsidiary Deleum Services Sdn Bhd (DSSB) has incorporated a Thailand-based subsidiary to provide software, oilfield and chemical services in Thailand.

In a filing on Wednesday (June 22), the upstream oil and gas firm said DSSB on Tuesday (June 21) incorporated Deleum Oilfield Solutions (Thailand) Co Ltd (DOST) under the laws of Thailand.

Deleum noted that DOST was incorporated with a registered capital of 1 million Thai baht (about RM124,800) comprising 200,000 shares, and an initial paid-up capital of 250,000 Thai baht (about RM31,200).

“The incorporation of DOST is mainly to facilitate the expansion of the business activities of DSSB and Deleum’s group of companies in the region,” it added.

In a statement, Deleum group chief executive officer Ramanrao Rao Abdullah said the incorporation of DOST is part of the group’s growth strategies.

He added that the group is confident of expanding its footprint in the region by leveraging its years of experience.

“Shareholders of the new entity are listed as DSSB (48%), Ramanrao (1%), Suthee Chivaphongse (50%) and Owan Suzan Bettenhausen (1%), while its board of directors are identified as Ramanrao, Imran Hakim Abdul Aziz and Suthee.

“Ramanrao is holding the shares on behalf of DSSB to satisfy the local legal requirements for three individual shareholders as promoters of DOST,” Deleum said.

At 4.20pm, Deleum was up half a sen or 0.92% to 55 sen, giving the group a market capitalisation of RM222.83 million.

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