TMD Energy Ltd

TMD Energy Limited, a foreign private issuer incorporated in the Cayman Islands and listed on the NYSE American, is filing a Form 6-K to disclose its reliance on home country practice exemptions. The company will follow Cayman Islands' governance practices instead of certain NYSE American requirements, as confirmed by its legal counsel, Ogier. These practices pertain to board composition, quarterly earnings statements, shareholder approval, and quorum requirements. TMD Energy will detail any significant deviations from NYSE American standards in its annual Form 20-F filing.

TMD Energy Ltd has executed a Letter of Guarantee with MBSB Bank Berhad, acting as a guarantor for financing facilities extended by the Bank to an unnamed 'Customer'. Under the terms, TMD Energy unconditionally and irrevocably guarantees the payment of all 'Guaranteed Amounts' and is liable as a principal debtor. This is a continuing obligation, increasing TMD Energy's financial exposure related to the Customer's debt.

TMD Energy Ltd reported unaudited financial results for the first half of fiscal year 2026, showing a significant downturn. Total revenues decreased by 22.5% to $247.6 million, while gross profit plummeted by 93.8% to $0.7 million. The company recorded a net loss of $8.5 million, a substantial decline from a net income of $0.9 million in the prior-year period. Management cited geopolitical uncertainties, tariff tensions, and softer global trade as key challenges, but highlighted an extended partnership for sustainable biofuels.

TMD Energy Ltd reported a net loss of $8.5 million for the first half of fiscal year 2026, a significant decline from a net income of $0.9 million in the prior-year period. Total revenues decreased by 22.5% to $247.6 million, primarily due to lower demand for marine fuels, geopolitical uncertainties, and a 16% drop in global oil prices. Gross profit plummeted by 93.8% to $0.7 million, impacted by competitive market pressures and increased operational costs. The company also announced a two-year extension of its partnership with Double Corporate Sdn Bhd to explore sustainable waste-based biofuels.

TMD Energy Limited announced a two-year extension of its Memorandum of Agreement (MOA) with bioenergy firm Double Corporate Sdn Bhd. The original MOA, signed on June 18, 2025, established a framework for exploring strategic collaboration on sustainable bioenergy fuel solutions for the EU and Asia markets. This extension, effective June 8, 2026, adds two years to the agreement, maintaining all original terms and conditions and granting a two-year exclusivity period for market participation.