CBL International: Turcom reports 18.9% Class B stake

The reported ownership percentage includes option shares deemed outstanding for the calculation, and the option is subject to a 19.99% beneficial ownership limitation.

Available on EDGAR 10/30/2026 - 08:01 AM EDT Accepted by SEC EDGAR 10/30/2026 - 08:00 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

CBL International Ltd reported that Turcom International Limited beneficially owns 300,000 Class B ordinary shares, or 18.9% of the class. The reported position includes 200,000 shares held directly and an option for 100,000 shares, exercisable at US$3.18 per share at any time until nine months after October 23, 2026, subject to a 19.99% beneficial ownership limitation. Turcom acquired the shares and option under a share purchase agreement dated October 23, 2026.

Key Figures

Beneficially owned Class B ordinary shares: 300,000 shares Percent of class: 18.9% Class B ordinary shares held directly: 200,000 shares +5 more

8 metrics

Beneficially owned Class B ordinary shares 300,000 shares Turcom International Limited's reported ownership

Percent of class 18.9% Turcom International Limited's reported ownership

Class B ordinary shares held directly 200,000 shares Included in the reported beneficial ownership

Shares issuable upon exercise of option 100,000 shares Included in the reported beneficial ownership

Option exercise price US$3.18 per share Option acquired under the share purchase agreement dated October 23, 2026

Beneficial ownership limitation 19.99% Applies to exercise of the option

Class B ordinary shares issued in private placement 400,000 shares Issued by CBL International Ltd on October 23, 2026

Class B shares in ownership calculation 1,585,496 shares Denominator used to calculate the reported ownership percentage

Key Terms

beneficial ownership limitation, sole voting power, sole dispositive power, issuable upon exercise

4 terms

beneficial ownership limitation regulatory

"subject to a beneficial ownership limitation of 19.99%"

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

sole voting power regulatory

"Sole Voting Power 300,000.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power regulatory

"Sole Dispositive Power 300,000.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

issuable upon exercise financial

"100,000 Class B ordinary shares issuable upon exercise of an option"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many BANL Class B shares does Turcom International Limited beneficially own?

Turcom International Limited beneficially owns 300,000 Class B ordinary shares, equal to 18.9% of the class. That amount comprises 200,000 shares held directly and 100,000 shares issuable upon exercise of its option.

How was Turcom International Limited's 18.9% BANL ownership calculated?

The reported calculation uses 1,585,496 Class B ordinary shares: 1,085,496 outstanding as of August 26, 2026, plus 400,000 issued in the October 23, 2026 private placement and 100,000 option shares deemed outstanding for the calculation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

CBL International Ltd

(Name of Issuer)

Class B ordinary shares, par value US$0.0013 per share

(Title of Class of Securities)

G1991X133

(CUSIP Number)

10/23/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G1991X133

1

Names of Reporting Persons

Turcom International Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MALAYSIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 300,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 300,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

300,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

18.9 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: (1) Represents (i) 200,000 Class B ordinary shares of the Issuer directly held by the Reporting Person, and (ii) 100,000 Class B ordinary shares issuable upon exercise of an option held by the Reporting Person, which is exercisable, in whole or in part, at any time until nine months after October 23, 2026 at an exercise price of US$3.18 per share, subject to a beneficial ownership limitation of 19.99% of the outstanding Class B ordinary shares. The Reporting Person acquired such Class B ordinary shares and option pursuant to a share purchase agreement dated October 23, 2026 between the Issuer and the Reporting Person. (2) Calculation is based on 1,585,496 Class B ordinary shares, being the sum of (i) 1,085,496 Class B ordinary shares outstanding as of August 26, 2026, as reported in the Issuer's prospectus supplement filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) on August 28, 2026, (ii) 400,000 Class B ordinary shares issued by the Issuer on October 23, 2026 in a private placement, including the 200,000 Class B ordinary shares issued to the Reporting Person, and (iii) 100,000 Class B ordinary shares issuable upon exercise of the option held by the Reporting Person, which are deemed outstanding for purposes of computing the percentage of the Reporting Person pursuant to Rule 13d-3(d)(1)(i) under the Securities Exchange Act of 1934.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CBL International Ltd
(b)	Address of issuer's principal executive offices: Level 23-2, Menara Permata Sapura, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia
Item 2.
(a)	Name of person filing: Turcom International Limited
(b)	Address or principal business office or, if none, residence: Unit Level 3(A), Main Office Tower, Financial Park Labuan, Jalan Merdeka, Wilayah Persekutuan Labuan, 87000, Malaysia
(c)	Citizenship: Malaysia
(d)	Title of class of securities: Class B ordinary shares, par value US$0.0013 per share
(e)	CUSIP Number(s): G1991X133
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 300,000
(b)	Percent of class: 18.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 300,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 300,000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Turcom International Limited

Signature:	/s/ Jinyao Qu
Name/Title:	Jinyao Qu / Director
Date:	10/30/2026

Exhibit Information

None