KUALA LUMPUR: Bursa Malaysia main market-listed marine operations service and solutions provider Avangaad Bhd posted an increase in group revenue to RM32.3 million for the second quarter (Q2) ended June 30, 2025 (FY25) from RM30.6 million, while year-on-year revenue rose to RM62.2 million from RM61.8 million.
The quarter’s standout was a RM66.8 million suite of contracts from Northport (Malaysia) Bhd and other multi-year fast crew boat (FCB) charters – the highest this period.
The group is anchored by significant multi-year charter wins in its marine service vessels group (fast crew boats and tugboats).
Avangaad not only secured near-term revenues but also expanded its long-term service footprint across Malaysia’s key ports.
The stronger Q2 results were driven by higher vessel utilisation and improved charter rates for fast crew boat contracts, further supported by resilient demand across the group’s diversified marine services portfolio.
On a cumulative six-month basis, the group has demonstrated its strength by securing three fast crew boat (FCB) contracts worth RM29.2 million, alongside new contracts totalling RM66.8 million.
These include a two-year extension for three existing harbour tugboats and a new five-year daily charter for three harbour tugboats.
This solid pipeline reflects the group’s proactive approach and proven ability to secure earning opportunities.
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 that reinforce the group’s strategic presence as a trusted partner in both the oil and gas (O&G) and non-O&G segments.
Executive director Datuk Wira Mubarak Hussain Akhtar Husin said the company has been diligently executing its growth plans and sharing its strategies with stakeholders.
“We are currently in Phase 1, focusing on fortifying our position through new and renewed contracts alongside increased fleet utilisation, while tightening cost management to maintain uncompromised operational efficiency.
“As we move into Phase 2, already in progress, we are set to expand and diversify by growing our fleet size and asset types, deepening port presence across Malaysia, and maintaining a balanced earnings mix across O&G, non-O&G, and marine logistics.
“Looking ahead to Phase 3, we will regionalise and modernise 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,” he said.
A record RM437.7 million order book (firm order book of RM177.6 million; additional RM260.1 million optional contract extensions) underscores the confidence clients place in the group’s role as the Marine COP (coordinator, operator, and partner), backed by its unique 4Ps model of Port, People, Product, Platform.
“This quarter, with sustained order book strength, growing core profit, and a defined three-phase growth strategy, Avangaad is well-positioned to deliver sustainable value to shareholders.
“With a blend of renewals and new long-term agreements across both O&G and non-O&G sectors, the Group is building earnings visibility, cash flow stability, and a clear pathway for sustainable growth in the marine logistics industry,” he said.
