DESTINI AR 2017

DESTINI BERHAD Annual Report 2017 2016 2017 MARCH Vanguard receives contract to supply eight Self-Propelled Hyperbaric Lifeboats to UK-based JFD. APRIL Destini Prima Sdn Bhd entered into a Memorandum of Understanding with AMMROC (Advanced Military Maintenance, Repair and Overhaul Centre) L.L.C. to form a strategic alliance for the provision of MRO on aircraft escape systems. JUNE 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 TF Corp Pte Ltd subscribed 60% shares in IMES Marine Safety Systems Limited (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 Destini entered into a Joint Venture Agreement with TH Heavy 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 DSBE and THHE’s wholly-owned subsidiary THHE Fabricators 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 The Group secured a three-year contract extension to provide MRO services and to supply safety and survival relater equipment to the Royal Malaysian Airforce for RM98.20 million. JANUARY THHE Destini Sdn Bhd, a 51:49 joint venture company between 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 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 to the Ministry of Defence for the Malaysian Armed Forces. JUNE Destini Aviation Sdn Bhd 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 Destini Oil Services Sdn Bhd 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 Asia 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 for the marine industry. 9