KUALA LUMPUR (Nov 5): Destini Bhd (KL:DESTINI) said on Wednesday (Nov 5) it has issued and submitted its annual report for the financial year ended June 30, 2025 (FY2025), ahead of the Nov 7 (Friday) deadline that would have triggered a trading suspension.
The engineering group explained that the initial delay in the release of the annual report was due to additional time needed to finalise the audit and consolidation of newly acquired overseas subsidiaries.
“With these audit procedures now completed, the group has finalised its financial statements and successfully released the annual report ahead of the expected timeframe,” it said in a press release.
The group missed the original Oct 31 deadline to release its annual report, which includes audited financial statements, as well as the auditors’ and directors’ reports. Destini had until Nov 7 to submit the report or face a trading suspension from Nov 10, according to an earlier filing on Bursa Malaysia.
“We are pleased to have issued our Annual Report 2025. The completion reflects our continued commitment to transparency, accountability and timely communication with our shareholders and stakeholders,” executive director Ismail Mustaffa said.
The company recently returned to profitability following a strategic pivot into the rail sector from its roots as a defence contractor.
For FY2025, Destini recorded a net profit of RM28.18 million on revenue of RM340.49 million. No full-year comparison as the group changed its financial year-end from Dec 31 to June 30 in 2024.
In the fourth quarter ended June 30, 2025, the group posted a net profit of RM8.44 million versus a net loss of RM97.22 million a year earlier, as quarterly revenue nearly tripled to RM90.28 million from RM31.74 million.
At Wednesday’s noon market break, Destini shares were down one sen or 2.67% at 36.5 sen, giving the group a market capitalisation of RM200.4 million. Year to date, the counter has gained more than 10%.