DailySpaceKeyfield International Berhad
5321 · Main Market主板 · annual reports 2024 to 2025, 1408 entries read2024 至 2025 年报，共读出 1408 条
The company这家公司
Keyfield International Berhad is primarily involved in the provision of offshore accommodation through its vessel chartering business, mainly serving the offshore oil and gas industry in Malaysia. The group operates accommodation work boats and in 2024 was appointed one of PETRONAS' panel contractors for accommodation work boats, anchor handling tug supply vessels and platform supply vessels.Keyfield International Berhad 主要通过船只租赁业务提供岸外住宿服务，主要服务于马来西亚的岸外石油与天然气行业。该集团运营住宿工作船，并于 2024 年获委任为 PETRONAS 住宿工作船、抛锚起锚供应船及平台供应船的小组承包商之一。
Source: annual report 2024, pages 23, 35; annual report 2025, page 24.出处：2024 年年报第 23、35 页；2025 年年报第 24 页。
In 2024, revenue from own vessels was RM479.6 million (69.8% of total revenue) and third-party vessels contributed RM207.6 million. In 2025, own vessels generated RM366.5 million (85.1% of total revenue) and third-party vessels contributed RM64.0 million. Malaysia generated RM397.5 million of 2025 revenue, while China contributed RM13.1 million, the Middle East RM10.2 million and Singapore RM9.7 million.2024 年，自有船只营业额为 RM479.6 million（占总营业额 69.8%），第三方船只贡献 RM207.6 million。2025 年，自有船只产生 RM366.5 million（占总营业额 85.1%），第三方船只贡献 RM64.0 million。2025 年马来西亚产生营业额 RM397.5 million，而中国贡献 RM13.1 million、中东贡献 RM10.2 million、新加坡贡献 RM9.7 million。
Source: annual report 2024, page 31; annual report 2025, pages 25, 26, 217.出处：2024 年年报第 31 页；2025 年年报第 25、26、217 页。
In the 2025 report, Lavin Group Sdn. Bhd. held 216,181,818 shares (26.79%), and Kee Chit Huei held 163,200,570 shares (20.22%). Pledged securities accounts for Lavin Group Sdn. Bhd. included 105,000,000 shares (13.01%) under Affin Hwang Nominees (Tempatan) Sdn. Bhd. and 50,000,000 shares (6.19%) under Kenanga Nominees (Tempatan) Sdn. Bhd., while Mohd Erwan Bin Ahmad held 47,590,392 shares (5.90%). One holder is deemed interested by virtue of his interest in Lavin Group Sdn. Bhd., and Dato' Kee is the spouse of Datin Ooi Soo Ping, a substantial shareholder.在 2025 年报中，Lavin Group Sdn. Bhd. 持有 216,181,818 股（26.79%），Kee Chit Huei 持有 163,200,570 股（20.22%）。Lavin Group Sdn. Bhd. 的抵押证券账户包括在 Affin Hwang Nominees (Tempatan) Sdn. Bhd. 名下的 105,000,000 股（13.01%）以及在 Kenanga Nominees (Tempatan) Sdn. Bhd. 名下的 50,000,000 股（6.19%），Mohd Erwan Bin Ahmad 则持有 47,590,392 股（5.90%）。一名持股人因其在 Lavin Group Sdn. Bhd. 的权益而被视为拥有权益，且 Dato' Kee 是主要股东 Datin Ooi Soo Ping 的配偶。
Source: annual report 2025, pages 101, 250, 251.出处：2025 年年报第 101、250、251 页。
On the board, Mohamad Helmi bin Zulkawi resigned on 21 June 2024. Stoyan Radev Ialamov was appointed on 26 March 2025, and Low Chin Kiat was appointed on 31 December 2025.董事会方面，Mohamad Helmi bin Zulkawi 于 2024 年 6 月 21 日辞职。Stoyan Radev Ialamov 于 2025 年 3 月 26 日获委任，Low Chin Kiat 于 2025 年 12 月 31 日获委任。
Source: annual report 2024, page 125; annual report 2025, page 145.出处：2024 年年报第 125 页；2025 年年报第 145 页。
Revenue by destination, 20252025 年按客户所在地区划分的营业额
Source: annual report 2025, page 217.出处：2025 年年报第 217 页。
Major events大事记
Source: annual report 2024, pages 11, 29.出处：2024 年年报第 11、29 页。
Source: annual report 2024, pages 128, 129.出处：2024 年年报第 128、129 页。
Source: annual report 2024, page 129.出处：2024 年年报第 129 页。
Source: annual report 2025, page 13.出处：2025 年年报第 13 页。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
