DESTINI’S CORPORATE DIARY 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 Detrac Sdn Bhd (“Detrac”) to become the research and development arm of the Group. Subsequently, theGroup 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 • D estini acquired an 80% stake in Safeair Technical Sdn Bhd (“SAT”), a company that provides Line Maintenance services for commercial airlines in local airports. • D estini 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 commercial 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”). 2016 MARCH Vanguard receives contract to supply eight Self- Propelled Hyberbaric Lifeboats to UK- based JFD. APRIL Destini Prima Sdn Bhd (“DPSB”) entered into a Memorandum of Understanding with Advanced Military Maintenance, Repair and Overhaul Centre (“AMMROC”) L.L.C. to form a strategic alliance for the provision of MRO on aircraft escape systems. JUNE SERT accepted its first rail related award from the Ministry of Transport for the design, manufacture, supply, delivery, testing and commissioning of new motor trolley and road rail vehicle for Keretapi Tanah Melayu Berhad (“KTMB”) worth RM62 million. SEPTEMBER TF Corp Pte Ltd subscribed 60% shares in IMES Marine Safety Systems Limited, the company currently known as Destini Marine Safety Solutions Ltd. The company is principally in the business of inspection, testing, repair and maintenance of marine safety systems such as lifeboats and its components. OCTOBER Destini entered into a Joint Venture Agreement with TH Heavy Engineering Berhad (“THHE”) to establish an unincorporated joint venture to procure the award for the supply, delivery, testing and commissioning of three 80-meter Offshore Patrol Vessels (“OPV”) for the MMEA. 06 DESTINI BERHAD • ANNUAL REPORT 2021
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