Future Plans for Growth:

  • Expand Bunkering Services through the Acquisition of an Additional Bunker Vessel

The Group’s ship-to-ship bunkering operations are currently carried out through three bunker vessels, namely PSP Grace, PSP Glory, and PSP Golden. Revenue from the Group’s bunkering business has grown significantly over the Financial Years Under Review, increasing from RM106.1 million in FYE 2022 to RM180.0 million in FYE 2024, reflecting a compound annual growth rate (CAGR) of 30.3%.

In line with this growth trajectory, the Group intends to further expand its bunkering business through the acquisition of an additional bunker vessel, which will effectively enhance its bunkering capacity. The Group plans to allocate RM15.0 million of its IPO proceeds for this expansion initiative.

  • Expand Storage Capacity to Grow the Group’s Fuel Distribution Business Regionally

The Group also intends to expand its customer base and regional market reach by establishing an additional storage facility in Melaka. As part of this initiative, the Group entered into a tenancy agreement on 25 February 2025 with Tanjung Bruas Port Sdn Bhd to lease a parcel of industrial land located at Lot 2562, Mukim Tanjung Kling, Daerah Melaka Tengah, Melaka (“Tanjung Bruas Port Land”), measuring approximately 87,120 sq ft in total land area, for a tenancy period of three years commencing from the date of the tenancy agreement (“Tenancy”).

To support this expansion, the Group intends to allocate RM12.0 million of its IPO proceeds for the purchase of fuel products.

  • Grow Lubricants Business through Regional Expansion

The Group plans to extend its lubricants business to the east coast region of Peninsular Malaysia to tap into the growing demand in Pahang, Terengganu, and Kelantan. This expansion will enable the Group to establish a new customer base and strengthen its market presence in the region.

As part of this strategy, the Group intends to set up a branch office and warehouse in Pahang, which will facilitate local distribution and enhance brand visibility for the Group’s range of lubricant products. The initial capital outlay for this expansion will be funded through internally generated funds.