KUALA LUMPUR: Keyfield International Bhd's subsidiary Keyfield Offshore Sdn Bhd is buying a five-year-old platform supply vessel (PSV).
The PSV will be renamed Keyfield Gratitude, said Keyfield in a statement today,.
It added that Gratitude is being acquired from Sinocommerce Harbour Engineering Co Ltd for US$17.6 million (RM79.22 million), which will be funded via its sukuk proceeds.
Keyfield expects to incur about US$2.0 million (RM9.0 million) of its own internal funds for additional capital expenditure to bring Gratitude back to Malaysia and to ready it for operations.
The company said Gratitude will be deployed into its vessel chartering business for its customers to transport materials and equipment between shore and offshore platforms.
Gratitude has an accommodation capacity of 59 persons.
Keyfield group chief executive officer and executive director Datuk Darren Kee said since obtaining its PSV SWEC code and panel contractor contract in November 2022 and April 2024 respectively, the company has been invited to bid for PSV chartering contracts.
"We believe that Gratitude will make an excellent addition to our fleet as it can be utilised to fulfil such invitations to bid.
"Furthermore, it fits well with our business expansion strategy to broaden our service offerings to our customers as outlined in our initial public offering prospectus," he added.
Kee said the company is confident that Gratitude will contribute to Keyfield's earnings for the financial year ending Dec 31, 2025 and beyond.
He added that Gratitude's technical specifications are ideal for both local and regional chartering requirements.