NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 (CONT’D) 5. INVESTMENTS IN SUBSIDIARIES (CONT’D) The details of the subsidiaries are as follows:- Name of Subsidiary Principal Place of Business and Country of Incorporation Effective of Percentage of Issued Share Capital Held Principal Activities 2025 2024 Subsidiaries of the Company Keyfield Biham Marine FZCO (formerly known as Biham Marine FZCO) (“Keyfield Biham FZCO”) ^ United Arab Emirates 65% - Vessel chartering, ship management and other marine related activities. Keyfield Ikhlas FZCO * United Arab Emirates 100% - Vessel chartering and other marine related activities. Subsidiary of Keyfield Biham FZCO Keyfield Biham Marine - L.L.C - S.P.C (“Keyfield Biham LLC”) * United Arab Emirates 65% - Vessel chartering, ship management and other marine related activities. Notes:- ^ - The financial information of this subsidiary incorporated in the consolidated financial statements has been prepared based on the latest available unaudited financial statements, pending finalisation of the statutory audit by a member firm of Crowe Global of which Crowe Malaysia PLT is a member. * - Not required to be audited under the laws of the country of incorporation. (a) 2025 (i) On 24 November 2025, Keyfield Offshore, a wholly-owned subsidiary of the Company, undertook a reduction of its issued and paid-up share capital from RM170,564,500 comprising 174,150,000 ordinary shares to RM10,000,000 comprising 10,210,214 ordinary shares pursuant to Section 117 of the Companies Act 2016. The credit arising from the reduction amounting to RM160,564,500 will be distributed to the Company, of which RM100,564,500 was received during the financial year and the remaining RM60,000,000 is due to be distributed on 1 July 2027, as disclosed in Note 13(b) to the financial statements. Keyfield Offshore remains a wholly-owned subsidiary of the Company subsequent to the share capital reduction. 178 KEYFIELD INTERNATIONAL BERHAD (Incorporated in Malaysia) | Registration No: 202001038989 (1395310 - M)
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