PETALING JAYA: Destini Bhd has secured two contracts, worth a total of RM89mil, from the Defence Ministry to provide its services to the military.

       In a statement, the company said both the contracts were obtained by its wholly-owned subsidiary Destini Prima Sdn Bhd.

       “The first contract is an extension of an existing contract which is to provide maintenance, repair and overhaul (MRO) services and the supply of safety and survival-related equipment for the Royal Malaysian Airforce,” Destini said.

       “The contract extension expires in October 2022 and has a ceiling value of approximately RM88mil,” it added.

       The company said the second contract was to provide MRO services and the supply of safety and survival-related equipment for the Malaysian Army Aviation for the next three years with contract value of RM0.99mil.

       Destini said the award of both contracts would strengthen the group’s position in the defence aviation industry.

       Destini’s shares closed half a sen lower at 19 sen yesterday.

       Destini posted a net profit of RM2.4mil for the nine months to September 2021, compared with a net loss of RM27.2mil for the corresponding period a year earlier.

       Consequently, its earnings per share stood at 0.17 sen, compared with a loss per share of 2.16 sen.

       During the period in review, Destini’s revenue grew 13% to RM139.6mil from RM123.5mil in the nine months to September 2020. It said the increase in revenue was recognised from the increase in activities for its aviation and defence and energy divisions.

       On its prospects, Destini said it had taken pre-emptive measures to focus on strengthening the group’s four core businesses, namely, aviation and defence, energy, land systems and marine. It said its four core businesses were essential services to the country.