Kuala Lumpur, Feb 17 – Destini Bhd today acquired military helicopter supply company, Halaman Optima Sdn Bhd (HOSB) for RM5.5 million to enable the Group to supply six reconnaissance helicopters to the Ministry of Defence for the Malaysian Army.
The acquisition of the 70% stake of HOSB was made done through Destini’s wholly-owned subsidiary Destini Prima Sdn Bhd (DPSB), a unit of the Group which is principally involved in defence aviation maintenance, repair and overhaul (MRO) services.
HOSB was established in 2011 to engage in the business of supplying military helicopters to the Government of Malaysia. The company has an authorised share capital of 1 million shares of RM1.00 each.
In November 2016, HOSB inked an agreement with the Malaysian Government for the procurement of six American make MD Helicopters Inc. Multipurpose Armed Reconnaissance Model MD530G for the Malaysian Army for RM321.9 million.
Destini’s Group Managing Director, Datuk Rozabil Abdul Rahman says: “With the acquisition of HOSB, it provides a stepping stone for Destini to be able to supply aircrafts to Government agencies. Alongside to expanding our business capabilities, we also expand our service capabilities as now we will also be able to provide MRO for helicopters,”
To note, DPSB was also granted the license for MRO works on MD Helicopters aircrafts that operate in Malaysia.
“Destini Group’s business has expanded beyond aviation MRO for safety and survival equipment. This presents an opportunity for the Group to expand into a wider range of MRO services that is able to cover aircraft fuselage, engine and navigational systems, to name a few,” he adds.
Rozabil also adds that with this new capability and new contract in hand, Destini will be able to see an increase in revenue in the future from recurring scheduled and unscheduled maintenance work for the Malaysian Army.
By being able to supply and provide MRO services to the Malaysian Army, this will open doors for Destini Group to supply and provide MRO services to other Government agencies and also the commercial sector in the future.