Oiltek International Limited has answered questions from a shareholder and the Securities Investors Association (Singapore) ahead of its upcoming annual general meeting on Apr, 28 2026.

The group said it has no immediate plan for a further stock split but continues to review its capital structure after completing a two-for-one bonus issue on May, 15 2025. Management will announce any future capital moves in line with Singapore Exchange rules.

Chief executive Henry Yong is leading negotiations with Bioseaga Industries Sdn Bhd on a definitive engineering, procurement, construction and commissioning (EPCC) contract to build a sustainable aviation fuel plant in Sabah with a planned capacity of about 300 tonnes per day and an estimated value of about 350 million US dollars. Oiltek’s audit and risk committee has identified execution, financing, regulatory and geopolitical risks, and said mitigation measures include established project-management processes and board oversight.

The company reaffirmed its intention, first announced on Jul, 21 2025, to pursue a secondary listing on Bursa Malaysia to broaden its investor base and enhance liquidity. All professional advisers have been appointed and preparatory work is ongoing; costs will be disclosed in the offer documents. Management said compliance obligations on Bursa are broadly similar to those on SGX and should not materially increase administrative workload.

On governance, Oiltek said its board committees each comprise five members, with independent directors in the majority and an independent chair, which it believes ensures effective oversight. The appointment of an alternate director for non-executive director Koh Keng Siang in Mar, 01 2023 was attributed to his frequent travel and business commitments.

The company will provide further updates on the SAF project, the proposed Bursa listing and any future capital actions as developments arise.