Keyfield Invests RM172mil in 2 Accommodation Workboat (AWB)
$KEYFIELD(5321.MY$ wholly-owned subsidiary, Keyfield Offshore Sdn Bhd (KOSB), has planned to purchase 2 AWB one secondhand and one new build. The secondhand AWB, MV Belait Barakah would be acquired from Belait Barakah Sdn Bhd, a subsidiary of Brunei-based Belait Shipping Co (B) Sdn Bhd, for RM28.3mil.
The new build for RM143.7mil would be in cooperation with China’s Jingjiang Nanyang Shipbuilding Co Ltd and Nantong Shenyang Trade and Development Co Ltd. The group expects the delivery and the chartering operation to be in the 1Q of 2026.
Source: Marine Insight
Info of Keyfield Offshore Sdn Bhd (KOSB):
Date/Place incorporation: 14 April 2013
Principle place of business: Malaysia
Principle activities: Vessel ownership, chartering of an offshore support vessel, provision of catering services to passengers on board the vessel, ship management, trading of marine equipment, and other marine-related activities
Date/Place incorporation: 14 April 2013
Principle place of business: Malaysia
Principle activities: Vessel ownership, chartering of an offshore support vessel, provision of catering services to passengers on board the vessel, ship management, trading of marine equipment, and other marine-related activities
Previous Activities:
Keyfield was successfully listed on Bursa Malaysia on 22 April 2024. Based on the prospectus, there’s more than 50% of the raised capital for the settlement of balance purchase consideration vessels, which are Blooming Wisdom and Helms 1 respectively. Furthermore, there are many vessels owned by KOSB such as Daya Ceria, IMS Aman, Kindness, Lestari, LSI, and LS2.
Keyfield was successfully listed on Bursa Malaysia on 22 April 2024. Based on the prospectus, there’s more than 50% of the raised capital for the settlement of balance purchase consideration vessels, which are Blooming Wisdom and Helms 1 respectively. Furthermore, there are many vessels owned by KOSB such as Daya Ceria, IMS Aman, Kindness, Lestari, LSI, and LS2.
Source: The Star
Personal Opinion:
-Keyfield is one of the offshore support vessel companies that includes all ships, boats, or barges that are specially designed to perform specific offshore operational activities for the upstream oil and gas industry is an advantage to generating sustainable profit.
-Keyfield has surged more than 100% from its IPO price, with an opening price of RM1.73 during the listing day, however, the current trend can be seen as a driving momentum from the continuous business expansion.
-As compared to other offshore fleets, Keyfield has stronger financial fundamentals (can refer to its IPO prospectus for the details).
-The purchase of 2 AWB will further enhance its core business, which may further translate it into a lower value of PER, a higher value of gearing ratio, etc.
-Keyfield is one of the offshore support vessel companies that includes all ships, boats, or barges that are specially designed to perform specific offshore operational activities for the upstream oil and gas industry is an advantage to generating sustainable profit.
-Keyfield has surged more than 100% from its IPO price, with an opening price of RM1.73 during the listing day, however, the current trend can be seen as a driving momentum from the continuous business expansion.
-As compared to other offshore fleets, Keyfield has stronger financial fundamentals (can refer to its IPO prospectus for the details).
-The purchase of 2 AWB will further enhance its core business, which may further translate it into a lower value of PER, a higher value of gearing ratio, etc.
Source: The Economic Times
Disclaimer: The above content is not an investment advisory service, and does not purport to tell or suggest which securities or stocks customers should buy or sell for themselves. It should not be assumed that the methods, techniques, or indicators presented above will be profitable or will not result in losses. You should not rely solely on the information in making any investment. Rather, you should use the information only as a starting point for doing additional independent research to allow you to form your own opinion regarding investments.
By: Jshen Ng
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
🪙Postgraduate Civil-Geotechnics background
🪙Exploring new horizons in investment
🪙Sharing investment insights
30Followers
10Following
107Visitors
Follow