DESTINI Annual Report 2019

CHAIRMAN AND PRESIDENT & GROUP CHIEF EXECUTIVE OFFICER STATEMENT Despite the uncertainties, Destini will remain focused on strengthening its solid foundation and competitive strength for business growth. 03 PERFORMANCE Moving forward, the Group foresee another challenging year ahead from the loom of a pandemic which started at the end of 2019 that will catch us off guard as the curtain rises for 2020. The uncertain global economic environment which has shown uncertainties will continue to reshape the landscape of the industries that Destini operates in. The Group remains vigilant in finding new opportunities to strive forward by recalibrating the capabilities it has in its core businesses. The Group also took proactive steps into assuring operational proficiencies that could fortify the profitability of its businesses such as an internal restructuring of its capabilities and a series of cost reductions. As mentioned in the previous year, we have placed several strategies to ensure the Group remains profitable, and from recent events Destini has weigh its risks and tweaked these strategies to ensure that its short-term and long-term plans are still in place and achievable. Leaning towards having strength in its diversity, the Group will carry on its business integration efforts across all its business segments by not only leveraging on each subsidiary’s operational capabilities but also human capital, financial strength and resources. At the same time, the Group will maintain its focus on managing costs and working capital, conserving free cash to retain our competitiveness whilst continuing to seek out new business opportunities which are synergistic to our current businesses. As a responsible corporate identity, it is also our strategy to remain centered on the values of integrity, accountability and corporate responsibility. Destini is also committed to embracing sustainable best practices across our organization. This enables us to support the long-term growth of the Group and ensure that we make a positive impact in relevant areas. Operating in a responsible manner and consistently stepping up the efforts to minimise our environmental footprint is a priority for the Group. Our structured approach focuses on the key areas of enhancing energy efficiency, reducing operational harmful emission and improving our waste management practices. In line with our sustainability practices, Destini maintains that its talents are its greatest assets. The Group is driven by a workforce that has been the foundation of its accomplishments and strong reputation that it has today in the aviation, marine, land systems and oil and gas industries. Our workforce will always remain instrumental in fostering stronger relationships with various stakeholders and business partners throughout the years. Appreciation In one of the most challenging year for Destini, we would like to say thank you firstly to our employees who have once again, been a key driving force in Destini’s continued growth. The Board and Management appreciates the diligence and professionalism exemplified by our workforce. They are truly our greatest asset. We look forward to your continued contributions in elevating the Group to greater heights. We would like to record our sincere appreciation to our shareholders, stakeholders, customers and the Malaysian Government for the unwavering trust that they have placed in us. We are also deeply grateful to our colleagues on the Board for their wise counsel and guidance as we navigate through the crests and troughs of the industry. On behalf of the Board of Directors of Destini, we would like to express our heartfelt appreciation to Dato’ Megat Fairouz Junaidi Bin Tan Sri Megat Junid, for his contributions throughout his tenure on our Board. Dato’ Megat who was the Company’s Independent and Non-Executive Director and also Chairman of the Audit Committee has left the Group in May 2019 to pursue other interest. DESTINI BERHAD 036