SHAH ALAM: Public listed Destini Bhd announced on November 11 that its wholly-owned subsidiary, Destini Prima Sdn Bhd (DPSB) has secured a three-year RM33.5 million contract from the Defence Ministry for airborne safety and survival equipment maintenance.

Destini said with the contract, the group’s order book swells beyond RM800 million further enhancing earnings visibility through 2027.

It said the contract covers comprehensive maintenance services for airborne safety and survival equipment, which are vital to the operational readiness and safety of the Royal Malaysian Air Force (RMAF) personnel and equipment.

The contract period starts from November 11 2024 and will extend through to November 10 2027. As part of the contract terms, DPSB will provide a performance bond and participate in the Professional Training and Education for Growing Entrepreneurs – Ready to Work (PROTÉGÉ-RTW) programme, a national initiative aimed at workforce readiness.

Destini said the contract is anticipated to have a positive impact on Destini’s financial performance, contributing to both earning growth and enhancement of net assets starting from the financial year ending June 30 2025, and throughout the duration of the contract. The current order book has expanded to around RM824 million, and tender book is RM777 million.

DPSB is the incumbent for the contract after Destini took over the previous maintenance provider, Satang Jaya Bhd.

— Malaysian Defence.

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