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Overseas Venture Back On The Cards For Deleum
23 mins·08:05, 11 Dec 2017
Overseas Venture Back On The Cards For Deleum
23 mins
·
08:05, 11 Dec 2017
·
Recommended
43 mins
2018 will be the year Deleum re-engages back its plans to venture overseas, says Group Managing Director Nan Yusri Nan Rahimy.
The group stopped its plans to venture out of Malaysia in 2014 because of the drop in oil prices.
Nan says Deleum was in the process of assessing its positioning in other countries but it had to be put on hold in 2014 because of the drop in oil prices.
"We believe that after 3 years, the new norm is here to stay.. the lower for longer environment (for oil prices) is here. We have come to terms with the new norm.. 2018 will be an area where we would like to re-engage in that process of looking into this expansion," Nan tells BFM Morning Run in an interview.
He also shares that they are always seeking and looking for M&A opportunities.
"In the oil and gas industry, size does matter," he points out.
Deleum’s history can be traced back to the early 1980s. It was listed 10 years ago and has grown to become a niche oil and gas provider in the country with three core business segments-- power and machinery, oilfield services as well as integrated corrosion solutions.
Nan also shares Deleum's expansion plans and strategies as well as the earnings visibility moving forward.
Presenter: Joyce Goh
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