DESTINI Annual Report 2020

JUNE 2017 DASB entered into a Joint Venture and Shareholders Agreement with Sapura Aero Sdn Bhd to incorporate a Joint Venture Company that is to be in the business of rotary wing and fixed aircraft sale, supply and provision of MRO in relation to aircraft and helicopters and the provision of programs such as wet leasing and dry leasing of aircraft. NOVEMBER 2017 • DOS and Federal International (2000) Ltd, a company listed on the Mainboard of the Singapore Exchange, formed a joint venture to collectively bid for oil and gas projects in the South Asian and South-East Asia Region. • Destini Armada Pte Ltd acquired 70% stake in AMS Marine Pte. Ltd, a Singapore-based company that is in the business of design, fabrication and servicing of heat exchangers, fabrication, installation and erection of piping and steelworks and non-destructive testing to the marine and oil and gas industry. APRIL 2018 • Destini Engineering Technologies Sdn Bhd (“DETSB”) inked an MOU with Felcra Berhad to provide MRO services for industrial facilities and equipment for the agriculture and related industries within Malaysia and the ASEAN region. • DOS was awarded a two-year umbrella contract by PETRONAS Carigali Sdn Bhd (“PCSB”) for the provision of well abandonment integrated services. • DPSB accepted an award from the MinDef for an additional RM138 million to an existing contract to provide MRO services and the supply of safety and survival equipment for the RMAF. MAY 2018 DOS was awarded a US$8 million (RM31.76 million) contract to be Pakistan-based Lyallpur Oil Tool Pvt Ltd’s technical partner for tubular running services in Pakistan. JUNE 2018 Destini incorporated a new wholly-owned Destini Empire Properties Sdn Bhd which is in the business of acquiring lands and property. JULY 2018 The Group received a conditional work order for the provision of well abandonment integrated services for Pulai B platform, off the coast of Terengganu. This came under the two-year umbrella contract by PCSB for the provision of well abandonment integrated services that Destini received in April. AUGUST 2018 DOS received an award from POSCO Daewoo Corporation for the provision of tubular running services in Myanmar for US$5.2 million (RM21.17 million) DECEMBER 2018 DOS was awarded the provision of tubular handling, conductor installation and slot recovery equipment and service for the Pan Malaysia Petroleum Arrangement Contractors (PAC) Operators Drilling Program by PCSB. JANUARY 2019 • DPSB received a letter of extension from the Ministry of Home Affairs, to provide MRO services, technical assistance and supply of spares related to safety and survival equipment, ground support and mechanical equipment, electronic equipment, airborne multisensory system and flight operations system for the Royal Malaysia Police Air Wing for a period of three years until November 2021 for RM10 million. • DOS received a letter of award for the provision of tubular running services for exploration and appraisal and infill drilling campaign at the lower part of Gulf of Thailand near the South China Sea for Carigali-PTTEPI Operating Company Sdn Bhd. The tenure of the contract is two years with one-year extension option. MARCH 2019 DOS was awarded the provision for tubular handling, conductor installation and slot recovery equipment and services for PAC Operators’ Drilling Program for Sarawak Shell Berhad. The total value of the contract awarded depends on the work orders to be issued. Destini’s Corporate Diary 08 ANNUAL REPORT 2020 DESTINI BERHAD