Keyfield International Berhad has entered into two agreements with two separate entities to acquire one secondhand and one newbuild Dynamic Positioning 2 (“DP2”) Accommodation Work Boat for a total consideration of US$36.5 million or RM172 million.
The first is for MV Belait Barakah, from Belait Barakah Sdn Bhd, a subsidiary of Brunei-based Belait Shipping Co. (B) Sdn Bhd for a cash consideration of USD6.0 million (equivalent to RM28.3 million). While the second with Shipbuilding Contract with Jingjiang Nanyang Shipbuilding Co. Ltd for the construction of a newbuild DP2 AWB for a contract price of USD30.5 million (equivalent to RM143.7 million) of which the group said will be funded via a combination of internal cash and borrowings.
The newbuild DP2 AWB will have enhanced features such as a larger accommodation capacity of 239 persons, diesel-electric propulsion systems for fuel savings, battery pack(s), larger deck space and higher capacity main crane. Keyfield expects to take delivery of the newbuild DP2 AWB tentatively in 1Q2026 and commence chartering operations in the same year.
Keyfield’s Group Chief Executive Officer and Executive Director, Dato’ Darren Kee said, “We are delighted with the addition of Barakah to our fleet and look forward to our newbuild DP2 AWB, which is in line with our expansion plans as outlined in our IPO Prospectus. The expansion will fortify our market position as one of the leading offshore accommodation providers in Malaysia, boosting the total accommodation capacity made available to our customers.”
