⊲ During the year in review, Destini’s mobility division was able to secure two major contracts from MOT for Level 4 MRO on KTMB’s train assets. Both contracts as mentioned before have a cumulative value of RM695 million. ⊲ Being able to take on a Level 4 MRO exercise is a big leap of Destini as it is the highest level of MRO for trains and it strengthens Destini’s capabilities in the industry. Level 4 MRO for train sets is an important exercise that is required to be done based on a train’s operational time or by kilometer in service. Train sets are required to undergo Level 4 MRO to ensure its safety and reliability during service. ⊲ Despite securing these contracts, Destini was not able to generate revenue from this division in FY2022 because the contract roll out is slated for 2023. Although no revenue was generated, this division still incurred administrative expenses which led to a LATNCI of RM1.65 million from a LATNCI of RM1.86 million in FY2022. ⊲ After having a stronger position in the train MRO business, Destini has renewed optimism for its mobility segment and is looking forward to commence contract in hand while replenishing its order book within the industry in 2023. MOBILITY PERFORMANCE 37 ANNUAL REPORT 2022 DESTINI BERHAD
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