ChemOne Group has appointed former Malaysian minister Mohamed Nazri Abdul Aziz as a board member of Pengerang Energy Complex (PEC) and an adviser to the Group. Nazri, a senior statesman who recently served as Malaysia’s ambassador to the United States and held several cabinet portfolios, is expected to leverage his experience in diplomacy, government affairs, and economic policy to support PEC's next development phase and stakeholder engagement.

Project Financing Update:
In parallel, ChemOne is advancing a US$3.558 billion loan to fund its US$4.85 billion PEC project in Johor, Malaysia. Key details include:

• Financial Structuring: Mizuho is the arranger, with Korea Development Bank (KDB) as coordinating and documentation bank.
• Facility Components: MUFG is providing a US$300 million receivables purchase facility and is likely to join the lending syndicate.
• Target Signing: Loan agreements are now scheduled for Q1 2026.

Senior Lender Group:
The financing involves a mix of export credit agencies (ECAs), development banks, and commercial lenders:

• ECAs & Development Banks: Sace (US$1.165bn), Euler Hermes (US$500m), US Exim Bank (US$693m), CESCE (US$700m), IDB (US$100m), ICD (US$50m), ICIEC (US$350m).
• Commercial Banks: Includes Italy’s CDP, Spain’s BBVA and CaixaBank, Germany’s AKA Bank, Standard Chartered, Woori Bank, KDB, Saudi Arabia’s Al Rajhi Bank (and its Malaysian branch), Malaysia Exim Bank, MUFG, Qatar National Bank, and National Bank of Kuwait.

Significance:
The high-level appointment and complex, large-scale financing effort underscore the strategic importance of the PEC project. Nazri’s involvement is aimed at strengthening governance and navigating regulatory and diplomatic landscapes, while the syndicated loan reflects strong international confidence in the project’s viability.