SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR (a) On 6 January 2025, Keyfield Offshore, a wholly-owned subsidiary of the Company, entered into a Memorandum of Agreement with Sinocommerce Harbour Engineering Co. Limited to purchase a vessel, which was subsequently renamed as Keyfield Gratitude for a total purchase consideration of USD17,600,000 (equivalent to RM79,220,000). The Group has taken delivery of the vessel on 15 January 2025. (b) On 21 March 2025, the Company incorporated Keyfield Ventures Labuan, a wholly-owned subsidiary of the Company to carry out leasing business, with an issued and paid-up share capital USD20,000 (equivalent to RM88,400), comprising 20,000 ordinary shares of USD1 each. On 13 May 2025, the Company subscribed for an additional 17,980,000 ordinary shares of USD1 each in Keyfield Ventures Labuan by capitalising the amount owing to the Company, amounting to USD17,980,000 (equivalent to RM77,808,000). This resulted in the total issued and paid-up share capital of Keyfield Ventures Labuan increasing to USD18,000,000 (equivalent to RM77,896,400). The equity interest held in Keyfield Ventures Labuan remained unchanged. (c) On 27 March 2025, Keyfield Offshore, a wholly-owned subsidiary of the Company, entered into a Memorandum of Agreement with Saraf Corporation India Pvt. Ltd. to dispose a vessel, namely Keyfield Lestari for a total disposal consideration of USD12,500,000 (equivalent to RM55,400,000). The buyer has taken delivery of the vessel on 5 June 2025. (d) On 15 April 2025, Keyfield Ventures Labuan, a wholly-owned subsidiary of the Company, entered into a Memorandum of Agreement with Taizhou Sanfu Ship Engineering Co., Ltd. to purchase a vessel, which was subsequently renamed as Keyfield Blessing for a total purchase consideration of USD20,550,000 (equivalent to RM90,760,000). The Group has taken delivery of the vessel on 28 April 2025. (e) On 29 August 2025, Keyfield Marine, a wholly-owned subsidiary of the Company, entered into a Memorandum of Agreement with Carimin Acacia Offshore Sdn. Bhd. to purchase a vessel, namely Carimin Acacia which was subsequently renamed as Keyfield Harmony, for a total purchase consideration of RM76,000,000. The Group has taken delivery of the vessel on 23 October 2025. (f) On 14 November 2025, Keyfield Resolute, a wholly-owned subsidiary of the Company, entered into a Memorandum of Agreement with Petro Laut Sdn. Bhd. to dispose a vessel, namely Keyfield Compassion, for a total disposal consideration of USD36,800,000 (equivalent to RM151,900,000). The buyer has taken delivery of the vessel on 20 February 2026. (g) On 18 December 2025, the Company acquired 130 ordinary shares, representing a 65% equity interest in Keyfield Biham FZCO, for a total consideration of AED130,000 (equivalent to RM147,000). In consequent thereof, Keyfield Biham FZCO and its wholly-owned subsidiary, Keyfield Biham LLC, became 65%-owned subsidiary of the Company. The acquisition is part of the Group’s strategic expansion into the Middle East region. (h) On 31 December 2025, the Company received the certificate of registration and share certificate issued by the UAE authorities, confirming the incorporation of a wholly-owned subsidiary, Keyfield Ikhlas FZCO with total registered share capital of AED200,000, comprising 200 ordinary shares of AED1,000 each. As at the end of the reporting period, the Company has not yet made such capital injection, as this can only be effected upon the completion of applicable regulatory post-incorporation administrative procedures. The capital injection is expected to be completed subsequent to the financial year. 149 Annual Report 2025
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