Registration No. 200301030845 (633265-K) - 92 - 7. Investment in Associates (Cont’d) The offshore project that an associate, Emirates Kejuruteraan Samudra Timur Berhad Petroleum Services L.L.C. (“EKSTB”) had ventured into previously has been called off to project feasibility and economic viability. As such, the Group is not expected to share any gain or loss in EKSTB as EKSTB has remained inactive and does not incur any operating or administrative cost. Summarised financial information of the Group’s associate, TF Emirates Marine Services L.L.C. (“TFEMS”) is set out below. The summarised financial information represents the amounts in the MFRS financial statements of the associate and not the Group’s share of those amounts. 2026 2025 RM RM Summarised statements of financial position Non-current assets 492 1,062 Current assets 542,670 410,413 Current liabilities (1,492,075) (1,212,508) Net liabilities (948,913) (801,033) Interest in associate 49% 49% Group's share of net assets/(liabilities) - - Carrying value of the Group's interest in associate - - Summarised statements of profit or loss and other comprehensive income Revenue 350,240 270,014 Net loss for the financial year (341,266) (165,136) Total comprehensive loss for the financial year (341,266) (165,136) TFEMS The Group has not recognised accumulated losses related to TFEMS totalling RM542,615 (2025: RM375,395), since the Group has no obligation in respect of their losses. Summarised financial information of EKSTB has not been presented as the associate is not material to the Group. There are no commitments or contingent liabilities relating to the Group’s interest in the associates. DESTINI BERHAD 205 ANNUAL REPORT 2026
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