FOR IMMEDIATE RELEASE

12 January 2023

Northfield Announces Demerger of Malaysian Operations and Sale of Twogees Sdn Bhd Shareholding

KUALA LUMPUR, MALAYSIA – Northfield Group Ltd, an independent global company specialising in energy commodities and fertilisers trading, is pleased to announce a strategic demerger of its Malaysian operations, including the sale of its 48% shareholding in Twogees Sdn Bhd, a prominent player in food security projects, food distribution, and trading. This decision aligns with Northfield’s commitment to focus on its core business and maximise value for its stakeholders.

The demerger involves Northfield divesting its ownership in Twogees Sdn Bhd to a local investor, enabling both entities to pursue their distinct strategic objectives and unlock new growth opportunities. As part of this strategic move, Northfield will cease its operations in Kuala Lumpur, with the energy trading activities transitioning to Singapore and Dubai, where the company has established strong footholds in the global energy market.

Northfield’s decision to demerge its Malaysian operations and divest its shareholding in Twogees Sdn Bhd stems from a strategic evaluation of its business portfolio and a commitment to optimise resource allocation. By focusing on the trading of energy commodities and fertilisers, Northfield aims to further strengthen its position as a global company in the energy market and deliver enhanced value to its stakeholders.

This demerger is expected to bring several key benefits:

1. Strategic Focus: By divesting from Twogees Sdn Bhd, Northfield will concentrate its efforts on its core business, trading energy commodities and fertilisers. This sharper strategic focus will allow Northfield to allocate resources more efficiently and enhance its ability to respond to market dynamics.
2. Accelerated Growth Opportunities: The demerger will unlock new growth opportunities for both entities. Twogees Sdn Bhd will have the flexibility to align its resources and expertise exclusively on food security projects, food distribution, and trading, enabling it to pursue tailored strategies and capitalise on the evolving needs of the Malaysian market.
3. Value Creation for Stakeholders: The demerger and divestment will create value for Northfield’s shareholders, employees, customers, and partners. The transaction will provide enhanced transparency and opportunities for growth and profitability, allowing stakeholders to benefit from the focused strategies of each independent entity.
4. Streamlined Operations: By closing its Kuala Lumpur offices and relocating the energy trading operations to Singapore and Dubai, Northfield will streamline its operations and leverage the established infrastructure and market presence in these key global energy hubs.

Northfield is committed to ensuring a seamless transition during this demerger process. The company will work closely with its employees, customers, suppliers, and shareholders to minimise any disruptions and facilitate a smooth experience.

As Northfield focuses on its core business of trading energy commodities and fertilisers, the company remains dedicated to delivering innovative solutions and exceptional value to its customers. The demerger allows Northfield to consolidate its resources, expertise, and customer-centric approach, further strengthening its position as a trusted partner in the global energy market.

For further information, please contact:

Jane Smith
Director of Communications
media@northfield.com

About Northfield:

Northfield is a leading global company specialising in the trading of energy commodities and fertilisers. With a strong track record of success, Northfield has established itself as a trusted partner in the global energy market. The company’s unwavering commitment to excellence and continuous innovation drives its mission to deliver exceptional value to customers while maximising shareholder returns.