Latest news with #AvangaadBhd
Focus Malaysia
15 hours ago
- Business
- Focus Malaysia
Avangaad anchors 2Q FY2025 growth on long-term contracts; charter fleet at sustained high utilisation
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
The Sun
6 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
6 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
7 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
7 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.
