KUALA LUMPUR (July 9): Destini Bhd has landed a contract from the Ministry of Defence Malaysia (MINDEF) to supply non-proprietary aircraft parts for the Royal Malaysian Air Force (RMAF).
In a filing today, Destini said the contract was awarded to its wholly-owned unit Destini Prima Sdn Bhd.
It is one of 30 local companies identified by the Malaysian government to receive the letter of award, which has a combined ceiling of approximately RM121 million, it said.
“Contract parcels will be awarded via competitive bidding among the 30 companies identified,” said Destini.
The contract will commence on July 1, 2020 and end on June 30, 2023.
Destini said the contract reinforces Destini Prima’s status as the main contractor to MINDEF, where it has been providing its services to the various branches of the Royal Malaysian Armed Forces.
Shares of Destini closed five sen or 25% higher at 22.5 sen, for a market capitalisation of RM276.8 million.