The 170,000,000 shares were allotted and issued to Chuan Hup Holdings Limited ("CHH") pursuant to completion of the Sale and Purchase Agreement dated 14 February 2005 (as supplemented), entered into between CHH and Scomi Marine Bhd (formerly known as Habib Corporation Berhad)("SMB").
Mr Peh Kwee Chim has a deemed interest in the 170,000,000 shares in SMB by virtue of Section 6A of the Companies Act, 1965 as he holds 19.13% of the issued share capital of CHH.