The Board of
Directors of Destini Berhad (Destini or the Company) is pleased to announce
that Vanguard Composite Engineering Pte Ltd, a
subsidiary of Destini, had on 8 December 2014, accepted a purchase order for
six lifeboats and integrated davits from SapuraAcergy
Sdn Bhd for the total contract value of SGD1,050,000.00 (approximately RM2,796,142.51)
(Contract).
The Contract is not expected to have any material effects on the share capital
and shareholding structure of the Company. However, it is expected to have positive contribution to the earnings
per share, net assets per share and gearing of the Destini group.
There are no significant risks other than
operational risk associated with the Contract.
None of the Directors and/or substantial
shareholders of the Company or persons connected to the said Directors and/or
substantial shareholders have any direct or indirect interest in the Contract.
The Board of Directors, after due consideration, is of the opinion that the acceptance
of the Contract is in the best interest of the Group. The Contract being
incurred in the ordinary course of business, is not subject to the approval of
the shareholders.
This announcement is dated 12 January 2015.