PERFORMANCE OTHERS ■ D estini Berhad and other minor subsidiaries are classified under the ‘Others’ sector. This sector did not register material revenue in all quarters. The LATNCI for this sector increased from RM178.77 million in FY2022 to RM243.42 million in FYE2024. Higher loss as a resulted of higher financing cost, business development expenses, and impairment of intangible asset and investment in subsidiaries amounting to RM203.81 million. ■ H as embarked on a cost rationalization exercise and reorganizing group structure ■ C ompleted a Rights Issue With Warrants exercise in at raising capital of RM133.08 million. The amount raised has been utilized mainly to the execution of contracts from Ministry of Transport and Ministry of Defence, Malaysia. ■ C ompleted the Share Consolidation for 499,059,412 Consolidated Shares and 166,353,160 Consolidated Warrants B on the Main Market of Bursa Malaysia Securities Berhad CLIMATE ACTION Decarbonisation is not just a part of everyday conversation anymore and is increasingly becoming critical components of business strategy across all industries globally. Reducing the amount of carbon footprint is part of the broader sustainability agenda that is widely adopted by small to large organisations. In September 2022, Bursa Malaysia enhanced its sustainability reporting framework under the Main. Market Listing Requirements which include prescribed sustainability matters and indicators deemed material for all listed issuers on climate change related disclosures which includes a transition towards a low-carbon economy. In line with this the Group has taken various measures to ensure that its carbon footprint is reduced. One of its significant initiatives is to have installed solar PV panels on its corporate office roof to shift its energy consumption in a more sustainable manner. After the commissioning of the panels, the building’s reliance on solar power was 58% of the total power consumption for the building which translated to 104.40 MWh of solar energy. The remaining 42% of power was supplied by the grid. Since the commissioning of the panels, the Group’s CO2 emissions were reduced by 291 tonnes which is equivalent to saving 117.88 tonnes of standard coal and planting 15,883 trees. Destini is committed to ensuring that its growth initiatives are equally matched with the efforts to mitigate its impact on the environment. The Group closely monitors climate risks that may impact its ability to create long-term sustainability. As the demand for the transition for cleaner energy gathers pace, Destini will adapt to the current shift while it simultaneously looks for new business opportunities from the RE industry. STRENGTH IN GOVERNANCE The strength of an organisation is not measured by only its financial position but also its commitment to robust corporate governance. Many policies have been put in place to ensure that Destini and its Board members support the best practices of corporate governance. Policies that have been tightened and put forward are as such: → Directors’ Fit and Proper Policy 2022 → Anti-Bribery and Anti-Corruption Policy 2020 → T erms of Reference of Risk Management Committee 2020 → Corporate Governance Report 2020 → Terms of Reference of Audit Committee 2022 → T erms of Reference of Nomination and Remuneration Committee 2020 → Whistle Blowing Policy 2022 → Code of Ethics and Conduct 2019 → Board Charter 2022 → E nvironmental, Social and Governance Policy 2019 These policies are an indicator of proactive steps the Group has taken to ensure strong internal controls for a sustainable and continuous business environment. MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) 34 DESTINI BERHAD ANNUAL REPORT 2024
RkJQdWJsaXNoZXIy NDgzMzc=