Rex International to remove Lime Petroleum from consolidated accounts after board overhaul

SGX Filings

May 08

Rex International Holding Limited (5WH) announced on May, 8 2026 that it will deconsolidate the financial results of Lime Petroleum Holding AS after losing board representation at the Norwegian subsidiary and its operating unit Lime Petroleum AS.

The change takes effect from Apr, 10 2026 and will be reflected in Rex’s half-year results to Jun, 30 2026. Rex’s shareholding in Lime Petroleum Holding AS remains unchanged at 89.74 per cent.

Pro-forma figures show that, had the deconsolidation been applied for the full 2025 financial year, the Group’s loss would have narrowed from about 206 million Singapore dollars to roughly 31 million Singapore dollars. Net asset value would have shifted from a negative 127 million Singapore dollars to a positive 52 million Singapore dollars.

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