DELEUM BERHAD UNISON IN DIVERSITY - ChartNexus
DELEUM BERHAD UNISON IN DIVERSITY - ChartNexus
DELEUM BERHAD UNISON IN DIVERSITY - ChartNexus
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Business Performance Review<br />
In line with our mission<br />
of being The Preferred<br />
Service Company, the<br />
Group has embarked<br />
on a competency<br />
assessment programme<br />
to identify, certify and<br />
enhance the technical<br />
competency of oilfield<br />
personnel.<br />
Installation of Pressure Control Lubricator<br />
Deleum Berhad Annual Report 2009 19<br />
The Group continued to register growth in 2009, contributed mainly by the<br />
specialised equipment and services segment and oilfield equipment and services<br />
segment.<br />
The Group recorded a revenue of RM514 million for the financial year 2009,<br />
a 21% increase compared to RM425 million in the previous year. In line with<br />
the increase, the Group achieved a 24% increase in profit before tax of RM46<br />
million compared to RM37 million in 2008. The profit after tax and minority<br />
interest increased by 14% from RM23.3 million in 2008 to RM26.5 million.<br />
SPECIALISED EQUIPMENT AND SERVICES<br />
This business segment involves the provision of subsea production systems,<br />
umbilicals, gas turbine packages, control safety valves repairs and related<br />
services.<br />
The revenue in this segment recorded an increase of 13% from RM203 million<br />
in 2008 to RM230 million in 2009. The increase was attributed to the award<br />
of several new contracts and contribution of a full year’s results from Penaga<br />
Dresser Sdn. Bhd., a subsidiary acquired in August 2008.<br />
The Group started the year with a significant award for the supply of gas turbines<br />
for a national gas pipeline project in East Malaysia. The Group foresees good<br />
potential in this segment as many of the deferred projects are expected to come<br />
on stream in the near future.<br />
On the industrial power generation section, the Group was successful in<br />
securing another gas turbine generator package turnkey order. We anticipate<br />
good potential in this section and further projects as customers begin to realise<br />
the potential cost savings and energy efficiency from the Combined Heat and<br />
Power technology.<br />
Penaga Dresser Sdn. Bhd. which is involved in the control safety valves repairs<br />
and related services also contributed to the increase in revenue for this segment.<br />
This was a result of the increased activities in Maintenance, Repair and Overhaul<br />
services as well as orders for new equipment awarded during the year.
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