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 DPSB 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. 2025 JANUARY • On 20 January 2025, M Rail Technics Sdn. Bhd. held a Handover Ceremony for the ETS Class 93 train set. The ceremony was officiated by the Minister of Transport, YB Tuan Loke Siew Fook, and attended by representatives from the Ministry and Destini Group. The event marked the successful completion and delivery of the ETS Class 93 train set to the Ministry of Transport Malaysia. • DOS accepted a letter of award from EnQuest Petroleum Production Malaysia Ltd on 24 January 2025 for the provision of tubular running services for EnQuest. The value of the contract is approximately RM10 million. APRIL DOS accepted a letter of award from Hibiscus Oil & Gas Malaysia Limited on 25 April 2025 for the Provision of Tubular Handling Equipment and Services for PM3CAA. OVERVIEW CORPORATE DIARY DESTINI BERHAD 12 ANNUAL REPORT 2026
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