PERFORMANCE 2. Segmental Analysis AVIATION & DEFENCE ■ Destini’s aviation and defence division recorded a decrease in revenue to RM60.71 million in FPE2024 from RM83.52 million the year before. This division slipped into a Loss After Tax and Non-Controlling Interest (LATNCI) of RM21.68 million from a LATNCI of RM1.86 million in FY2022. ■ The increased loss in FPE2024 was primarily due to impairment of trade receivables amounting to RM24.53million. ■ Despite challenges, Destini’s aviation sector secured two new contracts from MINDEF amounting to RM37.79 million, demonstrating continued trust in our capabilities. ■ Destini’s aviation business experienced moderate growth in air traffic and government spending, indicating a gradual recovery in the sector. ■ Destini strengthened its position in the industry by being appointed as a Key Industrial Partner in Asia, opening up new opportunities for growth and collaboration. ■ In a strategic move, Destini made the decision to dispose of a 45% equity stake in a 50:50 joint venture company, aiming to streamline operations and focus on core competencies. MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) 30 DESTINI BERHAD ANNUAL REPORT 2024
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