Defiance ETFs Announces Resumption of Trading in the Defiance Daily 2X Space ETF (SPCL) on Cboe BZX Exchange, Inc.

 

MIAMI, June 16 (Bernama-GLOBE NEWSWIRE) -- Defiance ETFs, a leader in thematic and leveraged exchange-traded funds, today announced that Cboe BZX Exchange, Inc. (the “Exchange”) has authorized the resumption of trading in shares of the Defiance Daily 2X Space ETF (Cboe BZX: SPCL), following the temporary trading halt initiated by the Exchange on June 12, 2026.

The temporary halt was the result of the Exchange exercising its broad discretionary authority to halt trading in a listed ETF, as authorized by Exchange rules. The Exchange has now exercised that same authority to lift the halt and permit trading in SPCL shares to resume.

Upon resumption, shares of SPCL may again be bought and sold on the secondary market during regular market hours. Throughout the temporary halt, the underlying portfolio assets remained secure and were not impacted by the halt of trading initiated by the Exchange.

For real-time updates on the status of SPCL, please monitor the Exchange’s Issuer Portal (SPCL) or contact your financial advisor.

For full fund details, the prospectus, holdings, and performance current to the most recent month-end, visit defianceetfs.com/spcl or call 833.333.9383.

An investment in SPCL is not a direct investment in the underlying securities. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the performance of the Target Portfolio and is designed strictly for short-term use. For periods longer than a single day, the Fund’s performance will be the result of compounded daily returns, which is very likely to differ from 200% of the return of the Target Portfolio over the same period. It is possible that investors could lose their entire principal within a single trading day.

Important Disclosures

Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments LLC (“Tidal” or the “Adviser”).

The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information and can be obtained by calling 833.333.9383 or by visiting defianceetfs.com/spcl. Please read the prospectus and summary prospectus carefully before investing.

An investment in the Fund involves a high degree of risk. An investor could lose the full principal value of his or her investment within a single day.

Strategy and Reconstitution Risk. The Fund is actively managed and, per its recently amended Prospectus, may reconstitute its portfolio to consist of exposure to a single Space Company security in response to a “Material Space Event” – defined to include an initial public offering of a company, such as SpaceX, which the Adviser determines to be a significant participant in the space economy. SpaceX’s IPO, a Material Space Event, will result in the Fund holding all or a predominant portion of its portfolio in instruments providing exposure to SpaceX shares, subjecting existing and future Shareholders to a substantially more concentrated and potentially more volatile investment portfolio due to such an event. Fund investment results following a reconstitution in response to a Material Space Event may differ materially from prior results and the Fund may as a result temporarily deviate from its daily targeted exposure level. The Fund’s prospectus does not require the Adviser to provide advance notice before a reconstitution; however, the Fund’s Target Portfolio is published daily on its website at www.defianceetfs.com/spcl.

An investment in the Fund is not an investment in SpaceX. The Fund seeks to obtain exposure to SpaceX Class A common stock, and to other Space Company securities, through derivatives, not by holding the underlying securities directly. Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Focused Portfolio and Concentration Risk. The Fund may seek exposure to one or a limited number of Space Company securities, including SpaceX. Given the Fund’s exposure is concentrated in a one or a limited number of underlying stocks, such as SpaceX, the Fund is subject to the price movements, business results, regulatory developments, and other risks specific to SpaceX or other Space Companies. The Fund is significantly less diversified than traditional ETFs, and its performance is more volatile than a fund seeking exposure to a broader market sector or seeking to track a broad-based securities index.

Leverage, Compounding and Daily Reset Risk. The Fund seeks daily investment results equal to 200% of the daily performance of a Target Portfolio consisting of one or a limited number of Space Company securities, which may include or consistent entirely of SpaceX Class A common stock due to the Material Space Event. The Fund obtains exposure in excess of its net assets through leverage, which magnifies both gains and losses. The Fund’s returns over periods longer than a single day will likely differ, in amount and possibly direction, from its stated daily target. For periods longer than a single day, the Fund will lose money if its Target Portfolio performance is flat, and it is possible that the Fund will lose money even if its Target Portfolio’s performance increases. The Fund is intended for short-term use and is not appropriate for investors who do not intend to actively monitor and manage their portfolios.

