PERFORMANCE MOBILITY ■ During the period in review, Destini’s mobility division secured two major contracts from the Ministry of Transport (MOT) for Level 4 MRO on KTMB’s train assets, valued at RM695 million. ■ In FPE2024, Destini commenced providing Level 4 MRO services to KTMB, representing the highest level of MRO for trains. This service strengthens Destini’s capabilities in the industry and underscores our commitment to ensuring the safety and reliability of train operations. ■ Level 4 MRO for train sets is a critical exercise required based on a train’s operational time or kilometres in service. This comprehensive maintenance ensures the continued safety and reliability of train sets during service, reinforcing Destini’s role in maintaining crucial transportation infrastructure. ■ Despite securing these significant contracts, Destini did not generate revenue from this division in FPE2024, as the contract execution only began in the second half of 2023. Consequently, the division recorded a LATNCI of RM13.19 million for the 18-month FPE2024, compared to a loss of RM4.39 million in FY2022. The increased loss was primarily due to the commencement of MRO activities in December 2023. ■ With a stronger position now established in the train MRO business, Destini has renewed optimism for its mobility segment. The Group is looking forward to commencing work on contracts in hand while actively seeking opportunities to replenish its order book within the industry. MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) 32 DESTINI BERHAD ANNUAL REPORT 2024
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