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RM439m revenue in the first six months post-listing, that's a substantial scale operation generating consistent EBITDA. The cash flow from fuel distribution funds the marine bunkering expansion capex without dilution. Capital-efficient business model.
Post-IPO cash position RM138.6m gives PSP significant firepower to scale marine bunkering ops without resorting to equity dilution or expensive debt. In capital-intensive energy infrastructure businesses, balance sheet strength is a real competitive advantage. Allows for organic capex on storage tanks, barges, terminals. Strong base, ready to scale.
The marine bunkering business is where the real upside sits. Tanjung Bruas Port marine fuel hub targeting first half 2026 operations, this is huge because the Strait of Melaka sees ~80,000+ vessel transits per year.
Bunker fuel demand for that vessel traffic is structural. PSP being early mover in this segment captures customer relationships before competitors scale. Plus IMO 2030 lower-sulphur fuel regulations mean premium pricing for compliant bunker fuel. The marine segment could become the bigger profit center vs traditional fuel distribution.
First six months post-listing revenue at RM439 million. The exciting growth angle: setting up a marine fuel bunkering hub at Tanjung Bruas Port in Melaka, targeting operations in first half of 2026.
