TMD Energy Ltd (TMDE) News & EventsTMDENews & EventsTMD Energy Ltd

TMD Energy Board Changes, Kwok On Tse Appointed Independent Director

TMD Energy, together with its subsidiaries, announced changes to its board of directors. The Board announces that, on February 16, 2026, Shin Yick Fabian resigned as an independent Director. Upon his resignation, Shin Yick Fabian ceased to serve as chairman of the nominating and corporate governance committee of the Board and as a member of each of the audit committee of the Board and the compensation committee of the Board. Shin Yick Fabian's resignation was due to personal reasons and was not the result of any disagreement with the Company or any matter relating to the Company's operations, policies, procedures or practices. To fill the vacancy created by Shin Yick Fabian's resignation, the Board appointed Kwok On Tse as an independent Director on February 16, 2026.

TMD Energy Announces $276.3M Revenue for 6M25, a 22.7% Decrease Compared to Last Year

Group revenue was $276.3 million for the 6M2025, down 22.7% as bunkering volumes fell 11.2% compared to six months ended June 30, 2024 as the global economy and shipping industry faces significant challenges arising from the tariff crisis and its uncertainties. Gross profit was $4.0 million, with gross profit margin at 1.4% for 6M2025, compared to 1.6% in 6M2024. Net loss was $4.5 million for the 6M2025, compared to net income of $1.1 million during 6M2024. Dato' Sri Kam Choy Ho, Director and CEO commented, "In 6M2025 we delivered a revenue of $276.3 million, down about 22.7% as bunkering volumes eased by over 11.2% despite the significant challenges of the tariff and geopolitical crisis. Gross margin narrowed amid rising operating costs, while tight control of marketing expenditure and a marginal increase in administrative expenses enhance operational efficiency. Foreign currency exchange loss and higher finance charges mainly contributed a net loss for the period. The loss for the period was as a result of a combination of factors from climate change and global economic uncertainties, such as the tariff crisis, global trade war, geopolitical tension and continued volatility in global oil prices. These caused major disruptions in shipping schedules and general slowdown in the shipping industry, which led to significant reduced demand for bunkering services. Looking ahead, we aim to optimize fleet deployment, to look into possibility of expanding our portfolio of high-margin ship-management contracts and accelerate cost efficiencies through digital tools and automation. We are also evaluating a prudent FX-hedging program and advancing our sustainability decarbonization roadmap, including the transition to lower-carbon marine fuels and bioenergy segment."

TMD Energy enters into MOA with Double Corporate

TMD Energy, together with its subsidiaries is a Malaysia and Singapore based services provider engaged in integrated bunkering services announced the Company has entered into a Memorandum of Agreement, or MOA, with bioenergy firm Double Corporate to explore a strategic collaboration for the EU and Asia market. The MOA initiates exclusive good-faith negotiations to formalize partnerships in bioenergy sustainable fuel solutions and operational integration. Double Corporate is a ISCC-EU certified Malaysian-based bioenergy company specializing in waste-based bioenergy and it involves converting waste into high-yield sustainable fuels and lubricants using proprietary, ISCC-EU-approved technology. Double Corporate brings to the table a decade-long expertise in producing high-yield, low-emission biofuels suitable for applications in the sustainable aviation fuel and sustainable marine fuel markets, particularly in Europe and Asia. The MOA establishes the parties' intention to enter into mutual discussions to collaborate and participate in the business in Malaysia and globally with a one-year exclusivity period for negotiations, extendable by mutual consent. Both parties will prioritize finalizing definitive agreements within the exclusivity window.