Keyfield to dispose of workboat for RM152mil

PETALING JAYA: Keyfield International Bhd is disposing of a six-year old dynamic positioning 2 accommodation workboat, Keyfield Compassion (CPS), to Petro Laut Sdn Bhd (PLSB) for RM151.9mil.

In a statement, Keyfield group chief executive officer and executive director Datuk Darren Kee Chit Huei said the disposal will enable the group to unlock CPS's value, bringing in a profit after tax of approximately RM85mil.

“While CPS has generated operational profits for Keyfield since 2022 when we acquired her, her disposal comes at an opportune time as we had recently completed the acquisition of Carimin Acacia (now renamed Keyfield Harmony).

“We had also entered into a shipbuilding contract in June 2024 to build a dynamic positioning 2 accommodation workboat (DP2 AWB). Both of these will ensure that we have a continuous supply of suitable DP2 AWBs for us to serve our customers.”

Kee added that Keyfield will be able to redeploy the cash proceeds from the disposal for future fleet expansion plans.

“We also intend to declare part of the disposal gains as dividends to shareholders, in line with our dividend payout trend. The exact amount and date of such dividend will be determined later after the completion of the disposal.”

PLSB is part of Brunei’s Mashhor group, which has over 45 years of experience in providing a comprehensive range of onshore and offshore services, including hydrocarbon facilities, marine operations, transport, logistics and engineering solutions.