OVERVIEW 2022 JANUARY • DPSB accepted a letter of award for the extension of an existing contract to provide MRO services and the supply of safety and survival equipment to RMAF for RM88 million. • DPSB accepted a Letter of Award to provide MRO services and the supply of component and spare parts for safety and survival equipment to the Malaysian Army’s Aviation Wing for RM0.99 million. • DSBE disposed of its 51% stake in THHE Destini, which has consequently ceased to be a joint venture company of the Group. MARCH DOS bagged a contract from EnQuest Petroleum Production Malaysia Ltd for the provision of tubular handling services off the coast of Terengganu. MAY M Rail Technics Sdn Bhd (“Railtec”) accepted a contract worth RM531.39 million from the Ministry of Transport Malaysia for Level 4 MRO on 35 units of Six Car Train Sets operated by KTMB for four and a half years. JUNE Destini hands over six multipurpose armed reconnaissance helicopters model MD530G to the Royal Malaysian Army after the completion of its Final Acceptance Test. These assets are manufactured by MD Helicopter Inc., a company based in the United States of America. SEPTEMBER • Railtec accepted a contract worth approximately RM163.61 million from the Ministry of Transport Malaysia for the provision of Level 4 MRO services of 10 Electric Trains Sets operated by KTMB. • Destini ESS Sdn Bhd, a 70% owned subsidiary of Destini Berhad, signed an exclusive distribution agreement with Alpha ESS International Pte Ltd, a Singapore-based company, to locally distribute energy storage systems for residential and commercial application, electric vehicle energy plus storage solution, and new products developed and manufactured by Alpha Ess Group. 2023 JUNE • DPSB accepted a letter of award from MINDEF for the procurement of scheduled and unscheduled maintenance, testing, technical services (modification, training, publication and consultation) and supply of spare parts and related components, for the non-airborne equipment to the RMAF. The value of the contract is approximately RM25.44 million. • DOSB accepted a letter of award from the MINDEF for the procurement, supply and delivery of 70MM rockets (2.72 inch) to the Malaysian Army. The value of the contract is approximately RM18.75 million. JULY • DOS accepted the Service Order from Northern Gulf Petroleum Pte Ltd for the Provision of Conductor Hammering and Tubular Running Services to support Rossukon Project, Gulf of Thailand, located at Rossukan field, block G6/48, offshore Gulf of Thailand, Kingdom of Thailand. The value of the contract is approximately USD 488,000.00. • DPSB accepted a contract from the MINDEF for the supply of non-proprietary aircraft spare parts for the RMAF for a contract ceiling. For the contract ceiling of RM403.8 million, to be shared with 29 other contractors. The contract will expire on 30 June 2025. SEPTEMBER • DPSB accepted a letter of award from MINDEF for the procurement, supply and delivery of FZ Rocket Motor to the RMAF. The value of the contract is RM19.04 million. • Destini Energy Sdn. Bhd entered into a non-binding Collaboration Agreement with Maxland Energy Sdn. Bhd., a wholly-owned subsidiary of Priceworth International Berhad, currently known as Maxland Berhad. The parties shall collaborate with each other to develop and embark on renewable energy projects, including installation of solar panels at Indah Water Konsortium’s sewerage treatment plants, solar power projects in Sandakan, Malaysia and Victoria, Australia, and any other renewable energy projects to be secured by the Parties. • Destini on 15 September 2023, entered into a Memorandum of Understanding (“MOU”) with National Defence University of Malaysia to collaborate in the areas of Research and Innovation, Training and Industrial Collaboration Programme. DESTINI BERHAD ANNUAL REPORT 2025 11
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