Avangaad Bhd
MMYX:AVANGAAD0.30
MYR
0.00
(0.00%)
Avangaad Bhd
MYX:AVANGAAD
(Bursa Malaysia)
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0.30
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div
yld
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ROIC.AI
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- Business
- Avangaad Berhad is an investment holding company that operates as an integrated marine transportation, offshore storage, and maritime logistics service provider. The company operates through three principal business segments: Marine Transportation and Offshore Storage, Port Marine Services, and Marine Engineering and Shipyard Services. Avangaad Berhad offers a diverse suite of maritime solutions, which include marine transportation of refined clean petroleum products via clean product tankers; offshore storage solutions through the chartering, operation, and maintenance of Floating Storage and Offloading (FSO) and Floating Storage Units (FSU) for upstream oil and gas production platforms; port marine support services utilizing a dedicated fleet of harbor tugboats, mooring vessels, fast crew boats, and Emergency Standby Vessels (ESV) for towing, pilotage, berthing assistance, and emergency response operations; and marine engineering and shipyard operations, which encompass shipbuilding, vessel conversions, dry-docking repairs, routine maintenance, structural fabrication, and engineering consultancy services through its wholly owned subsidiary, Johor Shipyard and Engineering Sdn. Bhd. The company primarily serves state-owned oil corporations, international oil and gas majors, trading houses, petrochemical manufacturers, and commercial port authorities operating within Malaysia and across regional waters. Incorporated in 1993 and headquartered in Kuala Lumpur, Malaysia, the company was formerly known as E.A. Technique (M) Berhad. In recent corporate developments, the company officially rebranded to Avangaad Berhad in February 2025 following its successful exit and upliftment from Practice Note 17 (PN17) distressed status on Bursa Malaysia. The turnaround was anchored by the completion of a comprehensive regularisation plan involving debt restructuring, a RM79.6 million capital injection, and the introduction of a new controlling shareholder, Voultier Sdn. Bhd. Furthermore, Avangaad Berhad has recently reinforced its operational order book through significant multi-year contract renewals and new awards, including charter extensions for tugboats and emergency standby vessels with PETRONAS Floating LNG 1 (L) Ltd and extended port marine service contracts with Northport (Malaysia) Bhd, alongside an ongoing strategic transition toward expanding its broader non-oil-and-gas maritime logistics portfolio.