NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025 (CONT’D) 37. FINANCIAL INSTRUMENTS (CONT’D) 37.5 FAIR VALUE INFORMATION (CONT’D) (b) Fair Value of Financial Instruments Not Carried at Fair Value The fair values, which are for disclosure purposes, have been determined using the following basis:- (i) The fair value of the term loan that carries floating interest rate approximated its carrying amount as it is repriced to market interest rate on or near the reporting date. (ii) The fair values of the Group’s and the Company’s IMTN that carry fixed interest rate are determined by discounting the relevant future contractual cash flows using current market interest rates for similar instruments at the end of the reporting period. The interest rates used to discount the estimated cash flows are as follows:- The Group/The Company 2025 2024 % % IMTN 4.85 - 4.98 4.85 - 4.98 38. 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 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. (c) 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. (d) 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. (e) 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. 242 KEYFIELD INTERNATIONAL BERHAD (Incorporated in Malaysia) | Registration No: 202001038989 (1395310 - M)
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