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Property developer Tanco Holdings Bhd (KL:TANCO) said it has teamed up with China Civil Engineering Construction Corp (CCECC) to explore engineering, procurement and construction works and financing opportunities for transportation infrastructure projects in Malaysia.
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.
