Keyfield International Berhad ("Keyfield") has announced significant developments through its wholly-owned subsidiary, Keyfield Offshore Sdn Bhd ("KOSB").

1. Acceptance of New Contract

On 22 July 2024, KOSB accepted a Letter of Award from Carigali-PTTEPI Operating Company Sdn. Bhd. ("CPOC") for the provision of an Anchor Handling Tug Supply ("AHTS") vessel. This two-year firm charter, with a one-year extension option, is valued at approximately USD10.0 million (RM44.3 million) for the primary period and USD5.0 million (RM22.2 million) for the extension.

2. Acquisition of Secondhand AHTS

KOSB has signed an agreement to acquire a secondhand AHTS vessel, MV Aulia ("Aulia"), for USD7.8 million (RM34.6 million). Delivered in 2021, Aulia features a Dynamic Positioning 1 system and a bollard pull capacity of 60 tonnes. With an accommodation capacity of 42 persons, it has been chartered to customers as a third-party vessel since February 2024. Following the acquisition, Aulia will be integrated into Keyfield's fleet, enhancing operational efficiency and profitability.

Statements from Keyfield Leadership

Dato' Darren Kee, Group CEO and Executive Director of Keyfield, remarked, "The acquisition of Aulia aligns with our expansion strategy outlined in our IPO Prospectus. Having already chartered third-party vessels to meet AHTS demand, the addition of Aulia will allow us to increase our gross profit margins and efficiently meet growing demand."

Kee added, "Aulia's proven track record and successful operations in Malaysia make it a strategic addition to our fleet. This acquisition will enhance our capacity to deliver high-quality AHTS services."