DESTINI Annual Report 2018

APRIL • Destini acquired the Techno Fibre Group to wholly-owned Techno Fibre Australia Pte Ltd, Techno Fibre Middle East Marine Services FZE, Technofibre International 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 • The Group acquired its own building in Glenmarie Industrial Park, Shah Alam to house its corporate office and workshop facility. 2014 AUGUST • Destini acquired a 50% stake in DetracSdnBhd (“Detrac”) tobecome the research and development arm of the Group. Subsequently, the Group increased its shareholding in Detrac to 70% in November 2014. 2015 APRIL • Destini acquired Land Auto Technology Sdn Bhd, which is in the business of motor vehicle, motor accessories and spare part trading and distributorship. JUNE • Destini acquired an 80% stake in Safeair Technical Sdn. Bhd. (“SAT”) a company that provides Line Maintenance services for civil 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 civil air craft components. SEPTEMBER • Destini acquired the remaining 49% stake it did not own in Vanguard, making the lifeboat maker a wholly- owned subsidiary of the Group. DECEMBER • 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”). DESTINI BERHAD ANNUAL REPORT 2018 7