Destini Shares Up After Securing New Contract

KUALA LUMPUR, June 30 (Bernama) -- Destini Bhd's share price on Bursa Malaysia increased in the early session of trading, driven by a new contract secured from the Ministry of Transport (MOT).

At 9.55 am, the counter gained 1.0 sen to 46.5 sen with 1.36 million shares traded.

In a filing with Bursa Malaysia on Thursday, Destini announced its 70-per-cent-owned subsidiary M Rail Technics Sdn Bhd (Railtec) has been awarded a contract valued at RM71 million from MOT.

The engineering solutions provider said the contract includes the maintenance, repair and overhaul (MRO) Level 3 works for nine electric train sets class 93/2.

The 24-month contract, running from July 2025 to June 2027, will involve trainsets which are currently in service and have reached the 850,000-kilometre threshold for Level 3 servicing. 

The nine ETS 2 units secured under this contract are in addition to the 10 electric train sets (ETS 1) secured by Railtec for Level 4 MRO works in 2022, the filing said.

-- BERNAMA