DESTINI Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS 8. Investment in Joint Ventures Group 2019 2018 RM RM In Malaysia: At Cost Unquoted shares 1,296,771 1,296,771 Less: Share of post acquisition reserve (1,296,771) (1,112,031) - 184,740 Name of company Country of Incorporation Effective equity interest Principal activities 2019 2018 % % Destini Avia Technique Sdn. Bhd. (“DATSB”) Malaysia 50 50 Specialise in maintenance, repair and overhaul for aircraft components and equipment catered to commercial aviation sector Invation Aero Sdn Bhd. (“IASB”)* Malaysia 50 50 Sale of rotary wing and fixed wing aircraft, supply and provision of maintenance, repair and overhaul services and other related services Federal Destini (S) Pte. Ltd. (“FDSPT”)* Singapore 50 50 Drilling and related services, well intervention services, offshore greenfield development and decommissioning services in the South Asia and South-East Asia region * Joint ventures not audited by UHY There are no commitment nor contingent liabilities relating to the Group’s interest in the joint ventures. Details of the joint ventures are as follows: FINANCIAL STATEMENTS 06 ANNUAL REPORT 2019 149