DESTINI BERHAD Registration No. 200301030845 (633265-K) (Incorporated in Malaysia) Head Office: No.10, Jalan Jurunuilai U1/20 Hicom Glenmarie Industrial Park 40150 Shah Alam Selangor Darul Ehsan Malaysia Dear Valued Shareholders of Destini Berhad, Reference is made to the Annual Report 2024 of Destini Berhad which was issued on 30 October 2024. We wish to inform that amendments are made to the information below, to rectify the inadvertent errors: Annual Report 2024 NO SECTION LOCATION CURRENT AMENDMENT 1 Management Discussion and Analysis Page 31 The energy sector recognised a higher LATNCI of RM 23.85 million compared to a profit of RM 3.33 million in the corresponding quarter. This loss was primarily due to impairment of receivables and investments amounting to RMNil. The energy sector recognised a higher LATNCI of RM23.85 million compared to a profit of RM3.33 million in the corresponding quarter. This loss was primarily due to impairment of receivables and investments amounting to RM 24.18 million Page 33 Destini’s marine division saw widened losses with a PATNCI of RM2.04 million in FPE2024, compared to a LATNCI of RM50.18 million in FY2022. This increased loss was primarily due to reduced boat manufacturing and impairment of receivables and investments in associate companies amounting to RM1,91 million. This was on the back of a dip in revenue to RM56.39 million in FPE2024 from RM63.60 million the year before. Destini’s marine division saw a PATNCI of RM2.04 million in FPE2024, compared to a LATNCI of RM50.18 million in FY2022. There were less impairments provided in this financial period 2024 as compared to the huge impairments of receivables and investments in associate companies FY2022. Revenue recognised between the two periods had reduced to RM56.39 million in FPE2024 from RM63.60 million the year before. Following Destini’s strategic exit from the shipbuilding business, the Group’s marine division now focuses on lifeboat manufacturing and commercial marine services. During the year in review, losses from this division were primarily attributed to administrative expenses as the business realigned its operations. Following Destini’s strategic exit from the shipbuilding business, the Group’s marine division now focuses on lifeboat manufacturing and commercial marine services. During the year in review, profit from this division were primarily attributed to lower administrative expenses as the business realigned its operations resulting in better efficiency and impairment was at its minimum. ERRATA TO ANNUAL REPORT 2024
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