This is nice, I haven't heard something like this on NG before. Have you ever heard of Bruce Haack? He was a pioneer of electronic music in the 70's. The instrumentation in this song really reminds me of him, specifically his album entitled "Bite"

Apart from that, this sounds more like ADLIB/OPL than sega's FM chip, which could achieve similar sounds.

sounds like jungle dub

Really cool composition! The time change in the middle is really nice.