PETALING JAYA: Destini Bhd
plans to acquire loss-making Australian firm, Trovon Group Pty Ltd, for AU$100 (RM285.12) as it seeks to capitalise on Trovon’s AU$43.35mil orderbook in rail-related services.
In a filing with Bursa Malaysia, the engineering solutions provider said Trovon specialises in maintenance, repair and overhaul or MRO services, with expertise spanning mainline, high-speed, freight, metro and light rail component remediation.
Despite reporting a loss before tax of AU$4.81mil on revenue of AU$4.88mil for financial year 2023 (FY23), Destini said Trovon holds significant strategic value due to its certifications, technical expertise and global presence.
Trovon also reported net liabilities of AU$2.5mil, with total borrowings of AU$10.9mil and cash holdings of AU$767,318 as of FY23.
