OCEAN VANTAGE Holdings Berhad announced Status update of the Memorandum of Understanding ("MOU") between OVH and PCI Engineering (M) Sdn. Bhd. For consistency purposes, the abbreviations and definitions used throughout this announcement is the same as those previously defined in the Company's announcements made on 8 April 2022, 24 May 2022, 30 August 2022, 30 November 2022 and 28 February 2023 respectively in relation to the MOU entered between OVH and PCI Engineering (M) Sdn.

Bhd. to collaborate in forming a business venture to set up a pipeline coating business to serve the domestic market in Malaysia as well as South East Asia, Australia and its related region based on the understanding and commitments as contained in the MOU ("Announcements").