Newly Public Company Risk. SpaceX has recently completed, or is in the process of completing, its initial public offering. The first day of trading in a newly public company’s securities frequently involves extraordinary market activity and may differ significantly from subsequent trading days. For example, trading in SpaceX common stock may be characterized by substantial price volatility, rapid price movements, significant differences between the IPO price and the opening market price, wide bid-ask spreads, trading imbalances, limited liquidity, trading halts, and other market disruptions. These conditions may make it difficult for market participants to value SpaceX common stock and may contribute to significant fluctuations in the market price of the Fund’s Shares.

SpaceX-Specific Risks. The Fund’s exposure to SpaceX stock will subject it to risks specific to SpaceX, including its expected status as a controlled company with voting power concentrated in founder Elon Musk through Class B common stock (10 votes per share), the Fund’s dependence on Mr. Musk’s services and reputation, and the execution risk associated with unproven or novel technologies such as the Starship program, next-generation Starlink satellites, and orbital AI initiatives.

Initial Trading Day IPO Exposure Risk. The Fund expects to seek exposure to the performance of SpaceX common stock measured from the opening market price of SpaceX common stock on its first day of exchange trading. The Fund will not seek to provide exposure to the difference between the IPO offering price and the opening market price of SpaceX common stock. There can be no assurance that the Fund will be able to obtain, maintain, or rebalance its desired level of exposure to the performance of SpaceX common stock during its in initial day of trading.

Derivatives Capacity Constraints Risk. Because SpaceX will be a newly public company, the markets for swap agreements, options contracts, and other instruments that the Fund may use to obtain leveraged exposure may be limited, illiquid, volatile, costly, or unavailable. Counterparties may impose exposure limits, exchanges may impose position limits or other restrictions, and market participants may be unwilling or unable to provide the Fund with the desired level of exposure. These constraints may increase tracking error, cause the Fund to return substantially less than its desired daily leveraged exposure to the performance of SpaceX stock, or prevent the Fund from achieving its investment objective. These risks may be particularly pronounced during the period immediately following an IPO, when trading volumes, liquidity conditions, derivatives availability, counterparty capacity, price discovery, and market volatility may be highly uncertain.

Derivatives and Non-Diversification Risk. The Fund uses swap agreements and/or listed options contracts to obtain economic exposure to its Target Portfolio securities, which are subject to counterparty, liquidity, valuation, correlation, and leverage risks, as well as the risk that a derivative will not perform as expected. The Fund is classified as non-diversified and may invest a larger portion of its assets providing exposure to a single issuer.

Tax Risk. The Fund’s use of swaps and other derivatives may produce taxable income, including ordinary income and short-term capital gains, which are generally taxable at higher rates than long-term capital gains.

Past performance does not guarantee future results. Fund holdings and exposures are subject to change at any time and should not be considered recommendations to buy or sell any security.

Defiance Daily 2X Space ETF is distributed by Foreside Fund Services, LLC.

About Defiance ETFs

Founded in 2018, Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs. Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

Media Contact: Brenda Hentschel | bhentschel@gregoryagency.com | 201.705.3758

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a5c0544-ce9e-448b-8fc2-3ed279f10583 

SOURCE: Defiance ETFs

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

MAVENIR RECEIVES GERMANY'S FIRST BSI NESAS CERTIFICATION FOR 5G NETWORK FUNCTION

KUALA LUMPUR, June 15 (Bernama) -- Mavenir, the software company building cloud-native, AI-by-design mobile networks, announced it has become the first tier-one telecommunications infrastructure software provider to receive Germany's BSI NESAS certification for a 5G Packet Core network function.

In a statement, the company said the certification was awarded for its Network Repository Function (NRF), confirming that the product meets security requirements for use as a critical component in public telecommunications networks in Germany.

Mavenir Senior Vice President, Operations, Omar Shahdad said the certification demonstrates the company's commitment to meeting stringent national cybersecurity requirements for 5G software and network infrastructure.

Meanwhile, Federal Office for Information Security (BSI) Head of Certification, Fabian Hodouschek said the certification marked an important step in strengthening the cybersecurity of Germany's mobile telecommunications networks.

He said the certification confirms that Mavenir's Network Repository Function, including its development and lifecycle processes, complies with the standards of the internationally recognised NESAS security framework.

According to Mavenir, the milestone follows the implementation of mandatory BSI NESAS certification requirements under Germany's Telecommunications Act and BSI Act, which took effect on Jan 1, 2026.

The certification was issued by Germany's BSI under the BSI NESAS certification scheme, which builds on the Global System for Mobile Communications Association (GSMA) Network Equipment Security Assurance Scheme (NESAS) framework.

