Unless otherwise defined, capitalised terms in this announcement shall have the same meaning given to
them on the Company’s press release dated 30 August 2021 (“Press Release”) and announcement dated
20 June 2022 (“Announcement”), in relation to the Company’s signing of two Small Field Assets
Production Sharing Contracts (“PSCs”) awarded earlier by Petroliam Nasional Berhad (“PETRONAS”),
Malaysia’s national oil corporation, with the Company’s Malaysian partner, Duta Marine Sdn. Bhd.
(“DMSB”), a provider of vessels and qualified manpower for offshore oil and gas operations. These
PSCs are related to the development and production of the Rhu-Ara and the Diwangsa Clusters located
in offshore Peninsular Malaysia.
The board of directors of Rex International Holding Limited (the “Company”) refers to the Press Release
and Announcement and wishes to announce that the Rhu-Ara and the Diwangsa Clusters PSCs, in which
the Company’s wholly-owned subsidiary Pantai Rhu Energy Sdn. Bhd. (“PRE”) holds participating
interest, have been relinquished to PETRONAS effective 31 August 2023 (“Relinquishment”).
Pursuant to the Relinquishment, PRE will no longer hold any participating interest in the two PSCs and
will cease to be the operator of the PSCs.
None of the Directors or the substantial shareholders of the Company has any interest, direct or indirect,
in the above transaction, save for their interests arising by way of their directorships and/or
shareholding (as the case may be) in the Company.