DESTINI Annual Report 2020

MARCH 1991 Satang Jaya Sdn Bhd (“Satang Jaya”) commenced operations as an aviation tools and spare parts supplier. MAY 1998 Satang Jaya was awarded the contract to provide MRO services for RMAF’s safety and survival equipment under Ministry of Defence Malaysia’s (“MinDef”) Royal Malaysia Airforce (”RMAF”) Contractorisation Programme. DECEMBER 2005 Satang Jaya entered Bursa Malaysia Securities Berhad (“Bursa Securities”), under the name Satang Jaya Holdings Berhad and subsequently changed its name to Satang Holdings Berhad (Satang Holdings) in April 2007. MAY 2008 Satang Holdings triggered the prescribed criteria pursuant to Practice Note 17 (PN17) of the Main Market Listing Requirements of Bursa Securities. JULY 2009 Satang Holdings shares were suspended from trading by Bursa Securities on July 13. SEPTEMBER 2011 As part of its regularization plan, Satang Holdings changed its name to Destini Berhad to reflect a synergized and aligned business direction. The name change is also part of a turnaround plan for the Group to strengthen its financial muscles while exploring new business ventures. FEBRUARY 2012 Destini acquired a 50% stake in automotive supply and service company System Enhancement Resources & Technologies Sdn Bhd (“SERT”). AUGUST 2012 The suspension of trading in Destini’s shares was uplifted by Bursa Securities on August 13 after its regularization plan was approved. DECEMBER 2012 Destini acquired a 51% stake in Singapore-based Vanguard Composite Engineering Pte Ltd (currently known as Vanguarde Pte Ltd), a company that manufactures lifeboats, fast rescue boats, davit systems and host of other safety equipment for the marine and oil and gas industries. Destini’s Corporate Diary MARCH 2013 Completed the purchase of oil and gas service provider Samudra Oil Services Sdn Bhd, now known as Destini Oil Services Sdn Bhd (“DOS”) for RM80 million. APRIL 2013 • Destini acquired theTechnoFibreGroup towholly-owned Techno Fibre Australia Pte Ltd, Techno Fibre Middle East Marine Services FZE, Technofibre International Sdn Bhd, now known as Armada Delmar Sdn Bhd and Techno Fibre (S) Pte Ltd. The Techno Fibre Group is in the business of lifeboat and davit maintenance. • After completing its regularization plan and achieving profits for two consecutive quarters, Destini was uplifted from PN17 status. AUGUST 2013 The Group acquired its own building in Glenmarie Industrial Park, Shah Alam to house its corporate office and workshop facility. AUGUST 2014 Destini acquired a 50% stake in Detrac Sdn Bhd (“Detrac”) to become the research and development arm of the Group. Subsequently, the Group increased its shareholding in Detrac to 70% in November 2014. 06 ANNUAL REPORT 2020 DESTINI BERHAD