The company said it is continuing certification of its broader Packet Core and IP Multimedia Subsystem (IMS) portfolio, with completion targeted by the third quarter of 2026 to support operators deploying compliant cloud-native network architectures.

-- BERNAMA

Analysis of SKHTU Exchange Compliance Progress from International Regulatory Trends

DENVER, June 15 (Bernama-GLOBE NEWSWIRE) -- Recently, the FCA (Financial Conduct Authority) of the United Kingdom has been rapidly increasing its regulatory influence over the crypto industry and gradually strengthening compliance requirements for trading platforms. Against this backdrop, the application of SKHTU Exchange for an FCA license has attracted industry attention.

Compared to the relatively relaxed development environment in the early stages, the FCA now requires applicant institutions to establish a complete customer identification mechanism, fund flow monitoring, and internal risk control mechanisms, and to reduce potential financial risks through ongoing reviews. This has also made FCA registration an important compliance threshold for entering the UK market.

The high regard for UK regulatory authorization is closely tied to the long-standing status of the country as a global financial center. For digital asset platforms, entering the UK regulatory framework also helps enhance their compliance recognition within Commonwealth markets. Therefore, the importance of FCA registration is continuously increasing.

Public information indicates that SKHTU Exchange is currently advancing its registration process with the UK Financial Conduct Authority (FCA) and has entered the relevant regulatory stage. Market analysts believe that this move is not only a key component of its European market expansion strategy but also reflects the platform accelerating the construction of its global compliance framework.

At the same time, regulatory scrutiny of the digital asset industry is intensifying simultaneously across major global jurisdictions. The focus of regulation is gradually converging on fund security, operational transparency, and user protection mechanisms. This implies that future industry competition will further shift toward a comprehensive contest of compliance systems and long-term operational capabilities.

A complete compliance framework is no longer merely a market access requirement for a single region; it is gradually becoming a critical compliance benchmark for international digital asset platforms. Against this backdrop, the progress of the FCA application by SKHTU Exchange is also emerging as an important reference for observing its European strategy.

From an industry trend perspective, a comprehensive compliance framework is no longer merely a market access requirement for a single jurisdiction but has gradually become a foundational standard for cryptocurrency exchanges operating across multiple markets. Against this backdrop, the progress of SKHTU Exchange in pursuing a license from the UK Financial Conduct Authority (FCA) has also become a key reference for evaluating its global strategic layout.

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/451ce58b-eca1-43ae-b75a-6a4c0578c7a8

Contact: Ridzuan-support@skhtu.org

SOURCE: Skhtu Exchange Services Ltd

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA

Compassion Across Borders: Maybank drives Group-Wide Qurban programme, uplifting over 29,000 communities in ASEAN

Photo 1

R-L: President & Group CEO of Maybank, Dato’ Sri Khairussaleh Ramli, Group CEO of Islamic Banking & CEO of Maybank Islamic, Mohamad Yasin Abdullah, Mohd Rafie Ali, Nazir of Masjid Al-Iman Kemensah Heights and Mohamad Zaharul Azrul Mohamad Pauzi, Branch Manager of Maybank Taman Melawati participating in the Salam Qurban Perdana programme at Masjid Al-Iman Kemensah Heights, Kuala Lumpur.

KUALA LUMPUR, June 12 (Bernama) -- Maybank Group via its Islamic Banking arm initiated its FY2026 Qurban programmes and activities through Maybank Group Islamic Banking’s (MGIB) ‘Salam Qurban Perdana’, benefitting 29,760 individuals from underprivileged families across Malaysia, Indonesia, Singapore and the Philippines.

The large-scale regional initiative reflects the Group’s continued commitment towards advancing inclusive and sustainable social impact, in line with its ROAR30 strategy and purpose of Humanising Financial Services.

The Salam Qurban Perdana was implemented across 69 mosques and distribution locations regionally with a cumulative spend of over RM1.3 million, delivering measurable social impact in conjunction with the Hari Raya Aidiladha celebration. This initiative saw MGIB mobilising charitable and zakat funds across ASEAN to facilitate qurban distributions to vulnerable communities.

With the aim of strengthening community resilience and fostering meaningful engagement beyond banking, the initiative was funded through contributions from Maybank Islamic Ikhwan Card Charity Fund, Maybank Indonesia’s Unit Pengelola Dana Kebajikan Fund and Maybank Singapore Zakat Fund.

