Keyfield's net profit falls 5.2% to RM66.36mil in 2Q
The provider of accommodation vessels and related onboard services said revenue also fell by 33.7 per cent to RM131.97 million from RM198.98 million previously.
"The decrease in revenue for our vessels was mainly due to the lower number of chartered days in 2Q FY2025, representing a 74.6 per cent utilisation rate for our vessels during this period compared to 96.9 per cent in 2Q FY2024.
"The total number of chartered days for own vessels decreased by 6.0 per cent in 2Q FY2025 to 912 days (2Q FY2024: 970),' it said in a filing with Bursa Malaysia today.
Meanwhile, Keyfield said that in 2Q FY2025, the group began chartering projects for Keyfield Gratitude and Keyfield Blessing, its two own vessels acquired in January 2025 and April 2025, respectively.
"Contributions from our newly acquired vessels lessened the impact of the lower utilisation rate of existing vessels, some of which needed to undergo maintenance after working almost non-stop in previous quarters,' the company said.
For the first six months of the year, Keyfield reported a lower net profit of RM87.04 million compared with RM100.34 million a year earlier, while revenue decreased to RM218.72 million against RM305.37 million previously.
Moving forward, Keyfield said it plans to diversify its fleet of vessels to be able to serve different industries although the primary focus will remain the oil and gas industry for the short to medium term.
"We will continue to build expertise in various maritime sectors, leveraging our strong balance sheet to be on the lookout for additional suitable vessels to support our business growth.
"We intend to achieve fleet renewal, focusing on vessels with higher capabilities and deployable to a wider range of customers. We will balance our pursuit of long-term growth with the necessary actions to address near-term business and operational risk factors,' it said.
Its remaining order book is RM377.4 million, of which RM179.1 million is in respect of FY2025 and the balance in future financial years, consisting of the balance revenue yet to be recognised in respect of secured chartering contracts.
Keyfield also declared a second interim dividend of 3.0 sen per share today, bringing the cumulative dividend for the year to date to 4.0 sen per share. The dividend is payable on Sept 22, 2025. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
3 hours ago
- Free Malaysia Today
Bursa takes a breather despite positive Q2 GDP data
KUALA LUMPUR : Bursa Malaysia took a breather today, mirroring the subdued performance of regional markets, despite positive sentiment following the release of Malaysia's second quarter 2025 (Q2 2025) gross domestic product (GDP) data. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said market sentiment was steady following the release of Malaysia's Q2 2025 GDP data, which expanded 4.4% year-on-year, aligning with the company's forecast range of 4.3% to 4.5% and only marginally below the advance estimate of 4.5%. 'The outcome defied earlier expectations that April's reciprocal tariffs, announced by US president Donald Trump, coupled with prolonged US trade policy uncertainty, would prompt a more pronounced slowdown as businesses adopted a wait-and-see stance. 'With policy direction from Washington now clearer, we believe the worst of the trade-related drag has passed, allowing growth to remain supported in the near-term,' he told Bernama. In today's session, banking stocks led gains among the FTSE Bursa Malaysia KLCI (FBM KLCI) constituents. 'The sector is often viewed as a proxy for economic momentum, and with GDP data broadly meeting market expectations, investors rotated into financials on the belief that a resilient macro backdrop will support sustained credit demand and earnings visibility. 'This sectoral strength helped offset weakness in selected commodity-linked and export-oriented counters, which remain sensitive to shifts in global trade sentiment,' he added. Externally, Sedek noted that immediate market attention is shifting to Trump's meeting with Russian president Vladimir Putin in Alaska later today, coinciding with the release of US retail sales data. 