Destini bags RM18.75mil rocket supply contract from Defence Ministry

KUALA LUMPUR: Destini Bhd's wholly owned subsidiary Destini Prima Sdn Bhd has secured a contract from the Ministry of Defence for the supply of 70MM rockets to the Malaysian army valued at about RM18.75mil.

In a filing with Bursa Malaysia, the group said the contract is for a period of two years from June 27, 2023, to June 26, 2025.

It added that Destini Prima is required to provide a performance bond of RM468,733.01.

"The contract is expected to contribute positively to the earnings and net assets of Destini for the financial periods ending Dec 31, 2023, and the financial periods in the duration of the contract," it said.