Latest news with #Avangaad
The Sun
5 days ago
- Business
- The Sun
Avangaad unlocks RM44.5m to drive strategic growth
KUALA LUMPUR: Bursa Malaysia Main Market-listed marine operations service and solutions provider Avangaad Bhd has completed the sale of its floating storage and offloading (FSO) vessel for US$10.5 million (approximately RM44.5 million), realising an immediate gain of RM29.4 million. The divestment delivers RM44.5 million in cash proceeds, which will be strategically redeployed into higher-yielding, longer-tenured assets in line with Avangaad's long-term growth strategy. This move also provides greater financial flexibility to strengthen the group's capacity for sustaining a balanced fleet and expanding service offerings across both oil and gas (O&G) and non-O&G markets. Executive director Datuk Wira Mubarak Hussain Akhtar Husin described the transaction as a move to 'create optionality' for the group. 'We are monetising this asset at the right time to ensure Avangaad remains agile and well-capitalised. In asset strategy, success lies in aligning capability with contract tenure. Our fleet includes vessels capable of securing decade-long commitments, each contributing to long-term portfolio optimisation,' he said. Datuk Wira Mubarak added that the proceeds act as a natural hedge, enhancing the group's resilience to cyclical market changes while positioning it to capture opportunities that improve earnings visibility. 'The capital unlocked further strengthens our agility and decisiveness, setting a clear course to redefine integrated maritime solutions in the region,' he said. The next capital deployment is currently under review. The gain from this sale underscores Avangaad's stable operational cash flow and its readiness to pursue expanded charter contract opportunities.
The Star
5 days ago
- Business
- The Star
Avangaad divests RM45mil FSO
Avangaad Bhd executive director Datuk Mubarak Hussain Akhtar Husin. PETALING JAYA: Avangaad Bhd has finalised the sale of its floating storage and offloading (FSO) vessel for US$10.5mil (equivalent to RM44.5mil), which will deliver an immediate gain of RM29.4mil. In a filing with Bursa Malaysia, the company said it had entered into a memorandum of agreement with MTC Energy Sdn Bhd for the sale of the vessel. The engineering services company said the proceeds will be strategically redeployed into higher-yielding and longer-tenured assets, in line with Avangaad's long-term strategy, while providing additional headroom for financial flexibility. 'The transaction is expected to strengthen the group's financial capacity to sustain a broad, balanced fleet and expand its service offerings across oil and gas (O&G) and non-O&G markets.' Executive director Datuk Mubarak Hussain Akhtar Husin said the transaction is about 'creating optionality.' 'We are monetising this asset at the right time to ensure Avangaad stays agile and well-capitalised. In asset strategy, success lies in aligning capability with contract tenure.'
Focus Malaysia
6 days ago
- Business
- Focus Malaysia
Avangaad divests RM44.5m FSO asset to re-allocate capital for next-phase investments -
MAIN Market-listed marine operations service and solutions provider Avangaad Bhd [formerly E.A. Technique (M) Bhd] has finalised the sale of its floating storage and offloading (FSO) vessel for a US$10.5 mil (RM44.5 mil) to deliver an immediate gain of RM29.4 mil. At any rate, the latest divestment unlocks RM44.5 mil in immediate cash flow to the group which is now more precisely identified as a marine COP (coordinator, operator and partner). The proceeds will be strategically re-deployed into higher-yielding and longer-tenured assets in line with Avangaad's long-term strategy while providing additional headroom for financial flexibility. For starter, the transaction is expected to strengthen the group's financial capacity to sustain a broad, balanced fleet and to expand its service offerings across oil & gas (O&G) and non-O&G markets. 'This transaction is about creating optionality. We are monetising this asset at the right time to ensure Avangaad stays agile and well-capitalised. In asset strategy, success lies in aligning capability with contract tenure,' commented Avangaad's executive director Datuk Wira Mubarak Hussain Akhtar Husin. 'The group's fleet also comprises vessel types capable of securing decade-long commitments, each contributing uniquely to the group's long-term portfolio optimisation.' Moreover, the proceeds would serve as a natural hedge to strengthen Avangaad's agility in navigating cyclical market changes. 'They position us to pursue opportunities that could enhance our earnings visibility and also preserve our balanced mix between O&G and marine logistics,' envisages Mubarak. 'As the group's newly appointed management, we take pride in sharpening our industry differentiator by positioning Avangaad as the Marine COP through our 4P model: Port, People, Product, and Platform.' He added: 'This defines us not merely as asset owners but as the coordinator, operator and partner delivering end-to-end marine solutions. The capital unlocked today further fortifies our agility and decisiveness, thus setting a clear course to redefine integrated maritime solutions in the region.' While the next capital deployment is under consideration, the latest gain re-affirms Avangaad's stable operational cash flow by providing strategic capacity to pursue expanded charter contract opportunities. At the close of today's (Aug 13) market trading, Avangaad was up 1 sen or 3.51% to 29.5 sen with 9.59 million shares traded, thus valuing the company at RM391 mil. – Aug 13, 2025
Barnama
6 days ago
- Business
- Barnama
Avangaad Signs Agreement To Sell FSO Vessel For US$10.5 Mln
KUALA LUMPUR, Aug 13 (Bernama) -- Avangaad Bhd has signed a memorandum of agreement to sell its floating storage and offloading (FSO) vessel, FOIS Nautica Tembikai, to MTC Energy Sdn Bhd for US$10.5 million (RM44.5 million). In a Bursa Malaysia filing, Avangaad said the divestment unlocks RM44.5 million in immediate cash flow, and the proceeds will be strategically redeployed into higher-yielding and longer-tenured assets, in line with Avangaad's long-term strategy, while providing additional headroom for financial flexibility. 'The transaction is expected to strengthen the group's financial capacity to sustain a broad, balanced fleet and expand its service offerings across oil and gas (O&G) and non-O&G markets.
The Star
6 days ago
- Business
- The Star
Avangaad sells vessel for RM44.5mil, to book RM29.4mil gain
Avangaad Bhd executive director Datuk Mubarak Hussain Akhtar Husin PETALING JAYA: Avangaad Bhd has finalised the sale of its floating storage and offloading vessel for US$10.5mil (equivalent to RM44.5mil), which will deliver an immediate gain of RM29.4mil. In a filing with Bursa Malaysia, the company said it had entered into a memorandum of agreement with MTC Energy Sdn Bhd for the sale of the vessel. The engineering services company said the proceeds will be strategically redeployed into higher-yielding and longer-tenured assets, in line with Avangaad's long-term strategy, while providing additional headroom for financial flexibility. 'The transaction is expected to strengthen the group's financial capacity to sustain a broad, balanced fleet and expand its service offerings across oil and gas (O&G) and non-O&G markets.' Executive director Datuk Mubarak Hussain Akhtar Husin said the transaction is about 'creating optionality.' 'We are monetising this asset at the right time to ensure Avangaad stays agile and well-capitalised. In asset strategy, success lies in aligning capability with contract tenure. 'The group's fleet also comprises vessel types capable of securing decade-long commitments, each contributing uniquely to the group's long-term portfolio optimisation.'
