DESTINI Annual Report 2020

APRIL 2019 • Destini Rail Sdn Bhd incorporated a new wholly-owned subsidiary, DLP Rail Sdn Bhd as part of a plan to expand its future service offerings to include total engineering solutions and services, civil works, rolling stock, project and asset management and maintenance services for rail and track transportations projects in Malaysia. • DAT entered into an aircraft safety equipment maintenance support agreement with Malindo Airways Sdn Bhd and Thai Lion Mentari Co Ltd, to supply, test, repair, and carry out overhaul activities on aircraft safety equipment. The agreement’s tenure is three years with an option to extend for another two years. MAY 2019 Destini Rail Sdn Bhd entered into a Joint Venture and Shareholders Agreement with Lion Pacific Sdn Bhd, and SVPR Consulting Services Sdn Bhd in respect of DLP Rail Sdn Bhd to draw upon the skills, expertise, experience and capabilities of each other in undertaking the business of rail related projects in Malaysia and the region which among others, include engineering solutions and services, civil works, rolling stock, system and track works, asset management and maintenance services for rail projects. JULY 2019 DOS received a letter or award from Petrofac (Malaysia- PM304) Limited for the provision of tubular handling equipment and running services. OCTOBER 2019 DOS was awarded PAN Malaysia Umbrella Contract for the Provision of Integrated Well Services for Intervention, Workover and Abandonment for PACs from PCSB. The contract runs on a call-out basis through the issuance of work orders and would expire in 2024 unless it is extended. DECEMBER 2019 DPSB secured RM50.18 million contract from MinDef for the extension of the existing contract to provide MRO services and the supply of the safety and survival equipment to the RMAF. The tenure of the contract was one year starting October 2019 to October 2020. Destini’s Corporate Diary APRIL 2020 DOS received a letter of award for the provision of tubular equipment and services for JX Nippon Oil & Gas Exploration (Malaysia Limited’s (“NIPPON”) drilling campaign. The tenure of the contract is four years with one-year extension option. JULY 2020 • Destini Engineering Technologies Sdn Bhd (“DET”) was awarded a contract from Wira Syukur (M) Sdn Bhd to provide mechanical and electrical systems for the commercial development of GrenePark Village in Semenyih for a sum of RM17.39 million. • DPSB was awarded a contract from MinDef to supply non-proprietary aircrafts parts for the RMAF. It will allow DPSB together with 29 other local companies identified by MinDef to participate in parcels of bidding should RMAF require any non-proprietary aircraft parts. The contract has a combined ceiling of approximately RM121 million. DECEMBER 2020 DPSB received a letter of award from MinDef for the extension of the existing contract to provide MRO services and the supply of safety and survival equipment for the RMAF for RM30.37 million 09 ANNUAL REPORT 2020 DESTINI BERHAD