For consistency purposes, the abbreviations and definitions used throughout this announcement is the same as those previously defined in the Company's announcements made on 8 April 2022 and 24 May 2022 respectively in relation to the MOU entered between OVH and PCI Engineering (M) Sdn. Bhd. [Registration Number: 201301004245 (1034088-A)] (“PCIEM”) to collaborate in forming a business venture to set up a pipeline coating business to serve the domestic market in Malaysia as well as South East Asia, Australia and its related region based on the understanding and commitments as contained in the MOU ("Announcement").

The Board wishes to update that there has been no material development since the Announcements. 

This announcement is dated 30 August 2022.