Des­tini bags RM21mil con­tract

The Star Malaysia - StarBiz - - News -

PETALING JAYA: Des­tini Bhd has bagged a US$5.2mil (RM21.17mil) con­tract from Posco Dae­woo Corp (PDC) for the pro­vi­sion of tubu­lar run­ning ser­vices (TRS) in Myan­mar.

South Korea’s PDC be­gan its off­shore gas field project in Myan­mar in 2000 and started com­mer­cial pro­duc­tion in 2013.

Des­tini has had a foothold in Myan­mar since 2012. Its first job was to pro­vide TRS ser­vices to Petronas Cari­gali Sdn Bhd (PCSB) and it has com­pleted a num­ber of off­shore projects.

Cur­rently, Des­tini is com­mis­sion­ing two other land and off­shore ex­plo­ration-re­lated con­tracts with PCSB and its sub­sidiaries.

Des­tini pres­i­dent and group CEO Datuk Roz­abil Ab­dul Rah­man said the award of the con­tract re­in­forced Des­tini’s po­si­tion as a global TRS provider, and it plans to con­sol­i­date its po­si­tion in Myan­mar by bid­ding for more projects in the coun­try.

In the sec­ond quar­ter ended June 30, Des­tini recorded a net profit of RM5.6mil on a turnover of RM149.1mil, which is lower than the RM6.1mil net profit on a rev­enue of RM163mil reg­is­tered in the cor­re­spond­ing pe­riod last year.

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