Group CEO, Islamic Banking and CEO of Maybank Islamic Berhad, Mohamad Yasin Abdullah said “Salam Qurban Perdana is a reflection of Islamic values in action, anchored on generosity, unity and the collective responsibility to uplift underserved communities. Through this meaningful initiative which is a part of MGIB’s Salam Festival, we aspire to unite communities across borders and backgrounds, while strengthening the role of Islamic finance as a catalyst for sustainable and inclusive social development.”

In Malaysia, the initiative reached 20,400 beneficiaries through strategic collaborations with 33 mosques nationwide. It was implemented across multiple states, enabling qurban meat distribution to underprivileged families, single mothers, senior citizens and vulnerable communities in both urban and rural areas.

In Indonesia, the initiative benefited 4,810 recipients through 20 Syariah branches across 20 cities. The qurban distributions were carried out in collaboration with 25 institutions and local partners to ensure efficient delivery to targeted beneficiaries, including low-income households and vulnerable groups.

In Singapore, the initiative made a meaningful impact on the community with approximately 3,500 kg of fresh Qurban meat distributed to 2,500 beneficiaries. Beyond the distribution of fresh meat, the spirit of giving was further extended through the preparation and serving of 250 kg of cooked Qurban meals to approximately 2,000 beneficiaries.

Meanwhile, in the Philippines, around 50 beneficiaries received qurban meat contributions through targeted community distribution efforts. The ceremonial turnover of two live cows was held at Al-Irshad Mosque, Taguig City bringing together representatives from 11 beneficiary mosques outside Maharlika Village.

The Salam Qurban Perdana initiative forms part of the broader MGIB Salam Festival programme comprising of Salam Iftar Perdana, Salam Syawal Open House and Salam Qurban Perdana, which collectively aim to unite communities through peace, faith and compassion across ASEAN.

SOURCE: Malayan Banking Berhad (MAYBANK)

FOR MORE INFORMATION, PLEASE CONTACT:
Maybank Group Corporate Affairs
Name: Izlyn Ramli
Tel: +60 19 200 0248
Email: corporateaffairs@maybank.com

--BERNAMA

Horizon Quantum Announces Dublin as Its Second Quantum Computer Testbed Location, Bringing A Frontier Quantum System to Ireland

 

^{This photo depicts a current trapped ion system from IonQ. The system to be delivered to Horizon will be IonQ’s next-generation 256-qubit technology.}


DUBLIN & SINGAPORE, June 12 (Bernama-BUSINESS WIRE) -- Horizon Quantum Holdings Ltd. (“Horizon Quantum”), a pioneer of software infrastructure for quantum applications, today announced that it expects to locate its second quantum computer—anticipated to be one of the most advanced commercial quantum systems in the world—in Dublin, Ireland.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611797092/en/ 

By placing this IonQ 256-qubit system at its European headquarters, Horizon Quantum aims to benefit from Ireland’s growing quantum ecosystem, strong university network, and robust talent pool for deep-tech development, both within the country and across the EU.

Horizon Quantum believes the installation of this frontier system will be a significant technology milestone for the nation, positioning Ireland to play an increasingly prominent role in frontier quantum computing.

Minister Peter Burke, Department of Enterprise, Tourism and Employment, said: “I welcome Horizon Quantum’s decision to locate its second quantum computer testbed in Dublin. This significant investment reinforces Ireland’s position at the forefront of advanced technologies and reflects the strength of our growing quantum ecosystem, world-class research base, and highly skilled workforce. The establishment of one of the most advanced commercial quantum systems here is an important milestone that will support innovation, collaboration, and economic growth, while further enhancing Ireland’s ambition to be a global hub for cutting-edge technologies. This also aligns with our strategic focus in Silicon Island—Ireland’s National Semiconductor Strategy —on harnessing opportunities in rapidly evolving fields, including quantum technologies.”

IonQ’s sixth-generation, chip-based 256-qubit trapped-ion system is anticipated to be among the most sophisticated quantum computers globally. With its expected qubit count and high gate fidelities, the system could be capable of solving some challenging computational problems. By integrating this system with its software infrastructure, Horizon Quantum plans to expand support for trapped-ion systems in its integrated development environment, Triple Alpha, and to enhance the real-time runtime capabilities of its execution stack—furthering the company’s mission to unlock broad quantum advantage with its software infrastructure.

To oversee the establishment and management of its second quantum system, Horizon Quantum anticipates expanding its Irish-based science and engineering teams and deepening its engagement with Ireland’s quantum ecosystem. By anchoring this system and its accompanying high-value operations in Dublin, Horizon Quantum expects to further catalyze this ecosystem through increased involvement with industry, academia, and the local supply chain.

