Destini Gears Up For Potential Rail Jobs With Siemens

KUALA LUMPUR (Oct 22): Destini Bhd has inked a memorandum of understanding (MoU) with Siemens Mobility Sdn Bhd for the latter to act as Destini’s technical assistance advisor in providing maintenance, repair and overhaul (MRO) services for electrical trainset components in Malaysia.

In a statement on Friday, the integrated engineering solutions provider said the MoU was entered into to formalize a partnership that enables both parties to bring onboard their respective expertise and technical know-how.

Destini said it envisions that this partnership would enhance its rail-related expertise and would be beneficial for the group in its pursuit of future rail-related contracts.

According to Destini, it had also recently formed a joint venture company, namely M Rail Technics Sdn Bhd, with Keretapi Tanah Melayu Bhd to carry out the business of providing MRO services related to rail industry.

“With Siemens onboard, it would complement and enhance Destini group’s MRO capabilities in the rail industry,” it said.

Destini added this partnership with Siemens signifies a progressive step forward for the group to enhance its position in the rail industry by expanding its MRO capabilities, in line with the national agenda of establishing and developing local capabilities in MRO of railway systems.

At market close, shares of Destini was down half a sen or 2% to 24.5 sen, valuing the group at RM407.56 million.