Avangaad posts stronger Q2 results, details three-phase growth plan

Malaysian marine services provider Avangaad has announced another quarter of growth, anchored by significant multi-year charter wins for its fast crew boats and tugboats. The company's group revenue for the second quarter ended June 30, 2025, increased to MYR32.3 million ($7.6 million) from MYR30.6 million in the previous corresponding period.

The stronger results were driven by higher vessel utilisation and improved charter rates. The standout for the quarter was a MYR66.8 million suite of contracts from Northport (Malaysia) and other multi-year fast crew boat charters.

On a cumulative six-month basis, the group secured three fast crew boat contracts worth MYR29.2 million, alongside the new contracts totaling MYR66.8 million, which included a two-year extension for three harbour tugboats and a new five-year charter for three more.

Datuk Wira Mubarak Hussain Akhtar Husin, Executive Director of Avangaad, outlined a three-phase growth plan. The first phase focuses on fortifying the company's position through new contracts and increased fleet utilisation. The second phase, which is already in progress, aims to expand and diversify the fleet size and asset types. The third phase will see the company regionalise by entering selected ASEAN markets and modernising its fleet.

The company's total order book has now reached MYR437.7 million, which includes a firm order book of MYR177.6 million and an additional MYR260.1 million in optional contract extensions.