  We report the results from a recent 133 ks XMM-Newton observation of a highly
super-Eddington narrow-line Type-1 QSO RX J0439.6-5311. This source has one of
the steepest AGN hard X-ray slopes, in addition to a prominent and smooth soft
X-ray excess. Strong variations are found throughout the 0.3 to 10 keV energy
range on all time-scales covered by the observation, with the soft excess
mainly showing low frequency variations below 0.1 mHz while the hard X-rays
show stronger variability at higher frequencies. We perform a full set of
spectral-timing analysis on the X-ray data, including a simultaneous modelling
of the time-average spectra, frequency-dependent RMS and covariance spectra,
lag-frequency and lag-energy spectra. Especially, we find a significant
time-lag signal in the low frequency band, which indicates that the soft X-rays
lead the hard by $\sim$4 ks, with a broad continuum-like profile in the lag
spectrum. Our analysis strongly supports the model where the soft X-ray excess
is dominated by a separate low temperature, optically thick Comptonisation
component rather than relativistic reflection or a jet. This soft X-ray
emitting region is several tens or hundreds of $R_{g}$ away from the hot corona
emitting hard X-rays, and is probably associated with a geometrically thick
(`puffed-up') inner disc region.
