Deleum group CEO emerges as largest shareholder with 20.36% stake

KUALA LUMPUR (April 6): Deleum Bhd’s group chief executive Ramanrao Abdullah has emerged as a substantial shareholder in the oil and gas services group with a 20.36% indirect stake or 81.74 million shares.

Ramanrao’s deemed interest in Deleum follows the acquisition of shares by Integrity Strategic Sdn Bhd in Lantas Mutiara Sdn Bhd, which held the 20.36% stake.

Deleum stated that Integrity Strategic is a corporate body controlled by Ramanrao’s children, Reshad and Zoena Ramanrao.

Integrity Strategic bought shares in Lantas Mutiara from Deleum chairman Datuk Izham Mahmud, who is left with 14.13% indirect and 2.79% direct stake in the company.

Deleum indicated in the Bursa announcement that Izham’s remaining indirect interest is via shareholding in IM Holdings Sdn Bhd and by virtue of shares held by his spouse.

In the financial year ended Dec 31, 2022 (FY2022), Deleum net profit rose 146.9% to a seven-year high of RM42.14 million or 10.5 sen per share, from RM17.07 million or 4.25 sen per share.

Revenue rose 22.35% to RM685.81 million from RM560.52 million.

The group paid dividends of 5.25 sen per share for FY22, also its highest in seven years since FY15’s 5.5 sen per share.

On Thursday, Deleum’s share price closed unchanged at 93.5 sen, valuing the group at RM373.43 million.