Destini Buys Military Helicopter Company To Tap Rm321 Mil Contract With Mindef

KUALA LUMPUR (Feb 16): Destini Bhd bought a military helicopter supply company today, enabling it to get a share of a RM321.9 million contract between the company and Malaysian Ministry of Defence (MinDef).

In a statement today, Destini said its wholly-owned subsidiary Destini Prima Sdn Bhd acquired a 70% stake in Halaman Optima Sdn Bhd for RM5.5 million.

Halaman Optima was established in 2011 to engage in the business of manufacturing, import and export, supply of goods and repair of safety and security products and defence equipment.

Destini Prima is principally involved in defence aviation maintenance, repair and overhaul (MRO) services.

In November 2016, Halaman Optima inked a supply contract with the Malaysian government for the procurement of six Multipurpose Armed Reconnaissance Model MD530G worth RM321.9 million for the Armed Forces.

 

Download This Article

Source : The Edge Markets

Search