NOVEMBER Destini Armada Pte. Ltd. acquired a 70% stake in AMS Marine Pte. Ltd., a Singapore-based company that is in the business of design, fabrication and servicing of heat exchangers, fabrication, installation and erection of piping and steelworks and non-destructive testing to the marine and oil and gas industry. 2018 APRIL • Destini Engineering Technologies Sdn. Bhd. (“DET”) inked an MOU with Felcra Berhad to provide MRO services for industrial facilities and equipment for agriculture and related industries within Malaysia and the ASEAN region. • DOS was awarded a two-year umbrella contract by PETRONAS Carigali Sdn. Bhd. (“PCSB”) for the provision of well abandonment integrated services. • Destini Prima Sdn. Bhd. (“DPSB”) accepted an award from the MINDEF for an additional RM138 million to an existing contract to provide MRO services and the supply of safety and survival equipment for the RMAF. MAY DOS was awarded a US$8 million (RM31.76 million) contract to be Pakistan-based Lyallpur Oil Tool Pvt Ltd’s technical partner for tubular running services in Pakistan. JULY The Group received a conditional work order for the provision of well abandonment integrated services for Pulai B platform, off the coast of Terengganu. This came under the two-year umbrella contract by PCSB for the provision of well abandonment integrated services that Destini received in April. AUGUST DOS received an award from POSCO Daewoo Corporation for the provision of tubular running services in Myanmar for US$5.2 million (RM21.17 million) DECEMBER DOS was awarded the provision of tubular handling, conductor installation and slot recovery equipment and service for the Pan Malaysia Petroleum Arrangement Contractors (“PAC”) Operators Drilling Program by PCSB. 2019 JANUARY • DPSB received a letter of extension from the Ministry of Home Affairs to provide MRO services, technical assistance and supply of spares related to safety and survival equipment, ground support and mechanical equipment, electronic equipment, airborne multisensory system and flight operations system for the Royal Malaysia Police Air Wing for a period of three years until November 2021 for RM10 million. • DOS received a letter of award for the provision of tubular running services for exploration and appraisal and infill drilling campaigns at the lower part of the Gulf of Thailand near the South China Sea for Carigali-PTTEPI Operating Company Sdn. Bhd. The tenure of the contract is two years with a one-year extension option. MARCH DOS was awarded the provision for tubular handling, conductor installation and slot recovery equipment and services for PAC Operators’ Drilling Program for Sarawak Shell Berhad. APRIL DAT entered into an aircraft safety equipment maintenance support agreement with Malindo Airways Sdn. Bhd. and Thai Lion Mentari Co Ltd, to supply, test, repair, and carry out overhaul activities on aircraft safety equipment. The agreement’s tenure is three years with an option to extend for another two years. JULY DOS received a three-year contract from Petrofac (Malaysia-PM304) Limited for the provision of tubular handling equipment and running services. OCTOBER DOS was awarded the PAN Malaysia Umbrella Contract for the Provision of Integrated Well Services for Intervention, Workover and Abandonment for PACs from PCSB. The contract runs on a call-out basis through the issuance of work orders and would expire in 2024 unless it is extended. DECEMBER DPSB secured a RM50.18 million contract from MINDEF for the extension of the existing contract to provide MRO services and the supply of safety and survival equipment to the RMAF for one year. OVERVIEW DESTINI BERHAD 09 ANNUAL REPORT 2026
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