MMAG acquires third freighter for US$25.9 million
The aircraft, currently leased to the group's air freight business, MJets Air Sdn Bhd, will be acquired for US$25.9 million (RM109 million). This acquisition marks MAC's third freighter under ownership, complementing the group's existing fleet of four leased aircraft and bringing MMAG's total operating fleet to seven.
Two earlier aircraft acquisitions from JPA No. 161 Co Ltd were signed in December 2024 and January 2025, signalling MMAG's phased transition towards greater asset control and internalisation of key fleet infrastructure.
MMAG foresees that Malaysia's aviation and logistics outlook will continue to strengthen.
According to the Finance Ministry's Economic Outlook 2025, Malaysia's gross domestic product is expected to grow 4.5% to 5.5% this year, driven by rising global trade and private sector expansion.
National air cargo throughput surpassed 1.02 million tonnes in 2024, with 4.96% growth expected this year.
Meanwhile, the local e-commerce market, valued at RM36.03 billion in 2024, is projected to grow by 17.76%, fuelling sustained demand for regional air freight services.
Amid this upward trend, MMAG is showing clear signs of financial recovery.
For the six-month financial period ended March 31, 2025, the aviation segment recorded a profit before tax (PBT) of RM25.64 million, reversing losses in preceding quarters.
At the group level, MMAG returned to profitability with a cumulative PBT of RM33.19 million, driven by increased revenue across its mobile and fulfilment segments, stronger aviation performance, and the onboarding of strategic new contracts.
'This acquisition reflects more than just another aircraft in our fleet – it represents our strategic intent to evolve into a fully empowered aviation operator,' MAC chairman Woo Kam Weng said.
'With greater control over our assets, we're strengthening our ability to respond swiftly to market needs, optimise internal fleet utilisation, and explore new revenue channels. It's a deliberate step towards long-term resilience and sustainable growth in a competitive logistics landscape.':
Subject to shareholders' approval, the acquisition will be completed via a structured cash payment arrangement, allowing for phased instalments over a 14-month period, followed by a final settlement upon transfer of ownership. This staged approach ensures optimal cash flow management while securing long-term access to a valuable aviation asset.
Notably, this freighter – manufactured in 2005 – is significantly younger compared to MMAG's two previously acquired freighters, which were over 30 years old at the time of purchase.
The newer asset strengthens the group's overall fleet profile, offering improved reliability, residual value and operational efficiency over the long term.
MMAG's growing fleet, under its ownership, reflects a broader strategy to reduce dependency on third-party lessors, gain fleet deployment agility and strengthen financial resilience through asset ownership.
The group's aviation strategy is further anchored by MAC's integrated platform, which includes airfreight (MJets Air), cargo terminal operations (XCT Aviation), on-demand warehousing solutions (SkyVault Cargo) and transhipment logistics (Oceanic Transhipment Hub).
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