KUALA LUMPUR (Nov 4): Third-party logistics services provider AGX Group Bhd (KL:AGX) said its Vietnam-based subsidiary has secured a contract to provide aviation-related services for Vietjet Aviation Joint Stock Company (Vietjet Air).
In a bourse filing on Tuesday (Nov 4), the company said AGX Logistics (Viet Nam) Co Ltd had signed a freight forwarding and customers brokerage service agreement with the airline on Nov 1.
Under the two-year agreement, AGX Vietnam will handle freight forwarding and customs brokerage services for the airline’s operations on a continuous basis for shipments classified as “aircraft on ground”.
The agreement runs from Nov 1, 2025, to Oct 31, 2027, and is renewable for another year upon written notice from VietJet.
No contract value was provided in AGX Group's announcement, as the total value of the contract depends on the number of shipments handled. These will be billed according to rates and fees mutually agreed upon by both parties.
“This milestone not only strengthens our position in Vietnam but also highlights AGX’s growing footprint in Asean’s high-growth aviation markets,” said AGX Group group CEO Datuk Ponnudorai Periasamy in a separate statement.
He added, “We remain committed to leveraging our regional network and capabilities to capture new opportunities while driving long-term shareholder value.”
Last month, AGX Group’s subsidiary had also entered into two service agreements with another Vietnamese airline, Sun PhuQuoc Airways.
AGX Group shares closed half a sen or 1.1% higher at 45.5 sen on Tuesday, giving the group a market value of about RM195 million. The group was listed in February 2024 at an initial public offering price of 35 sen a share.