Source: annual report 2025, page 14.出处：2025 年年报第 14 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, liabilities and equity资产、负债与权益
20242024 年
In 2024, operating activities generated net cash of RM301.4 million. The group completed its initial public offering on the Main Market, raising net cash proceeds of RM182.7 million from issuing 208,960,000 shares. The IPO proceeds were fully utilised, including RM65.0 million to settle the balance purchase consideration for Keyfield Wisdom, RM35.0 million for Keyfield Helms 1, RM61.5 million for cash redemption of CRNCPS, RM3.0 million to repay bank borrowings, RM8.6 million for listing expenses, and RM15.0 million for working capital. A further 90,000,000 shares were issued to redeem RM81.0 million of CRNCPS. In December 2024, the group issued RM200.0 million nominal value of Sukuk Wakalah, raising net proceeds of RM196.7 million. Purchase of property, plant and equipment took RM147.4 million, and RM98.1 million, or 64.5% of total capital expenditure, went to acquire Keyfield Amanah, Keyfield Itqan and Keyfield Aulia. The group repaid RM112.6 million to third parties, RM8.8 million of term loans and RM17.2 million of lease liabilities, and paid RM79.3 million in dividends.2024 年，营运活动产生净现金 RM301.4 million。集团在主板完成首次公开募股，通过发行 208,960,000 股募集净现金 RM182.7 million。首次公开募股募集资金已全数动用，包括支付 Keyfield Wisdom 的购买对价余款 RM65.0 million、Keyfield Helms 1 的余款 RM35.0 million、现金赎回不可转换可赎回优先股（CRNCPS）RM61.5 million、偿还银行借款 RM3.0 million、上市开支 RM8.6 million 以及营运资金 RM15.0 million。此外还发行了 90,000,000 股新股以赎回 RM81.0 million 的 CRNCPS。2024 年 12 月，集团发行名义价值 RM200.0 million 的伊斯兰中期票据（Sukuk Wakalah），募集净额 RM196.7 million。购买物业、厂房及设备耗用 RM147.4 million；资本开支中有 RM98.1 million（占总资本开支 64.5%）用于收购 Keyfield Amanah、Keyfield Itqan 及 Keyfield Aulia。集团向第三方偿还 RM112.6 million，偿还定期贷款 RM8.8 million 及租赁负债 RM17.2 million，并派付股息 RM79.3 million。
Source: annual report 2024, pages 29, 32, 33, 34, 123, 142.出处：2024 年年报第 29、32、33、34、123、142 页。
20252025 年
In 2025, operating activities generated net cash of RM235.2 million. Investing activities used net cash of RM255.1 million, including RM314.2 million paid for purchase of property, plant and equipment. The group spent RM243.7 million to acquire Keyfield Gratitude, Keyfield Blessing and Keyfield Harmony, paid RM27.0 million as a progress payment for the newbuild DP2 AWB, and spent RM54.3 million on vessel equipment and dry docking. Proceeds from disposal of property, plant and equipment brought RM54.2 million, which included the sale of Keyfield Lestari for a gain of RM25.7 million. On financing, the group drew down RM27.6 million under a vessel term loan to refinance Keyfield Aulia, and received RM4.3 million from employee share options exercised. Cash outflows included RM72.5 million of dividends paid, RM18.0 million of lease liabilities repaid, RM2.8 million of term loans repaid, and RM2.8 million used to purchase 1,963,000 treasury shares.2025 年，营运活动产生净现金 RM235.2 million。投资活动使用净现金 RM255.1 million，包括支付购买物业、厂房及设备的 RM314.2 million。集团支出 RM243.7 million 收购 Keyfield Gratitude、Keyfield Blessing 和 Keyfield Harmony，支付新造 DP2 住宿工作船进度款 RM27.0 million，并在船只设备与干坞方面支出 RM54.3 million。脱售物业、厂房及设备获得款项 RM54.2 million，其中包括出售 Keyfield Lestari 录得收益 RM25.7 million。融资方面，集团提取 RM27.6 million 船只定期贷款以对 Keyfield Aulia 进行再融资，并因行使员工认股权收到 RM4.3 million。现金流出包括派付股息 RM72.5 million、偿还租赁负债 RM18.0 million、偿还定期贷款 RM2.8 million 以及耗资 RM2.8 million 回购 1,963,000 股库存股。
