20 November 2025

ChemOne Group has restated its full commitment to the Pengerang Energy Complex (PEC), addressing recent reports speculating that construction and financing challenges may have contributed to schedule slippages in the US$5.3 billion project.

PEC is a fully integrated aromatics and energy manufacturing complex and one of Southeast Asia’s most advanced downstream developments. Designed to strengthen regional supply of aromatics and clean fuels, the project incorporates cutting-edge technologies to enhance efficiency, reduce emissions, and meet international ESG standards. It is also aligned with Malaysia’s downstream ambitions and supported by multilateral institutions.

Project fundamentals remain solid, with continued confidence and alignment among key stakeholders. ChemOne has secured approximately US$3.5 billion in financing commitments from export credit agencies and development banks, reinforcing the project’s strong foundation.

PEC remains firmly on course toward:

• Financial close
• Project execution
• Production launch

A Resilient Project with Regional Impact

Upon completion, PEC will be one of the region’s largest aromatics and energy facilities, producing 2.7 million tonnes of aromatics and 4 million tonnes of petroleum products annually. With its scale, technology platform, and strategic relevance, the long-term outlook for PEC remains robust.