'While headline risk from the geopolitical front may generate intraday volatility in late US trading, market beta is more likely to respond decisively at Monday's opening,' he said. At 5pm, the FBM KLCI eased 4.71 points, or 0.30%, to close at 1,576.34 from yesterday's close of 1,581.05. The benchmark index opened 0.70 of-a-point firmer at 1,581.75, and moved between 1,571.19 and 1,581.79 throughout the day. The broader market was negative, with decliners leading advancers 488 to 449, while 497 counters were unchanged, 1,138 untraded and seven suspended. Turnover declined to 2.01 billion units worth RM2.03 billion from 2.40 billion units worth RM2.66 billion yesterday. Among the heavyweights, CIMB added 5 sen to RM7.25, Maybank eased 4 sen to RM9.80, Tenaga Nasional went down 6 sen to RM13.62, IHH Healthcare declined 8 sen to RM6.82, while Public Bank was flat at RM4.45. Of the most active counters, Tanco perked up 1 sen to 73 sen, Oxford Innotech went up 3.5 sen to 44.5 sen, Zetrix AI inched down 0.5 sen to 89.5 sen, Bina Puri was 1.5 sen lower at 35 sen, and TWL was flat at 2.5 sen. Across the broader market, the FBM Emas Index fell 29.86 points to 11,731.06, the FBMT 100 Index slipped 30.86 points to 11,512.86, the FBM Emas Shariah Index slumped 53.60 points to 11,654.85, the FBM 70 Index sank 29.25 points to 16,660.68, while the FBM ACE Index jumped 46.91 points to 4,713.45. By sector, the financial services index increased 29.54 points to 18,080.07, the plantation index slipped 77.62 points to 7,504.03, the industrial products and services index eased 1.22 points to 157.72, while the energy index perked up 1.34 points to 740.83. The Main Market volume declined to 1.17 billion units valued at RM1.82 billion from yesterday's 1.33 billion units valued at RM2.42 billion. Warrants turnover dwindled to 474.97 million units worth RM66.97 million from 683.46 million units worth RM100.19 million previously. The ACE Market volume decreased to 359 million units worth RM135.16 million from 391.12 million units worth RM142.13 million yesterday. Consumer products and services counters accounted for 217.46 million shares traded on the Main Market; industrial products and services (143.74 million), construction (102.71 million), technology (138.34 million), financial services (63.09 million), property (185.03 million), plantation (25.07 million), REITs (37.19 million), closed-end fund (1,100), energy (85.52 million), healthcare (77.37 million), telecommunications and media (25.44 million), transportation and logistics (38.10 million), utilities (32.27 million), and business trusts (3,500).
The Star
4 hours ago
- The Star
Bursa Malaysia takes a breather despite positive market sentiment
KUALA LUMPUR: Bursa Malaysia took a breather on Friday, mirroring the subdued performance of regional markets, despite positive sentiment following the release of Malaysia's second-quarter 2025 (2Q 2025) gross domestic product (GDP) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.71 points, or 0.30 per cent, to close at 1,576.34 from yesterday's close of 1,581.05. The benchmark index opened 0.70 of-a-point firmer at 1,581.75, and moved between 1,571.19 and 1,581.79 throughout the day. The broader market was negative, with decliners leading advancers 488 to 449, while 497 counters were unchanged, 1,138 untraded and seven suspended. Turnover declined to 2.01 billion units worth RM2.03 billion from 2.40 billion units worth RM2.66 billion yesterday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said market sentiment was steady following the release of Malaysia's 2Q 2025 GDP data, which expanded 4.4 per cent year-on-year, aligning with the company's forecast range of 4.30 to 4.50 per cent and only marginally below the advance estimate of 4.5 per cent. "The outcome defied earlier expectations that April's reciprocal tariffs, announced by United States (US) President Donald Trump, coupled with prolonged US trade policy uncertainty, would prompt a more pronounced slowdown as businesses adopted a wait-and-see stance. "With policy direction from Washington now clearer, we believe the worst of the trade-related drag has passed, allowing growth to remain supported in the near term,' he told Bernama. In today's session, banking stocks led gains among the FBM KLCI constituents. "The sector is often viewed as a proxy for economic momentum, and with GDP data broadly meeting market expectations, investors rotated into financials on the belief that a resilient macro backdrop will support sustained credit demand and earnings visibility. "This sectoral strength helped offset weakness in selected commodity-linked and export-oriented counters, which remain sensitive to shifts in global trade sentiment,' he added. Externally, Mohd Sedek noted that immediate market attention is shifting to Trump's meeting with Russian President Vladimir Putin in Alaska later today, coinciding with the release of US retail sales data. "While headline risk from the geopolitical front may generate intraday volatility in late US trading, market beta is more likely to respond decisively at Monday's opening,' he said. Among the heavyweights, CIMB added 5.0 sen to RM7.25, Maybank eased 4.0 sen to RM9.80, Tenaga Nasional went down 6.0 sen to RM13.62, IHH Healthcare declined 8.0 sen to RM6.82, while Public