KUALA LUMPUR (Nov 11): Destini Bhd (KL:DESTINI) has secured a contract worth RM33.05 million with the Ministry of Defence (Mindef) for comprehensive maintenance services for airborne safety and survival equipment.

The three-year contract begins on Nov 11, 2024, and will extend through to Nov 10, 2027.  

As part of the contract terms, Destini will provide a performance bond of RM550,800 and participate in the Professional Training and Education for Growing Entrepreneurs — Ready to Work (PROTÉGÉ-RTW) programme, which is a national initiative aimed at workforce readiness.  

“We are fully dedicated to ensuring quality and reliability in all aspects of our work, supporting Mindef in its mission to safeguard the nation.” Destini executive director Ismail Mustaffa said in a statement on Monday. 

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 June 30, 2025 and throughout the duration of the contract, he added. 

Destini is an integrated engineering solutions provider specialising in the aviation and defence, energy, mobility, and marine industries.  

Its core business areas encompass maintenance, repair, and overhaul services for military aircraft, supply of equipment to armed forces, manufacturing and maintenance of lifeboats, provision of marine safety equipment, engineering, procurement, construction, and installation of renewable energy systems.  

At the time of writing on Monday, Destini shares were unchanged at 36 sen, giving it a market capitalisation of RM180 million.