Avangaad bags RM66.9mil contracts for tugboat services

KUALA LUMPUR: Avangaad Bhd, formerly known as EA Technique Bhd, has secured a total of RM66.8mil in new contracts from Northport (Malaysia) Bhd, contributing to revenue growth in its port and tugboat operations.

The Main Market-listed marine transport and offshore storage specialist - which was removed from Practice Note 17 (PN17) status in February 2025 - has been actively advancing growth avenues in the non-oil and gas (O&G) segments.

In a statement, Avangaad said it has secured a new contract valued at RM47.8mil to provide daily charter services for three units of 50-tonne Bollard Pull Z-Peller harbour tugboats, following its successful tender bid for the tugboat services.

The five-year contract includes an optional five-year extension, which the group said potentially secures up to a decade of recurring revenue and showcasing Avangaad Group’s long-term earnings visibility and order book strength.

Additionally, Avangaad has secured a two-year extension for its three existing 40-tonne Z-Peller harbour tugboats for RM18.9mil.

Executive director Datuk Wira Mubarak Hussain Akhtar Husin said these contract awards are a clear and robust endorsement of Avangaad’s proven capability in delivering consistently high standards of service and reliability in marine operations. 

"While we continue to maintain a presence in offshore storage, the newly secured contracts emphasise our expansion into non-O&G sectors. More importantly, they reiterate our potential to penetrate broader

market segments and grow our base of recurring income," he added.