Last updated on August 23, 2025
KUALA LUMPUR: Keyfield International Bhd reported a net profit of RM66.36 million for the second quarter ended June 30, 2025 (2Q FY2025), down 5.2% from RM70.04 million a year earlier, due mainly to fewer chartered days for both its own and third-party vessels.
Revenue slid 33.7% to RM131.97 million from RM198.98 million in the same quarter last year.
“The decline in vessel revenue was primarily driven by a lower number of chartered days, translating to a utilisation rate of 74.6% in 2Q FY2025 versus 96.9% in 2Q FY2024. Total chartered days for own vessels fell 6.0% to 912 days from 970 days,” the company said in a Bursa Malaysia filing today.
Despite this, Keyfield noted that chartering projects commenced for its two newly acquired vessels—Keyfield Gratitude and Keyfield Blessing—in January and April 2025, respectively. These contributions helped offset some of the impact from the reduced utilisation of existing vessels, several of which underwent maintenance after operating nearly continuously in prior quarters.
For the first half of FY2025, net profit stood at RM87.04 million compared with RM100.34 million in the same period last year, while revenue dropped to RM218.72 million from RM305.37 million.
Looking ahead, Keyfield plans to diversify its vessel fleet to cater to multiple industries, while maintaining its primary focus on the oil and gas sector in the short to medium term.
“We aim to expand our expertise across various maritime segments, leveraging our strong balance sheet to identify additional suitable vessels for growth. Fleet renewal will be a priority, focusing on vessels with higher capabilities and broader customer appeal. Our strategy will balance long-term growth ambitions with measures to address near-term operational and business risks,” it added.
The group’s outstanding order book stands at RM377.4 million, comprising RM179.1 million for FY2025 and the remainder for future years, representing unrecognised revenue from secured chartering contracts.
Keyfield also declared a second interim dividend of 3.0 sen per share, bringing the year-to-date payout to 4.0 sen per share. The dividend will be paid on Sept 22, 2025.
Source: Bernama
