Rex International unit awarded US$1.95m as HiRex arbitration ends

Singapore

CATALIST-listed oil explorer Rex International Holding on Tuesday said that arbitration between its wholly owned subsidiary, Rex Technology Management (RTM), and HiRex Petroleum Sdn Bhd has concluded - with RTM being awarded US$1.95 million as a result.

HiRex is a joint venture company between Rex International's subsidiary, Rex South East Asia, and Hibiscus Petroleum Berhad.