2012 MARCH Destini acquired a 50% stake in automotive supply and service company System Enhancement Resources & Technologies Sdn Bhd (“SERT”). AUGUST The suspension of trading in Destini’s shares was uplifted by Bursa Securities on August 13 after its regularization plan was approved. DECEMBER Destini acquired a 51% stake in Singapore-based Vanguard Composite Engineering Pte Ltd (currently known as Vanguarde Pte Ltd), a company that manufactures lifeboats, fast rescue boats, davit systems and host of other safety equipment for the marine and oil and gas industries. 2013 APRIL • D estini acquired the Techno Fibre Group to wholly- owned Techno Fibre Australia Pte Ltd, Techno Fibre Middle East Marine Services FZE, Technofibre International Sdn Bhd and Techno Fibre (S) Pte Ltd. The Techno Fibre Group is in the business of lifeboat and davit maintenance. • A fter completing its regularization plan and achieving profits for two consecutive quarters, Destini was uplifted from PN17 status. AUGUST The Group acquired its own building in Glenmarie Industrial Park, Shah Alam to house its corporate office and workshop facility. 1991 MARCH Satang Jaya Sdn Bhd (“Satang Jaya”) commenced operations as an aviation tools and spare parts supplier. 1998 MAY Satang Jaya was awarded the contract to provide MRO services for Royal Malaysian Airforce (“RMAF”) safety and survival equipment under Ministry of Defence Malaysia’s (“MinDef”) RMAF Contractorisation Programme. 2005 MARCH Satang Jaya entered Bursa Malaysia Securities Berhad (“Bursa Securities”), under the name Satang Jaya Holdings Berhad and subsequently changed its name to Satang Holdings Berhad (“Satang Holdings”) in April 2007. 2008 MAY Satang Holdings triggered the prescribed criteria pursuant to Practice Note 17 (“PN17”) of the Main Market Listing Requirements (“Listing Requirements”) of Bursa Securities. 2009 JULY Satang Holdings shares were suspended from trading by Bursa Securities on July 13. 2011 SEPTEMBER As part of its regularization plan, Satang Holdings changed its name to Destini Berhad to reflect a synergized and aligned business direction. The name change is also part of a turnaround plan for the Group to strengthen its financial muscles while exploring new business ventures. Destini’s Corporate Diary OVERVIEW 07 ANNUAL REPORT 2022 DESTINI BERHAD
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