Malaysia: PSP Energy to allocate MYR 15 million from IPO listing for additional bunker tanker

PSP Marine (M) Sdn Bhd, the bunkering subsidiary of Malaysia-listed PSP Energy Bhd, will be allocating MYR 15 million (USD 3.69 million) from newly acquired initial public offering (IPO) funds for the purchase of a marine refuelling vessel.

“We officially listed at Bursa Malaysia on 4 December 2025 and rose a total of MYR 34.2 million from the activity,” Soon Thian Fong, Managing Director of PSP Marine (M) Sdn Bhd, a subsidiary of PSP Energy, told Manifold Times during the sidelines of its IPO celebration dinner.

“Part of the IPO funds will be used to purchase a 2,000 dwt bunker tanker within the next 18 months.”

PSP Marine currently operates three bunker tankers in Malaysia. The vessels are PSP Grace (755 dwt, IMO 9056466), PSP Glory (737 dwt, IMO 8403038), and PSP Golden (1,198 dwt, IMO 9079652).

According to Mr Soon, the additional bunkering vessel will compliment PSP Marine’s support for a future bunkering hub currently developed at the Port of Tanjung Bruas, Melaka which is expected to start operations by the second half of 2026.

The company’s four vessels could form a link between Port Klang, Tanjung Bruas, Port Dickson, Kuala Linggi, Pasir Gudang, Tanjung Pelepas, Kukup, and Tanjung Langsat to support marine fuel delivery operations to commercial vessels plying within the Malacca Strait and Johor Strait.

PSP Energy’s IPO dinner “The Golden Milestone” was held at on 12 December at The Westin in Kuala Lumpur; a photo gallery of key highlights from the event and earlier IPO listing launch ceremony are as follows:

Related: Malaysia bunker supplier PSP Marine shares commercial expansion plans

Photo credit: PSP Energy Bhd
Published: 29 December 2025