Keyfield International Bhd is acquiring the giant trailing suction hopper dredger (TSHD) Inai Kenanga for $24.7 million, marking the group’s entry into the dredging industry.
The 2016-built dredger, acquired from Inai Rimba Sdn Bhd, has a hopper capacity of 32,205 cubic meters and was previously deployed for dredging and reclamation works in Malaysia.
Keyfield group Chief Executive Officer and Executive Director, Datuk Darren Kee Chit Huei , said: “With the former owner of Inai Kenanga having entered receivership, we were presented with a unique opportunity to acquire this asset at below market value. Leveraging the strength of our balance sheet, this acquisition will be funded through our internal cash – hence not requiring any borrowings.”
Built in 2016, the Inai Kenanga was – at the time – the largest dredger in Asia and the third-largest in the world.