Keyfield International Berhad has reached an agreement to extend the timeline for the disposal of its accommodation workboat, Keyfield Compassion (CPS), for USD36.8 million (RM151.9 million).
The offshore vessel provider announced that its wholly-owned subsidiary, Keyfield Resolute Sdn Bhd, signed a second addendum to the Memorandum of Agreement (MOA) with the buyer, Petro Laut Sdn Bhd.
The extension is contingent on the buyer depositing the remaining 90% of the purchase price into an escrow account.
With the extention the new date is extended from February 15 to February 25, 2026. The 90% balance consideration must be deposited by February 23, 2026.
The vessel is now expected to be handed over to Petro Laut by February 25, 2026.
