SINGAPORE Exchange Regulation (SGX Regco) appeared to have read the market’s mind – or misgivings – with its spot-on queries to Rex International Holding on its recent diversification moves.

Although the mainboard-listed company responded to these queries in some detail, Rex is unlikely to erase market doubts quickly enough.

Rex owns oil exploration and production assets in Norway and Oman. The company was listed on the junior Catalist board until March last year, when it ascended to SGX’s mainboard.