MAIN Market-listed Avangaad Bhd [formerly E.A. Technique (M) Bhd] has locked in significant multi-year charter wins in its Marine Service Vessels Group (fast crew boats and tugboats) as evident in its 2Q FY2025 financial results ended June 30, 2025.
Now a marine COP (coordinator, operator and partner) player, the group raked in RM66.8 mil of contracts from Northport (M) Bhd in addition to other multi-year fast crew boat (FCB) charters.
Aside from having secured near-term revenues, Avangaad has also expanded its long-term service footprint across Malaysia’s key ports.
For its 2Q FY2025, Avangaad posted a 5.4% % revenue growth to RM32,.27 mil (2Q FY2024: RM30.6 mil) while its 1H FY2025 revenue was flat at RM62.25 mil (1H FY2024: RM 61.81 mil) on the back of higher vessel utilisation and improved charter rates for fast crew boat contracts.
Apart from new contracts totalling RM66.8 mil, the group has secured three fast crew boat (FCB) contracts worth RM29.2 mil during the six-month period.
These include a two-year extension for three existing harbour tugboats and a new five-year daily charter for three harbour tugboats.
The solid pipeline reflects the group’s proactive approach and proven capability in securing earning opportunities. Its disciplined strategy ensures cash flow visibility and underpins growth certainty.
Lucrative order book
Looking ahead, Avangaad’s management is executing a three-phase growth plan to demonstrate its prioritisation in delivering operational efficiencies, cost management and selective contract wins to reinforce the group’s strategic presence as a trusted partner in both the oil & gas (O&G) and non-O&G segments.
“Currently in Phase 1, we’re focusing on fortifying our position through new and renewed contracts alongside increased fleet utilisation while tightening cost management to maintain uncompromised operational efficiency,” revealed Avangaad’s executive director Datuk Wira Mubarak Hussain Akhtar Husin.
“As we move into Phase 2 which is already in progress, we’re set to expand and diversify by growing our fleet size and asset types, deepening port presence across Malaysia, and maintaining balanced earnings mix across O&G, non-O&G and marine logistics.”
Added Mubarak: “Moving forward, we shall regionalise and modernise under Phase 3 by entering selected ASEAN markets through both existing and new strategic partnerships.
“We also anticipate growth through fleet modernisation. This positions Avangaad as a key industry player in leading the transformation of marine sector, delivering integrated and sustainable solutions while advancing a clear decarbonisation transition plan.”
Thus far, a record RM437.7 mil order book (firm order: RM177.6 mil, optional contract extensions: RM260.1 mil) underscores the confidence clients place in the group’s role as the Marine COP backed by its unique 4Ps business model of “Port, People, Product, Platform”.
“With a blend of renewals and new long-term agreements across both O&G and non-O&G sectors, Avangaad is building earnings visibility, cash flow stability and a clear pathway for sustainable growth in the marine logistics industry,” added Mubarak.
At the close of today’s (Aug 19) market trading, Avangaad was unchanged at 29 sen with 3.61 million shares traded, thus valuing the company at RM385 mil. – Aug 19, 2025
