Koh Brothers Eco Engineering Limited (Catalist:5HV) is exploring the possibility of spinning off its majority-owned indirect subsidiary Oiltek Sdn. Bhd. and listing it on either the Catalist board of the Singapore Exchange (SGX), or on Bursa Malaysia's ACE Market. Koh Brothers Eco Engineering's shareholding in Oiltek is about 80%. Oiltek's wholly-owned subsidiary Oiltek Nova Bioenergy Sdn Bhd will also be spun off for the proposed listing. SGX has advised that it has no objection to the proposed spin-off, subject to certain conditions. These include disclosing to shareholders the basis for the board's assessment that the proposed spin-off and listing would bring about benefits to shareholders, and getting shareholders to approve the proposed spin-off at an extraordinary general meeting. The group cautioned shareholders that the proposed spin-off is at a preliminary stage and the company has not formally appointed any professional advisers, save for the legal advisers to the company, for it. The counter closed at SGD 0.05 on January 23, 2020, down 0.2 cent or 3.85%.