“Expanding our hardware testbed to Ireland with the addition of a frontier system is a significant step forward for both our company in our mission to unlock broad quantum advantage and for the country in strengthening its quantum ecosystem,” said Horizon Quantum CEO & Founder Dr. Joe Fitzsimons. “We are excited to extend our testbed capabilities to include a trapped-ion system by deploying this state-of-the-art quantum computer in Dublin.”

In December 2025, Horizon Quantum announced that it had assembled and integrated the first quantum system in its hardware testbed—a multi-vendor superconducting system—at its Singapore headquarters. The expansion of the company’s testbed facilities to its European headquarters with a second, technologically distinct system will help further its goal of delivering the most capable hardware-agnostic tools for quantum software development.

Michael Lohan, CEO of IDA Ireland, said: “I warmly congratulate Horizon Quantum on this significant investment in Ireland and on selecting Dublin as the location for its second quantum computer testbed. Quantum development is an important strategic priority for IDA Ireland, and this announcement is a strong endorsement of Ireland’s growing technology ecosystem, our research capabilities, and the talent available here. Horizon Quantum’s decision to invest in Ireland further strengthens our position in frontier technologies and will help support continued innovation and collaboration across the quantum sector. I wish the team every success with this exciting next phase of growth in Ireland.”

About Horizon Quantum
Horizon Quantum [Nasdaq: HQ] is on a mission to unlock broad quantum advantage by building software infrastructure that empowers developers to use quantum computing to solve the world’s toughest computational problems. Founded in 2018 by Dr. Fitzsimons, a leading researcher and former professor with more than two decades of experience in quantum computing, Horizon Quantum seeks to bridge the gap between today’s quantum hardware and tomorrow’s applications through the creation of advanced software development tools. Its integrated development environment, Triple Alpha, enables developers to write sophisticated, hardware-agnostic quantum programs at multiple levels of abstraction. Learn more at www.horizonquantum.com.

Note to Investors Regarding Forward-Looking Statements

This press release includes forward-looking statements. The expectations, estimates, and projections of the business of Horizon Quantum may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “anticipate,” “intend,” “may,” “will,” “could,” “should,” “potential,” “plan” “enable,” and similar expressions are intended to identify such forward-looking statements. Actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Horizon Quantum cautions against placing undue reliance on any of these forward- looking statements. Many of these factors are outside of the control of Horizon Quantum and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) references with respect to the anticipated benefits of the trapped ion system purchased from IonQ; (2) the outcome of any efforts to integrate IonQ’s trapped-ion technology with Horizon Quantum’s software infrastructure; (3) Horizon Quantum’s ability to scale and grow its business, and the advantages and expected growth of Horizon Quantum; (4) the ability to recognize the anticipated benefits of the locating the trapped ion system in Ireland, including the ability to which Horizon Quantum will be able to participate in or integrate with Ireland’s quantum ecosystem; (5) changes in applicable laws and regulations or political and economic developments; (6) the possibility that Horizon Quantum may be adversely affected by other economic, business and/or competitive factors; (7) difficulties operating Horizon Quantum’s quantum processors and the possibility that the quantum processors do not provide the advantages that Horizon Quantum expects; (8) the ability of Horizon Quantum to integrate access to its quantum computing test bed, including IonQ’s technology, within its Triple Alpha platform; (9) the ability of Horizon Quantum’s coding languages to provide additional abstraction when compared to other quantum computing solutions; and (10) other risks and uncertainties included in the “Risk Factors” sections of Horizon Quantum’s most recent Annual Report on Form 20-F and other documents filed or to be filed with the SEC by Horizon Quantum. The foregoing list of factors is not exclusive. New risks emerge from time to time, and it is not possible for management to predict all risks, nor can management assess the impact of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Horizon Quantum does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20260611797092/en/

Contact

Horizon Quantum media contact
Yanina Blaclard
media@horizonquantum.com

Horizon Quantum investor contact
Katherine Bailon
investors@horizonquantum.com

Source : Horizon Quantum Holdings Ltd.

PENGERANG ENERGY COMPLEX AWARDS EPCC CONTRACT TO CNCEC

KUALA LUMPUR, June 10 (Bernama) -- Pengerang Energy Complex Sdn Bhd (PEC) has awarded the engineering, procurement, construction and commissioning (EPCC) contract for its Pengerang Energy Complex project in Johor, Malaysia, to China National Chemical Engineering Company Limited (CNCEC).

