Destini secures RM71 million Rail Maintenance Contract from Ministry of Transport, Malaysia

Kuala Lumpur, 26 June 2025 – Destini Berhad (“Destini” or “the Group”), a leading engineering solutions provider, today announced that its subsidiary, M Rail Technics Sdn Bhd (“RAILTEC”), has been awarded a contract by the Ministry of Transport, Malaysia (“MOT”) to carry out Level 3 Maintenance, Repair and Overhaul (“MRO”) works for nine (9) Electric Train Sets Class 93/2 (“ETS 2”) (“Contract”).

The Contract, valued at approximately RM71 million (inclusive of SST), marks a significant milestone in Destini’s strategy to expand its footprint in Malaysia’s rail sector. The 24-month engagement, running from July 2025 to June 2027, will involve trainsets that are currently in service and have reached the 850,000-kilometre threshold for Level 3 servicing. The nine (9) ETS 2 secured under this Contract is in addition to the ten (10) Electric Train Sets (ETS 1) secured by RAILTEC for Level 4 MRO works in 2022, further strengthening its recurring rail portfolio.

“This engagement reinforces Destini’s role as a key contributor to the advancement of Malaysia’s rail industry, showcasing our technical capabilities and our commitment,” said Ismail Bin Mustaffa, Executive Director of Destini. “RAILTEC’s involvement in delivering high-quality MRO services supports national objectives to localise rail maintenance and strengthen domestic rail infrastructure.”

“Backed by a solid financial position—having achieved RM23 million in profit atier tax for the nine months ended 31 March 2025—Destini is well-positioned to pursue larger and more strategic rail opportunities, both locally and internationally.” He added.

About Destini Berhad (“DESTINI”)

DESTINI is a prominent Malaysian integrated engineering solutions provider specializing in mobility, aviation & defence, marine, and energy industries. Its core business areas encompass maintenance, repair, and overhaul (MRO) services for the rail industry, MRO services for military aircraft, supply of equipment to armed forces, manufacturing and maintenance of lifeboats, and provision of marine safety equipment, engineering, procurement, construction, and installation of renewable energy systems. It is also involved in the provision of tubular running services for the energy industry.

Issued by: Turing Alpha on behalf of Destini Berhad

Date: 26 June 2025