KUALA LUMPUR (July 24): Destini Bhd (KL:DESTINI) has received a requisition notice from four shareholders seeking an extraordinary general meeting (EGM) to remove four directors, including its executive chairman and executive director, and appoint two others, including a career politician. The four collectively hold a 10.15% stake in the company.

Destini did not disclose the specific reasons behind the shareholders’ request, stating only that the shareholders had collectively issued a special notice of intention, requisitioned an EGM, and nominated candidates for the board, according to its Bursa Malaysia filing on Friday.

The requisitionists — LINC Shared Services Sdn Bhd, Veritas Aman Sdn Bhd, WP Travel Sdn Bhd and Azulite Bloom Sdn Bhd — requested the EGM to remove four directors from the board: its executive chairman Datuk Abd Aziz Sheikh Fadzir, executive director Ismail Mustaffa, and non-executive directors Datuk Bahudin Mansor and Norashikin Mat Yusof.

Both Abd Aziz, 63, and Ismail, 63, are long-time board members of the group, first appointed in 2017. 

Abd Aziz was redesignated executive chairman on Dec 23, 2024, while Singaporean national Ismail was redesignated as executive director on Aug 28, 2023.

Bahudin, 66, was appointed as an independent non-executive director on June 19, 2023, while Norashikin, 39, was appointed as an independent non-executive director on Jan 3, 2025.

At the same time, the shareholders have nominated Datuk Mua'Amar Ghadafi Jamal Jamaludin for election as director and Datuk Seri Diraja Syed Razlan Ibni Syed Putra as non-executive chairman at the proposed EGM, which is scheduled to be held on Aug 21, 2026.

Ghadafi, 47, currently serves as Umno deputy chief of Parit Buntar and has been chairman of Risda Bina Sdn Bhd since 2025. He previously held various positions in political and non-governmental organisations, including Umno youth leadership roles and serving as president of the Malaysia Youth Council.

Syed Razlan, 75, who served as a member of Parliament from 2004 to 2008, is a member of the Perlis royal family and currently serves as chairman of D’mart Segi Fresh Sdn Bhd. He is also related to Datuk Syed Haizam Hishamuddin Putra Jamalullail, an independent non-executive director of Destini appointed on Dec 4, 2025.

Destini said it is seeking legal advice on the notice and proposed resolutions and will make further announcements on any material developments, where appropriate.

On July 21, Datuk Seri Dr Shahril Mokhtar was redesignated from group managing director to non-executive director. The company has yet to announce a new group managing director.

For the third quarter ended March 31, 2026 (3QFY2026), Destini’s net profit fell 58.6% to RM3.46 million from RM8.35 million a year earlier, mainly due to lower maintenance, repair and overhaul activities in the aviation and defence sectors. Revenue also declined 4.6% to RM83.69 million from RM87.67 million.

At the time of writing, Destini shares were trading unchanged at 27 sen, valuing the company at RM148.2 million.