DESTINI’S CORPORATE DIARY 2015 JUNE • Destini acquired an 80% stake in Safeair Technical Sdn Bhd (“SAT”), a company that provides Line Maintenance services for commercial airlines in local airports. • Destini Aviation Sdn Bhd (“DASB”) entered into a joint venture agreement with UK-based Avia Technique Limited to establish a new joint venture company called Destini Avia Technique Sdn Bhd (“DAT”), currently known as Avia Technique Asia Sdn Bhd. DAT was incorporated to carry on the provision of inspection, repair and overhaul services for commercial aircraft components. NOVEMBER Destini acquired the remaining 49% stake in Vanguard, making the lifeboat maker a wholly-owned subsidiary of the Group. DECEMBER The Group acquired Destini Shipbuilding and Engineering Sdn Bhd (“DSBE”) to enable it to fabricate six 44.25-meter New Generation Patrol Craft worth RM381.30 million for the Malaysian Maritime Enforcement Agency (“MMEA”). 2016 MARCH Vanguard received a contract to supply eight Self- Propelled Hyperbaric Lifeboats to UK-based JFD. JUNE SERT accepted its first rail-related award from the Ministry of Transport for the design, manufacture, supply, delivery, testing and commissioning of a new motor trolley and road rail vehicle for Keretapi Tanah Melayu Berhad (“KTMB”) worth RM62 million. SEPTEMBER TF Corp Pte Ltd subscribed 60% shares in IMES Marine Safety Systems Limited, the company currently known as Destini Marine Safety Solutions Ltd. The company is principally in the business of inspection, testing, repair and maintenance of marine safety systems such as lifeboats and its components. OCTOBER Destini entered into a Joint Venture Agreement with TH Heavy Engineering Berhad (“THHE”) to establish an unincorporated joint venture to procure the award for the supply, delivery, testing and commissioning of three 80-meter Offshore Patrol Vessels (“OPV”) for the MMEA. NOVEMBER DSBE and THHE’s wholly-owned subsidiary THHE Fabricators Sdn Bhd, formed a joint venture company, Gigih Integrasi Sdn Bhd, to undertake the fabrication of the three OPVs. Gigih Integrasi Sdn Bhd is now known as THHE Destini Sdn Bhd. DECEMBER The Group secured a three-year contract extension to provide MRO services and to supply safety and survivalrelated equipment to the RMAF for RM98.20 million. 2017 JANUARY THHE Destini Sdn Bhd, a 51:49 joint venture company between THHE and Destini secured a contract worth RM738.9 million for the supply, delivery, testing and commissioning of three OPVs for the MMEA. FEBRUARY Destini acquired a 70% stake in safety and security equipment company, Halaman Optima Sdn Bhd, for RM5.5 million to enable the Group to supply six multipurpose armed reconnaissance helicopters worth RM321.9 million to Royal Malaysian Army. JUNE DASB entered into a Joint Venture and Shareholders Agreement with Sapura Aero Sdn Bhd to incorporate a joint venture company that is to be in the business of rotary wing and fixed aircraft sale, supply and provision of MRO in relation to aircraft and helicopters and the provision of programmes such as wet leasing and dry leasing of aircraft. OVERVIEW DESTINI BERHAD ANNUAL REPORT 2025 8
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