BREAKING NEWS: Keyfield buys mega TSHD for $24.7M

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.