Destini Sets Up Rail JV Company

KUALA LUMPUR: Destini Bhd has set up a joint venture company to bid for rail related projects.

Under the deal, Destini told the stock exchange today, it will partner with railway contractor Lion Pacific Sdn Bhd and SVPR Consulting Services Sdn Bhd.

Destini, which is involved in aviation maintenance, shipbuilding, as well as the oil and gas industry, will take a 40% stake in the JV company.

“The purpose of the proposed joint venture is to formalise a collaboration between the shareholders and to draw upon the skills, expertise, experience and capabilities of each other for the benefit of the JV company, in undertaking the business of rail related projects in Malaysia and the region,” Destini said.