DESTINI AR 2017

• Oil and gas slipped into the red as LATNCI was recorded at RM15.04 million on a turnover of RM24.34 million in FY2017. The year before, the Group saw PATNCI of RM4.95 million on turnover of RM37.35 million. • The Group’s oil and gas losses were from a continued dampened industry that was unable to provide lucrative contracts for the Group to maintain its oil and gas profitability. • Destini has renewed hopes seeing optimism in the industry. With that, it has partnered with an international counterpart to explore new opportunities in floating production systems for greenfield developments. • Simultaneously the partnership enables the Group to tap into existing brownfields with its transportation and installation services and downhole and well workover services. • Destini has developed new capabilities in the decommissioning, well intervention and other related activities and has ventured into new growth areas such as Vietnam, India, Myanmar, UAE and Pakistan. These developments are expected to yield positive results in the coming years. 44 DESTINI BERHAD OIL & GAS by President and Group Chief Executive Officer Management Discussion and Analysis RM24.34 mil REVENUE RM15.04 mil LATNCI