Asian Energy Services Limited — Updates, 18-04-2025: Press Release

Asian Energy Services Limited has acquired a 100% stake in Kuiper Group, UAE, for US$ 9.25 million in an all-cash transaction. The acquisition, expected to close in two months, is financed through internal accruals and debt. Kuiper Group, which reported revenues of approximately US$ 68 million in 2024, specializes in manpower solutions for the energy sector across the Middle East and Southeast Asia. This strategic initiative allows Asian Energy to enhance its integrated operations and maintenance (O&M) services, capitalizing on Kuiper’s established presence in key markets such as Saudi Arabia, Qatar, and the UAE. The acquisition is a significant step toward expanding Asian Energy's footprint in global energy projects and supporting long-term growth. This development is poised to open new revenue opportunities, and investors should monitor the integration process closely for its impact on operational expansion and revenue generation.