KUALA LUMPUR (May 23): Oil and gas (O&G) service provider Deleum Bhd has appointed Tan Sri Shamsul Azhar Abbas, who was president and chief executive officer (CEO) of Petroliam Nasional Bhd from 2010 to 2015, as its chairman effective June 1, succeeding Datuk Izham Mahmud.
Shamsul Azhar joined Deleum’s board of directors in June last year, bringing with him more than 40 years in the O&G industry.
In a statement on Tuesday (May 23), Deleum said Izham, 82, will continue to remain on Deleum’s board as non-independent non-executive director.
It said Izham, one of the co-founders of Deleum Services Sdn Bhd, a wholly owned subsidiary of Deleum, was appointed to the board on Dec 21, 2005. Izham joined Deleum Services as its chairman upon his retirement as managing director of Aseambankers Malaysia Bhd in 1996 and was subsequently appointed as the executive chairman in 2000.
Meanwhile, Deleum group CEO Ramanrao Abdullah said 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.
He added that to fuel the group’s next phase of growth, Deleum intends to broaden its product and service offerings, as well as regional presence.
Ramanrao said 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. It will also continue working with its principals to strengthen its position in the industry.
“While we seek to grow our current business by expanding on market share through cross- and up-selling 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,” he noted.
At the time of writing, Deleum shares were down 0.55% or 0.5 sen at 91 sen, with 16,500 shares traded. Its market capitalisation stood at RM363.43 million.
