DESTINI Annual Report 2020

APRIL 2015 Destini acquired Land Auto Technology Sdn Bhd, which is in the business of motor vehicle, motor accessories and spare part trading and distributorship. JUNE 2015 • Destini acquired an 80% stake in Safeair Technical Sdn Bhd (“SAT”), a company that provides Line Maintenance services for commercial airlines in local airports. • Destini Aviation Sdn Bhd (“DASB”) entered into a joint venture agreement with UK- based Avia Technique Limited to establish a new joint venture company called Destini Avia Technique Sdn Bhd (“DAT”). DAT was incorporated to carry on the provision of inspection, repair and overhaul services for commercial air craft components. SEPTEMBER 2015 Destini acquired the remaining 49% stake it did not own in Vanguard, making the lifeboat maker a wholly-owned subsidiary of the Group. DECEMBER 2015 The Group acquired Destini Shipbuilding & Engineering Sdn Bhd (“DSBE”) to enable it to fabricate six 44.25-meter New Generation Patrol Craft (“NGPC”) worth RM381.30 million for the Malaysian Maritime Enforcement Agency (“MMEA”). MARCH 2016 Vanguard receives contract to supply eight Self- Propelled Hyberbaric Lifeboats to UK-based JFD APRIL 2016 Destini Prima Sdn Bhd (“DPSB”) entered into a Memorandum of Understanding with Advanced Military Maintenance, Repair and Overhaul Centre (“AMMROC”) L.L.C. to form a strategic alliance for the provision of MRO on aircraft escape systems. JUNE 2016 SERT accepted its first rail related award from the Ministry of Transport for the design, manufacture, supply, delivery, testing and commissioning of new motor trolley and road rail vehicle for Keretapi Tanah Melayu Berhad (“KTMB”) worth RM62 million. SEPTEMBER 2016 TF Corp Pte Ltd subscribed 60% shares in IMES Marine Safety Systems Limited, the company currently known as Destini Marine Safety Solutions Ltd. The company is principally in the business of inspection, testing, repair and maintenance of marine safety systems such as lifeboats and its components. OCTOBER 2016 Destini entered into a JointVentureAgreementwith THHeavy Engineering Berhad (“THHE”) to establish an unincorporated joint venture to procure the award for the supply, delivery, testing and commissioning of three 80-meter Offshore Patrol Vessels (“OPV”) for the MMEA. NOVEMBER 2016 DSBEandTHHE’swholly-ownedsubsidiaryTHHEFabricators Sdn Bhd formed an incorporated joint venture company, Gigih Integrasi Sdn Bhd to undertake the fabrication of the three OPV’s. Gigih Integrasi Sdn Bhd is now known as THHE Destini Sdn Bhd. DECEMBER 2016 The Group secured a three-year contract extension to provide MRO services and to supply safety and survival related equipment to the Royal Malaysian Airforce for RM98.20 million. JANUARY 2017 THHEDestiniSdnBhd, a51:49 jointventurecompanybetween THHE and Destini secured a contract worth RM738.9 million for the supply, delivery, testing and commissioning of three OPV’s for the MMEA. FEBRUARY 2017 Destini acquired 70% stake in safety and security equipment company, Halaman Optima Sdn Bhd, for RM5.5 million to enable the Group to supply six reconnaissance helicopters worth RM321.9 million by the MinDef for the Malaysian Armed Forces. 07 ANNUAL REPORT 2020 DESTINI BERHAD