Source: annual report 2025, pages 16, 28, 29, 30, 142, 169, 170.出处：2025 年年报第 16、28、29、30、142、169、170 页。
Across the two years两年合看
The net proceeds of the RM200.0 million nominal value of Sukuk Wakalah issued in December 2024 remained in cash and cash equivalents at the end of 2024. Total dividend payouts declared were 11.0 sen per share (RM88.3 million) for 2024 and 9.0 sen per share (RM72.6 million) for 2025, alongside a special dividend of 2.0 sen per share (RM16.1 million) declared in February 2026 from the disposal of Keyfield Compassion. Cash and bank balances moved from RM68.5 million at the end of 2023 to RM321.6 million in 2024 and RM234.9 million in 2025.2024 年 12 月发行的名义价值 RM200.0 million 伊斯兰中期票据，其募集净额在 2024 年底仍留在现金及现金等价物中。宣告派发的股息总额在 2024 年为每股 11.0 仙（RM88.3 million），2025 年为每股 9.0 仙（RM72.6 million），另于 2026 年 2 月因出售 Keyfield Compassion 宣告每股 2.0 仙（RM16.1 million）的特别股息。现金与银行结余由 2023 年底的 RM68.5 million 变为 2024 年的 RM321.6 million 与 2025 年的 RM234.9 million。
Source: annual report 2024, pages 18, 19, 33; annual report 2025, page 16.出处：2024 年年报第 18、19、33 页；2025 年年报第 16 页。
Still to be spent尚未支出的承诺
At the end of 2025, capital commitments included RM74.3 million for balance payments on the newbuild DP2 AWB, RM9.4 million authorised but not contracted for vessel equipment, and RM9.1 million contracted for dry docking expenditures. Under the RM1.0 billion Sukuk Wakalah programme, RM800.0 million remained available for future issuances. Subsequent to year end, the group entered into contracts to construct two new vessels at USD18.0 million each (RM70.7 million and RM72.5 million).截至 2025 年底，资本承诺包括新造 DP2 住宿工作船余款 RM74.3 million、已批准但未签约的船只设备 RM9.4 million，以及已签约的干坞支出 RM9.1 million。在 RM1.0 billion 伊斯兰中期票据计划下，尚有 RM800.0 million 额度可供未来发行。年度结束后，集团签订了建造两艘新船的合同，每艘金额为 USD18.0 million（分别为 RM70.7 million 与 RM72.5 million）。
Source: annual report 2025, pages 29, 30, 151, 218.出处：2025 年年报第 29、30、151、218 页。
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2023 | 2024 | 2025 |
|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 430,451 | 687,152 | 430,524 |
| Profit before taxation税前盈利 | 146,522 | 304,245 | 183,748 |
| Profit after taxation税后盈利 | 107,115 | 227,783 | 143,599 |
| Net cash from operating activities营运活动所得现金净额 | 185,130 | 301,370 | 235,162 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (31,572) | (147,407) | (314,246) |
| Dividends paid已付股息 | (5,010) | (79,325) | (72,489) |
| Total assets总资产 | 691,198 | 1,137,592 | 1,182,585 |
| Total liabilities总负债 | 396,806 | 422,647 | 395,051 |
| Total equity总权益 | 294,392 | 714,945 | 787,534 |
| Cash and bank balances现金与银行结余 | 68,540 | 321,590 | 234,927 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| The sale of Keyfield Lestari for USD12.5 million was expected to be completed with vessel delivery by June 2025.出售 Keyfield Lestari（代价 USD12.5 million）预计于 2025 年 6 月前完成船只交付。 | The vessel was delivered to the buyer on 5 June 2025, generating a gain on disposal of RM25.7 million.该船已于 2025 年 6 月 5 日交付予买方，录得脱售收益 RM25.7 million。 Source: annual report 2024, pages 17, 24; annual report 2025, pages 13, 16.出处：2024 年年报第 17、24 页；2025 年年报第 13、16 页。 | Carried out已执行 |
