DESTINI’S CORPORATE DIARY OVERVIEW 2024 MARCH On 13 March 2024, the company completed the Rights Issue with Warrants following the listing and quotation of 3,327,063,258 Rights Shares and 1,663,531,629 Warrants B on the Main Market of Bursa Securities. JUNE On 12 June 2024, the Company completed the Share Consolidation following the listing of and quotation for 499,059,412 Consolidated Shares and 166,353,160 Consolidated Warrants B on the Main Market of Bursa Securities. As of 30 June 2024, Destini has streamlined its corporate structure by consolidating operations and removing dormant entities. This restructuring has not only reduced administrative complexities and optimising costs but also sharpened the Group’s focus on its core competencies. The following entities have either been struck off or disposed of their entire stake as part of this process: Struck Off: 1. Vanguarde Marine Engine Pte. Ltd. 2. PT Destini Marina Perkasa 3. Satang Environmental Sdn. Bhd. 4. Satang-ICS Global Sdn. Bhd. 5. DB Precision Sdn. Bhd. 6. DB Communications Sdn. Bhd. 7. Destini Alpha ESS Sdn. Bhd. 8. Destini Upstream Sdn. Bhd. 9. DLP Rail Sdn. Bhd. 10. Destini Ventures Sdn. Bhd. 11. Land Auto Technology Sdn. Bhd. 12. Destini Aero Teknologi Sdn. Bhd. 13. Destini First Sdn. Bhd. 14. Vanguarde Offshore Pte. Ltd. 15. TF Corp Saudi Arabia Co. Ltd. 16. HS Destini Sdn. Bhd. 17. Destini ESS Sdn. Bhd. 18. Destini Empire Properties Sdn. Bhd. 19. Vanguard Safety Technologies Sdn. Bhd. 20. Destini Australia Pty Ltd Disposed: 1. Safeair Technical Sdn. Bhd. 2. Avia Technique Asia Sdn. Bhd. (Formerly known as Destini Avia Technique Sdn. Bhd.) 3. Blackstone Dagangan Pte. Ltd. 4. Destini HRTC Sdn. Bhd. 5. Destini Engineering Technologies Sdn. Bhd. 6. System Enhancement Resources & Technologies Sdn. Bhd. NOVEMBER Destini Prima Sdn. Bhd., a wholly-owned subsidiary of Destini, accepted a Letter of Award from the Ministry of Defence Malaysia for the Maintenance Services for Safety and Survival Equipment for Airborne Equipment. The contract is valued at approximately RM33.05 million. DECEMBER In December 2024, Destini acquired the Trovon Group as new subsidiaries. Trovon brings to Destini extensive expertise in mainline, high-speed, freight, metro, and light rail component remediation services. The company’s capabilities encompass critical systems such as brake systems, HVAC, and train doors, complemented by its Artificial Intelligence (AI) driven predictive maintenance platform, further strengthening Destini’s position in the rail industry. On 10 December 2024, M Rail Technics Sdn. Bhd. successfully conducted a Train Handover Ceremony to the Ministry of Transport Malaysia. The ceremony was officiated by the Deputy Prime Minister, YAB Datuk Seri Dr. Ahmad Zahid Hamidi, and attended by senior officials from the Ministry and Destini Group. During the event, four (4) SCS train sets and one (1) ETS train set were officially handed over to the Ministry, marking a significant milestone in the company’s contribution to Malaysia’s rail industry. DESTINI BERHAD ANNUAL REPORT 2025 12
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