CBL International: Berjaya Shipping reports 18.9% stake

The 18.9% ownership calculation uses a 1,585,496-share denominator, including 100,000 option shares deemed outstanding.

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

For CBL International Ltd (BANL), Berjaya Shipping Limited reported beneficial ownership of 300,000 Class B ordinary shares, equal to 18.9% of the class. The reported amount comprises 200,000 shares held directly and 100,000 shares issuable upon exercise of an option. The option has an exercise price of US$3.18 per share and may be exercised, in whole or in part, at any time until nine months after October 23, 2026, subject to a beneficial ownership limitation of 19.99% of the outstanding Class B ordinary shares.

Berjaya Shipping acquired the shares and option under a share purchase agreement dated October 23, 2026, between it and CBL International. Xiuzhen Ding, a Director, signed the statement.

Key Figures

Beneficially owned: 300,000 Class B ordinary shares Shares held directly: 200,000 shares Option shares: 100,000 shares +5 more

8 metrics

Beneficially owned 300,000 Class B ordinary shares Berjaya Shipping Limited's reported amount

Shares held directly 200,000 shares Included in Berjaya Shipping Limited's reported beneficial ownership

Option shares 100,000 shares Issuable upon exercise of an option held by Berjaya Shipping Limited

Percent of class 18.9% Berjaya Shipping Limited's reported beneficial ownership

Option exercise price US$3.18 per share Exercise price for the option

Beneficial ownership limitation 19.99% Limitation applicable to the option

Ownership calculation denominator 1,585,496 Class B ordinary shares Shares used to calculate the reported ownership percentage

Private placement issuance 400,000 Class B ordinary shares Issued by CBL International on October 23, 2026

Key Terms

beneficial ownership limitation, sole voting power, sole dispositive power, issuable upon exercise, +1 more

5 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"

private placement financial

"400,000 Class B ordinary shares issued by the Issuer on October 23, 2026 in a private placement"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

FAQ

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

How many BANL shares does Berjaya Shipping Limited beneficially own?

Berjaya Shipping Limited reported beneficial ownership of 300,000 Class B ordinary shares, or 18.9% of the class. That amount comprises 200,000 shares held directly and 100,000 shares issuable upon exercise of an option.

How was Berjaya Shipping’s BANL ownership percentage calculated?

The calculation uses 1,585,496 Class B ordinary shares: 1,085,496 outstanding as of August 26, 2026, 400,000 issued in a private placement on October 23, 2026, 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 Limited

(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

Berjaya Shipping 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

HONG KONG

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 Limited
(b)	Address of issuer's principal executive offices: Level 23-2, Menara Permata Sapura, Kuala Lumpur City Centre, Kuala Lumpur, Malaysia, 50088
Item 2.
(a)	Name of person filing: Berjaya Shipping Limited
(b)	Address or principal business office or, if none, residence: The address of the Reporting Person is: 1213, Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, To Kwa Wan, Kowloon, Hong Kong
(c)	Citizenship: Hong Kong
(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.

Berjaya Shipping Limited

Signature:	/s/ Xiuzhen Ding
Name/Title:	Xiuzhen Ding / Director
Date:	10/30/2026

Exhibit Information

None