"IEV (an acronym for “Innovative Engineering Ventures”) Holdings Limited offers
a range of integrated engineering solutions to support the offshore oil and gas
industry predominantly in the Asia Pacific region. The Group believes that they
are also one of the leading mobile natural gas providers to the industrial
sector in Indonesia and Vietnam, a business the Group developed since 2005.

We trace the Group’s history to 1986 when the founder, Christopher Do, invented
the “ocean-powered” marine growth control (“MGC”) technology, a simple and
effective green technology to control marine growth on offshore platforms,
which is central to the birth and growth of the Group since its incorporation.

The Group has been involved in projects carried out by some of the major
players, such as Royal Dutch Shell plc, ConocoPhillips Company, Petronas
Carigali Sdn. Bhd., Oil and Natural Gas Corporation Limited, CNOOC Limited, and
Vietnam-Russia Joint Venture in the offshore oil and gas industry.

The Group has operations in Malaysia, Indonesia and Vietnam and sales and
representative agreements with selected agents in Europe, USA, India and China
to promote and market the Group’s MGC products and services. The Group has also
entered into various regional strategic alliance and agency agreements
(including sales representative agreements) with selected business partners and
principals including FoundOcean Ltd, Oil States Industries, Inc., Bluegrass
Offshore & Nuclear Decommissioning Services Ltd, Galvotec Corrosion Services,
LLC and R.S. Clare & Company Limited for the sales and distribution of their
oil and gas engineering products and services."