KUALA LUMPUR: Keyfield International Bhd
’s wholly owned unit, Keyfield Marine Sdn Bhd, will acquire the Carimin Acacia, a nine-year-old Dynamic Positioning 2 Accommodation Workboat (DP2 AWB), for RM76mil cash.
In a statement, Keyfield said the purchase follows a conditional memorandum of agreement with Carimin Acacia Offshore Sdn Bhd, a wholly owned indirect subsidiary of Carimin Petroleum Bhd. The transaction is conditional upon the approval of Carimin’s shareholders at a general meeting.
“This acquisition will strengthen our position as the leading offshore accommodation provider in Malaysia by increasing our capacity and improving the competitive landscape, which is vital for growth in the offshore vessel market.
“It will add one DP2 AWB to our fleet and deepen our footprint into our core business activity, for which the business prospects remain resilient,” group chief executive officer and executive director Datuk Darren Kee said.
“It is expected to augur well for Keyfield’s medium and long-term prospects as we are adding a better-specified vessel which can cater for charter projects which require higher vessel specifications as compared to Keyfield Lestari, which we have recently disposed.
“With the addition of Acacia to our fleet, we will have better economies of scale in terms of vessel scheduling and it can cater for potential business opportunities both locally and internationally,” he added.
Keyfield will fund the RM76mil purchase entirely from the gross proceeds of its Sukuk issuance completed in December 2024.
The acquisition is expected to be earnings-accretive and to positively impact the group’s earnings and net assets for the financial year ending Dec 31, 2026, and beyond, once the vessel is successfully deployed for chartering operations.
