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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.

According to Rex International, arbitration between the two parties began on Nov 24, 2016 when RTM sought payment of...

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