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Keyfield Reports Record Earnings for 3QFY2024, Declares Four Sen Dividend

Key Takeaway: Keyfield International Bhd achieved record earnings and revenue for 3QFY2024, driven by high vessel utilisation rates and an increase in owned vessels. Recently listed oil and gas services firm Keyfield International Bhd reported its highest-ever quarterly earnings, with net profit rising 77.18% year-on-year to RM81.12 million for 3QFY2024. This growth was fueled by a 45.54% increase in revenue to RM216.79 million, boosted by high utilisation rates of 99.2% across its fleet of 12 vessels. Earnings per share for the quarter increased to 10.11 sen , and the company declared a four sen interim dividend , bringing the total payout for the year to eight sen per share, with a payout ratio exceeding the targeted 20%. Keyfield’s order book stands at RM450 million , with RM150 million allocated to the remainder of 2024. Looking ahead, the company expects a tight supply of offshore vessels , which may benefit its continued expansion in offshore projects. Since its IPO at 90 se
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RED Start 2016

REDDISH START FOR FBMKLCI

Forget the champagne, the Christmas tree, the gifts, the holidays....2016 kickstart and FBMKLCI brings Malaysian back to reality....39.14 points dropped. That's a 2.31% decline from where we were on 31st December 2015. 

Of course, Malaysians will be relief that we are not the only one....most likely, no other countries take it worse than China did....Shanghai Shenzhen CSI 300 Index fell 7% to trigger the "circuit breaker" on the very first day that the trading suspension mechanism came into effect.

Here's a summary for the day:

A total of 1.92 billion shares, worth RM1.734 billion, were done for the whole trading session.

The top losing counter was British American Tobacco Malaysia Bhd, while the top gainer was United Plantations Bhd.

The most actively-traded stock of the day was Instacom Group Bhd, with a trading volume of 85.77 million shares. 

 So what do you think? Will this red and bear period be a short one or a longer one? Many cites China as the benchmark....let's wait and see how the market in US will perform on the first day of 2016...
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