Quick Take: Destini Receives Welcome Boost As It Wins Mindef Contract Extension

KUALA LUMPUR: Destini Bhd shares gained as the company said it has won a contract extension for its contract with the Defence Ministry.

The counter advanced 9.76%, or two sen to 22.5 sen in early trade Wednesday. It is one of the most actively traded counters on Bursa Malaysia with over eight million shares traded.

Destini has secured a contract worth RM50.18mil from the Defence Ministry for the supply of safety and survival equipment to the Royal Malaysian Air Force.

Destini, which provides integrated engineering solutions, said the award was won via its wholly-owned subsidiary, Destini Prima Sdn Bhd (DPSB).

“The tenure of the contract is one year starting from Oct 3,2019 to Oct 2,2020, ” it said.

Destini added that that DPSB was required to carry out the professional training and education for growing entrepreneurs (Protégé) and include at least 20 Protégé participants without any cost to the government.


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