Singapore's IEV Holdings Limited wishes to clarify that its associate company, IEV (Malaysia) Sdn Bhd (IEV Malaysia) has signed a Technical and Services Agreement (Agreement) with Emrail Sdn Bhd (Emrail) and Ofnir Engineering Sdn Bhd (Ofnir) (collectively, the Parties) in respect of a crude oil handling facilities project in Bangladesh (the Project).

IEV wishes to further clarify that the Parties have not been awarded the Project and there are currently no financing arrangements and/or obligations to be undertaken by the Company in connection with the Project. For avoidance of doubt, the Agreement does not tantamount to the award of the Project to IEV.

Pursuant to the Agreement, discussions on the Project are currently ongoing between the Parties and such discussions are preliminary at this juncture.

Tags: IEV Holdings Limited