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Kenanga Research has upgraded Keyfield from a ‘market perform’ call, saying the recent selldown was overdone and that its vessel business should still stay profitable
In the interim, the vessel should remain profit-generative, suggesting manageable earnings pressure in the short term. Nevertheless, Kenanga maintain their forecast (which implies that the new vessel buy will only break even in FY26) and target price of RM1.57 pegged to nine times FY26F PER.
Today I bought 1.38, but such a good company is very weak. Will there be any problems with accounting? I am a little afraid of making fake accounts but also afraid of missing opportunities.
Don't worry, Bursa has been very cautious since the Serba case in 2022. Keyfield was only listed last year, so it should be fine. I also checked with my accountant friend by the way
Keyfield International Bhd - Target price: RM1.57 OUTPERFORM
Keyfield International Bhd (KL:KEYFIELD) has announced the acquisition of a Dynamic Positioning 2 (DP2) vessel from Carimin Petroleum Bhd (KL:CARIMIN) for RM76 million. Given its relatively young age of nine years and DP capability, we view the transaction price as fair, particularly since the asset can potentially yield RM6.5 million per annum based on a 70% utilisation rate and a conservative day charter rate of RM100,000 a day.
Keyfield deals with big oil companies like PETRONAS Carigali, Shell, and so on. But Keyfield isn't the one doing the drilling, they’re more into providing offshore accommodation for the people working out there
just looks at top gloves, boss buying back it own share price above RM 7, but now top gloves trading at what price currently huh, haha don't get duped by share buy back,