Dagang NeXchange wholly owned unit Ping Petroleum Limited announced that it has acquired a 20% equity stake in TI Exploration & Production Sdn Bhd from TI Petroleum Sdn Bhd, a subsidiary of Terengganu Inc.
The acquisition expands DNeX’s energy business and aligns directly with its broader strategy to strengthen its energy portfolio while building a stronger presence in regional energy opportunities. Additionally, the acquisition also offers Ping which is already in Terengganu through the redevelopment of the Abu Cluster, a constructive pathway to further participate in the country’s energy sector alongside a partner that understands the local landscape and supply chain, regulatory framework, and Terengganu’s long-term energy development priorities.
The group sees the partnership unlocking significant synergies through Terengganu Inc’s strategic positioning as the state’s investment holding company, which manages and monitors all forms of business entities, as well as commercial and investment assets on behalf of the state government.
