DESTINI AR 2017

7 DESTINI BERHAD Annual Report 2017 2008 2009 2011 2012 MAY Due to financial woes, Satang Holdings triggered the prescribed criteria pursuant to Practice Note 17 (PN17) of the Main Market Listing Requirements of Bursa Securities. JULY Satang Holdings shares were suspended from trading by Bursa Securities on 13 July. SEPTEMBER As part of its regularisation plan, Satang Holdings changed its name to Destini Berhad to reflect a synergised 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. AUGUST The suspension of trading in Destini’s shares was uplifted by Bursa Securities on August 13 after its regularisation plan was approved. DECEMBER 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 a host of other safety equipment for the marine and oil and gas industries. FEBRUARY Destini acquired a 50% stake in automotive supply and service company System Enhancement Resources & Technologies Sdn Bhd (SERT).