The award marks a key milestone for PEC as the project progresses through the final approval process with global export credit agencies and project finance lenders.

A PEC spokesperson said the award reflects the project’s continued progress towards construction and the company’s commitment to delivering a world-scale facility.

According to a statement, CNCEC was selected following a comprehensive evaluation of its technical expertise, financial strength and project execution capabilities.

As a global engineering and construction group, CNCEC brings extensive experience in large-scale energy and petrochemical projects, including familiarity with Honeywell UOP technologies that form part of the project's process design.

The collaboration is expected to strengthen the strategic partnership between PEC and CNCEC and support future cooperation on PEC’s planned energy and petrochemical developments.

PEC is developing the Pengerang Energy Complex in Johor, Malaysia, an integrated refinery and petrochemical project aimed at serving regional and international markets.

-- BERNAMA

PETRONAS STRENGTHENS STRATEGIC PARTNERSHIPS AND STATE PARTICIPATION TO SUSTAIN DOMESTIC ENERGY VALUE

KUALA LUMPUR, June 10 (Bernama) -- PETRONAS, through its wholly owned subsidiary, PETRONAS Carigali Sdn Bhd, has entered into several agreements involving selected producing upstream assets in Peninsular Malaysia and Sarawak, reinforcing its commitment to sustaining long-term value creation for Malaysia by further leveraging on a partnership-led approach. The agreements form part of PETRONAS’ broader portfolio optimisation efforts to develop upstream assets responsibly and sustainably, in support of Malaysia’s long-term energy security and industry development.
As part of this approach, EnQuest Petroleum Production Malaysia Ltd is to assume operatorship and participating interests (PI) in the Balingian PSC, SK8 PSC and D35 PSC, while also participating as a nonoperating partner in the PM6/12 PSC. The company is envisaged to leverage its Group’s integrated technical capabilities and experience in managing brownfield and late-life assets to support the continued operations and redevelopment of these producing assets.

A key component of one of these agreements is the participation of Terengganu’s TI Exploration & Production Sdn. Bhd. (TI EP), which will hold a non-operated PI in the PM6/12 PSC. The participation reflects PETRONAS’ continued efforts to facilitate state involvement in Malaysia’s upstream industry, enabling state-linked entities to build capabilities and participate meaningfully in the development of the nation’s petroleum resources. TI EP is a joint venture company between TI Petroleum Sdn. Bhd., a wholly owned subsidiary of Terengganu Inc., the state-owned strategic investment arm and Ping Petroleum Limited, an independent upstream company focused in the niche area of late-life oil and gas assets, particularly in brownfield redevelopment of producing fields in the North Sea of the United Kingdom.

These strategic partnerships bring together complementary strengths to support the continued and efficient operations of these upstream assets, while facilitating operational learning, technical exchange and capability enhancement within Malaysia’s upstream sector, ensuring continued stewardship of Malaysia’s petroleum resources under the Petroleum Arrangement framework. By combining PETRONAS’ deep understanding of the domestic resource base with the specialised expertise of its partners, the arrangements are expected to support sustained production, maximise resource recovery and strengthen the resilience of Malaysia’s upstream ecosystem.

Mohd Jukris Abdul Wahab, Chief Operating Officer and Executive Vice President & CEO of Upstream PETRONAS, said the partnerships reflect PETRONAS’ responsibility to steward the nation’s resources responsibly while ensuring continued value creation for the country and its stakeholders.

“As these assets mature, it is important that they continue to be supported by the right partnerships to sustain value creation responsibly and over the long term. This includes creating opportunities for state participation, while bringing in partners with complementary capabilities and relevant operating experience. This approach will position us to attract continued investment, strengthen industry capabilities, and support Malaysia’s energy security, while ensuring these assets continue to deliver value for the nation.”

PETRONAS remains committed to advancing Malaysia’s energy interests responsibly, while continuing to foster collaboration across federal and state stakeholders, industry partners, and the broader upstream ecosystem.

Issued by
Media Management, Channels & Media Relations
Group Strategic Relations & Communications
PETRONAS

SOURCE: Petroliam Nasional Berhad (PETRONAS)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Nabil Basaruddin:
Tel: +6012-424 9750
Email: nabil.basaruddin@petronas.com

Name: Hana Naz Harun
Tel: +6010-455 3378
Email: hananazsulaeeqa.haru@petronas.com

--BERNAMA