Bank was flat at RM4.45. Of the most active counters, Tanco perked up 1.0 sen to 73 sen, Oxford Innotech went up 3.5 sen to 44.5 sen, Zetrix AI inched down half-a-sen to 89.5 sen, Bina Puri was 1.5 sen lower at 35 sen, and TWL was flat at 2.5 sen. Across the broader market, the FBM Emas Index fell 29.86 points to 11,731.06, the FBMT 100 Index slipped 30.86 points to 11,512.86, the FBM Emas Shariah Index slumped 53.60 points to 11,654.85, the FBM 70 Index sank 29.25 points to 16,660.68, while the FBM ACE Index jumped 46.91 points to 4,713.45. By sector, the Financial Services Index increased 29.54 points to 18,080.07, the Plantation Index slipped 77.62 points to 7,504.03, the Industrial Products and Services Index eased 1.22 points to 157.72, while the Energy Index perked up 1.34 points to 740.83. The Main Market volume declined to 1.17 billion units valued at RM1.82 billion from Thursday's 1.33 billion units valued at RM2.42 billion. Warrants turnover dwindled to 474.97 million units worth RM66.97 million from 683.46 million units worth RM100.19 million previously. The ACE Market volume decreased to 359.0 million units worth RM135.16 million from 391.12 million units worth RM142.13 million yesterday. Consumer products and services counters accounted for 217.46 million shares traded on the Main Market; industrial products and services (143.74 million), construction (102.71 million), technology (138.34 million), financial services (63.09 million), property (185.03 million), plantation (25.07 million), REITs (37.19 million), closed-end fund (1,100), energy (85.52 million), healthcare (77.37 million), telecommunications and media (25.44 million), transportation and logistics (38.10 million), utilities (32.27 million), and business trusts (3,500). - Bernama
New Straits Times
4 hours ago
- New Straits Times
Bursa Malaysia takes a breather despite positive market sentiment
KUALA LUMPUR: Bursa Malaysia took a breather on Friday, mirroring the subdued performance of regional markets, despite positive sentiment following the release of Malaysia's second-quarter 2025 (2Q 2025) gross domestic product (GDP) data. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.71 points, or 0.30 per cent, to close at 1,576.34 from yesterday's close of 1,581.05. The benchmark index opened 0.70 of-a-point firmer at 1,581.75, and moved between 1,571.19 and 1,581.79 throughout the day. The broader market was negative, with decliners leading advancers 488 to 449, while 497 counters were unchanged, 1,138 untraded and seven suspended. Turnover declined to 2.01 billion units worth RM2.03 billion from 2.40 billion units worth RM2.66 billion yesterday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said market sentiment was steady following the release of Malaysia's 2Q 2025 GDP data, which expanded 4.4 per cent year-on-year, aligning with the company's forecast range of 4.30 to 4.50 per cent and only marginally below the advance estimate of 4.5 per cent. "The outcome defied earlier expectations that April's reciprocal tariffs, announced by United States (US) President Donald Trump, coupled with prolonged US trade policy uncertainty, would prompt a more pronounced slowdown as businesses adopted a wait-and-see stance. "With policy direction from Washington now clearer, we believe the worst of the trade-related drag has passed, allowing growth to remain supported in the near term," he told Bernama. In today's session, banking stocks led gains among the FBM KLCI constituents. "The sector is often viewed as a proxy for economic momentum, and with GDP data broadly meeting market expectations, investors rotated into financials on the belief that a resilient macro backdrop will support sustained credit demand and earnings visibility. "This sectoral strength helped offset weakness in selected commodity-linked and export-oriented counters, which remain sensitive to shifts in global trade sentiment," he added. Externally, Mohd Sedek noted that immediate market attention is shifting to Trump's meeting with Russian President Vladimir Putin in Alaska later today, coinciding with the release of US retail sales data. "While headline risk from the geopolitical front may generate intraday volatility in late US trading, market beta is more likely to respond decisively at Monday's opening," he said. Among the heavyweights, CIMB added 5.0 sen to RM7.25, Maybank eased 4.0 sen to RM9.80, Tenaga Nasional went down 6.0 sen to RM13.62, IHH Healthcare declined 8.0 sen to RM6.82, while Public Bank was flat at RM4.45. Of the most active counters, Tanco perked up 1.0 sen to 73 sen, Oxford Innotech went up 3.5 sen to 44.5 sen, Zetrix AI inched down half-a-sen to 89.5 sen, Bina Puri was 1.5 sen lower at 35 sen, and TWL was flat at 2.5 sen.
