MALAYSIA —Ocean Vantage Holdings Berhad has executed heads of agreement to secure the full equity interest in Deleum Technology Solutions Sdn. Bhd. through a combined cash outlay of RM15 million. The transaction involves purchasing an 86.67% stake from Deleum Services Sdn. Bhd. and Delcom Holdings Sdn. Bhd. for RM13 million, alongside the remaining 13.33% stake from minority shareholder Halmi bin Khalid for RM2 million. Both preliminary agreements are inter-conditional, meaning full consolidation depends on the successful execution of both transactions.
Deleum Technology Solutions Sdn. Bhd., incorporated in Malaysia in 2011, specializes in integrated corrosion and inspection services, specialized blasting technology, and maintenance, construction, and modification activities for industrial vessels, storage tanks, and piping networks. Ocean Vantage Holdings Berhad operates as an investment holding company offering engineering, procurement, construction, and commissioning services, primarily supporting the upstream and downstream energy sector.
The proposed transaction establishes a strategic foundation for corporate expansion by combining complementary technical capabilities and client portfolios within the drilling rig segment. By acquiring full control of the target company, the corporate group seeks to minimize operational learning curves, optimize resource allocation, and leverage established service contracts to strengthen ongoing revenue visibility.
This corporate consolidation reflects a broader market trend toward service diversification and operational consolidation among energy support contractors navigating fluctuating commodity cycles. Strengthening localized technical depth allows mid-tier engineering service providers to capture higher-margin maintenance mandates from major energy operators without relying entirely on volatile greenfield capital expenditure cycles.
Finalization of the acquisition remains subject to customary completion milestones, including financial and legal due diligence, the execution of definitive share sale agreements within stipulated deadlines, and approvals from relevant corporate stakeholders and external financiers.
