Destini Berhad announced that its wholly-owned subsidiary has secured a three-year contract from Ministry of Defence Malaysia (MINDEF) valued at approximately RM33.05 million for airborne safety and survival equipment maintenance.
With the contract, the group's order book swells beyond RM800mil further enhancing earnings visibility through 2027.
The contract covers comprehensive maintenance services for airborne safety and survival equipment, which are vital to the operational readiness and safety of Malaysia Air Force. The contract begins on 11 November 2024 and will extend through to 10 November 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) program, a national initiative aimed at workforce readiness.
The awarded contract is anticipated to have a positive impact on Destini's financial performance, contributing to both earnings growth and enhancement of net assets starting from the financial year ending 30 June 2025 and throughout the duration of the contract. The current order book has expanded to around RM824 million, and tender book is approximately RM777 million.