| The group intended to draw down a 5-year vessel financing facility of RM28.0 million in 2025 to refinance the acquisition of Keyfield Aulia.集团计划于 2025 年提取 RM28.0 million 的 5 年期船只融资额度，以对收购 Keyfield Aulia 进行再融资。 | The group drew down RM27.6 million under the 5-year vessel financing facility in 2025 to refinance Keyfield Aulia.集团于 2025 年在该 5 年期船只融资额度下提取了 RM27.6 million，以对 Keyfield Aulia 进行再融资。 Source: annual report 2024, page 34; annual report 2025, pages 29, 170.出处：2024 年年报第 34 页；2025 年年报第 29、170 页。 | Carried out已执行 |
| The board intended to maintain a similar dividend payout ratio for 2025 as the 38.9% recorded in 2024.董事会计划在 2025 年维持与 2024 年 38.9% 相近的股息派发率。 | For 2025, the group declared dividends of 9.0 sen per share (RM72.6 million), representing a payout ratio of 51.0% of PATAMI.2025 年，集团宣告每股派息 9.0 仙（RM72.6 million），占税后净利润（PATAMI）的 51.0%。 Source: annual report 2024, page 38; annual report 2025, page 16.出处：2024 年年报第 38 页；2025 年年报第 16 页。 | Higher payout ratio delivered派息率高于预期 |
| Shipbuilding of the new DP2 accommodation workboat at USD30.5 million was scheduled for completion in 2026.以 USD30.5 million 建造新造 DP2 住宿工作船预定于 2026 年完工。 | The group made progress payments of RM27.0 million (USD6.1 million) in 2025, with completion still scheduled for 2026 and balance commitments of RM74.3 million.集团于 2025 年支付了 RM27.0 million（USD6.1 million）进度款，完工时间仍预定在 2026 年，尚有承诺结余 RM74.3 million。 Source: annual report 2024, pages 16, 34; annual report 2025, pages 29, 30.出处：2024 年年报第 16、34 页；2025 年年报第 29、30 页。 | Still in progress仍在进行中 |
| The group announced agreements to acquire Keyfield Blessing for USD20.55 million and deploy it under a bareboat charter to the Farasan Submarine Cable Project in Saudi Arabia.集团宣布达成协议以 USD20.55 million 收购 Keyfield Blessing，并以光船租赁方式部署于沙特阿拉伯的 Farasan 海底电缆项目。 | The acquisition was completed with delivery on 28 April 2025, and the vessel was deployed to the Middle East.该收购已于 2025 年 4 月 28 日完成交付，船只已部署于中东。 Source: annual report 2024, pages 17, 24; annual report 2025, pages 13, 24.出处：2024 年年报第 17、24 页；2025 年年报第 13、24 页。 | Carried out已执行 |
What the reports leave open年报留下待看的事
- Delivery and chartering of newbuild vessels, including the DP2 accommodation workboat scheduled for completion in 2026 with RM74.3 million in remaining commitments, and two DP2 AHTS vessels, with the three newbuilds expected to be available for charter from 2027 to 2028 onwards.新造船的交付与租赁情况，包括预定 2026 年完工、尚有 RM74.3 million 承诺结余的 DP2 住宿工作船，以及两艘 DP2 抛锚起锚供应船；这三艘新船预计自 2027 至 2028 年起可供租赁。
Source: annual report 2025, pages 30, 33.出处：2025 年年报第 30、33 页。
- Vessel utilisation and daily charter rates, after own vessel utilisation moderated to 63.1% in 2025 from 80.4% in 2024 amid reduced offshore project activity.船只使用率与日租金走势，此前在岸外工程活动减少下，自有船只使用率从 2024 年的 80.4% 回落至 2025 年的 63.1%。
Source: annual report 2025, page 15.出处：2025 年年报第 15 页。
- Progress toward the target of non-oil and gas business contributing up to 20.0% of total revenue, following a strategic expansion that contributed RM33.0 million (7.7% of revenue) in 2025.非油气业务占总营业额高达 20.0% 目标的推进进展；2025 年一项策略性扩展贡献了 RM33.0 million（占营业额 7.7%）。
Source: annual report 2025, pages 16, 34.出处：2025 年年报第 16、34 页。
- Future drawdowns under the RM1.0 billion Sukuk Wakalah programme, which had RM800.0 million available for issuance at the end of 2025.RM1.0 billion 伊斯兰中期票据计划项下的后续发行，截至 2025 年底尚有 RM800.0 million 额度可供发行。
Source: annual report 2025, page 29.出处：2025 年年报第 29 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-02.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-11-02。