Destini Approves Dividend Policy Of Between 30% And 40%

PETALING JAYA: Destini Bhd has approved a dividend policy of between 30% and 40% following a jump in turnover that doubled during the financial period ended Dec 31, 2017.

“After a new management takeover seven years ago, Destini has managed to remain profitable and has now decided on a fixed dividend policy to reward its shareholders in 2018,” the company said in a statement yesterday.

Destini, an integrated engineering solutions provider, saw its financial year 2017 net profit rising to RM30.67mil compared with RM33mil in the previous corresponding period, while revenue surged to RM685.60mil from RM354.43mil in 2016.

“In 2017, Destini saw a commendable performance from its aviation business, which took on the position as the highest contributor to the group in terms of profit. This came from its maintenance, repair and overhaul services, as well as the supply of six reconnaissance helicopters by the Defence Ministry for the Malaysian Armed Forces,” said Destini.

Commenting on the company’s prospects, Destini group managing director Datuk Rozabil Abdul Rahman said in the same statement that the company was targeting to achieve a 20% to 30% growth in the financial year to come.

“By maintaining this growth pace, the group would be able to reward its shareholders who have been instrumental in Destini’s growth,” he said.