New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Share price has been highly volatile over the past 3 months (77% average weekly change). Revenue has declined by 17% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (US$30.9m market cap). Board Change • Mar 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Kok Chaw Leong is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Feb 17
TMD Energy Limited Announces Changes to Its Board of Directors, Effective February 16, 2026 TMD Energy Limited announced that, on February 16, 2026, Mr. Shin Yick Fabian resigned as an independent Director. Upon his resignation, Mr. Shin Yick Fabian ceased to serve as chairman of the nominating and corporate governance committee of the Board and as a member of each of the audit committee of the Board and the compensation committee of the Board. Mr. Shin Yick Fabian's resignation was due to personal reasons. To fill the vacancy created by Mr. Shin Yick Fabian's resignation, the Board appointed Mr. Kwok On Tse as an independent Director on February 16, 2026. Upon his appointment, Mr. Tse was also appointed to serve as a member and chairman of the nominating and corporate governance committee and as a member of each of the audit committee and the compensation committee. Mr. Tse, aged 59, has over 20 years of experience in investment banking and capital markets. He is currently the deputy chief executive officer of SBI China Capital Financial Services Limited, a position he has held since March 2023. Prior to this, he served as head of global capital markets at Eddid Securities and Futures Limited from March 2020 to July 2022. From May 2017 to March 2020, Mr. Tse was managing director and co-head of global capital markets at Southwest Securities (HK) Capital Limited. Earlier in his career, Mr. Tse served as associate director, equity capital markets, at Goldbond Securities Ltd. (currently known as Piper Jaffray Asia Securities) from August 2006 to May 2007. He previously worked at CLSA Limited from 2001 to 2006 as assistant manager, syndicate, and from 1996 to 2001 as assistant manager, settlement and operations. Mr. Tse is a licensed person with the Hong Kong Securities and Futures Commission, holding Type 1 (Dealing in Securities) and Type 6 (Advising on Corporate Finance) licenses. He obtained a Master of Business Administration degree from The University of Northern Virginia. New Risk • Dec 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.66m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Revenue has declined by 17% over the past year. Market cap is less than US$10m (US$9.66m market cap). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Reported Earnings • Oct 02
First half 2025 earnings released: US$0.20 loss per share (vs US$0.042 profit in 1H 2024) First half 2025 results: US$0.20 loss per share (down from US$0.042 profit in 1H 2024). Revenue: US$276.3m (down 23% from 1H 2024). Net loss: US$4.31m (down US$5.15m from profit in 1H 2024). Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$1.01, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Board Change • Jul 30
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Yick Fabian Shin is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • May 01
TMD Energy Limited announced delayed 20-F filing On 04/30/2025, TMD Energy Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Board Change • Apr 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.