SHAH ALAM: New MRO in the works. Two public listed companies, Destini Bhd and Sapura Resources Bhd, has announced an agreement to set up a new joint venture, an aircraft sale, leasing and MRO company. Destini made the announcement to Bursa Saham on June 20.
The Board of Directors of Destini Berhad (“Destini” or “the Company”) wishes to announce that Destini Aviation Sdn Bhd (“DASB”), a wholly-owned subsidiary of the Company, has on 20 June 2017 entered into a Joint Venture and Shareholders Agreement (“Agreement”) with Sapura Aero Sdn Bhd (“SASB”), a wholly-owned subsidiary of Sapura Resources Berhad, in relation to the incorporation of a Joint Venture Company, Urban Fleet Sdn Bhd (“UFSB”). The proposed joint venture company is to effectively collaborate by drawing upon skills, expertise, experience and capabilities of each other for all parties’ mutual benefits and profits in the undertaking of the business of sale of rotary wing and fixed wing aircraft, supply and provision of maintenance, repair and overhaul services in relation to aircraft and helicopters and the provision of programs such as wet leasing and dry leasing of aircraft.
The release did not say anything about military and para-military aircraft or MRO but it is likely that it will be a natural progression of the new company.
Sapura Aero for example is the authorised service centre for MD Helicopters in Malaysia while Destini has taken over the MD530 contract when it bought over the original contractor.
Further more, one of Destini subsidiaries, Destini Prima Sdn Bhd, is also involved
“supply and maintenance, repair, overhaul (MRO) of safety and survival related equipment for the defence aerospace industry
Destini also has other contracts involving its other susbidiaries involved in marine and automotive industries.
As for Sapura, its subsidiary, Sapura Secured Technologies is one of the biggest defence contractor for the armed forces and also other government agencies.
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