KUALA LUMPUR (July 29): Keyfield International Bhd (KL:KEYFIELD) said it will contest a lawsuit by a Dubai-based shipbroker over alleged unpaid brokerage commissions and remuneration related to the sale of one of its vessels.

The group said MVS Marine Services FZCO is claiming US$1.84 million, representing an alleged 5% commission, from its wholly owned subsidiary Keyfield Resolute Sdn Bhd (KRSB) and Keyfield group CEO Datuk Kee Chit Huei.

The shipbroker is also seeking US$1.10 million, equivalent to an alleged 3% commission, from the vessel's buyer Petro Laut Sdn Bhd, according to the group's Bursa Malaysia filing on Wednesday.

Alternatively, the shipbroker is seeking a remuneration of US$2.94 million (RM12.24 million) on a quantum meruit basis, as well as general damages, interest and legal costs. The suit has been fixed for case management on Aug 18.

The vessel, Keyfield Compassion, was delivered to Petro Laut, which is part of Brunei's Mashhor Group, on Feb 20.

Keyfield said no brokerage agreement had been signed between MVS and KRSB for the sale of the Keyfield Compassion.

The group said MV's claim is "frivolous and vexatious", noting that the shipbroker is also pursuing claims involving the sale of another vessel that does not concern Keyfield, KRSB or any other entity within the Keyfield group.

On Wednesday, shares of Keyfield closed down one sen or 0.67% at RM1.49, giving the group a market capitalisation of RM1.21 billion.