The Thinker Touch
New Board Appointments At Destini Berhad [7212] Spark Interest
thethinker
Publish date: Tue, 28 Sep 2021, 02:23 PM
Helo fellas! Today i got something to share about Destini Berhad.
Destini Berhad is a Malaysian investment holding firm that provides technical solutions to the aviation, marine, land systems, and oil and gas industries on a global scale.
On 15 Sep, Muhayuddin Musa has been appointed group CEO of Destini Bhd, while former president Datuk Rozabil Abdul Rahman will continue to lead the company in his new capacity as executive chairman.
Rozabil, 49, is a significant shareholder in Destini and has served as CEO since January 2011.
He took over from Tan Sri Rodzali Daud, who left the firm to pursue personal interests, according to Bursa Malaysia papers today.
Rozabil, as executive chairman, is likely to delegate day-to-day operations to incoming CEO Muhayuddin.
Muhayuddin, 59, previously served as managing director and chief executive officer of Computer Forms (M) Sdn Bhd from 1998 to September 2021.
Muhayuddin Caezar Bin Musa has served as Destini Berhad's Group Chief Executive Officer from September 15, 2021. From 1998 to September 1, 2021, he was the Chief Executive Officer and Managing Director of Computer Forms Malaysia Bhd. Encik Bin Musa previously held the position of Managing Partner of a marine logistics company.
He served as the Financial Officer of Lembaga Letrik Negara's Chief Accountant's Department in Kuala Lumpur from 1985 to 1987 and as the Consumer Accountant of the LLN District Office in Johor Bahru. He left the public sector in 1987 to join the commercial sector, where he served as Senior Credit Officer of United Overseas Bank Sdn Bhd (Formerly, Chung Khiaw Bank Ltd.). Throughout his career in the banking industry, he had several positions with both domestic and international banks. He entered the commercial sector and served as Corporate Affairs Manager and Managing Director of one of Federal Furniture Holdings (M) Bhd's subsidiaries.
From January 12, 2002 to September 28, 2005, he served as an Independent Non-Executive Director of Kumpulan Powernet Berhad and APB Resources Berhad. Encik Bin Musa earned a Bachelor of Commerce (Honours) degree from Ottawa, Canada's Carleton University in 1985. He earned a Diploma in Accounting from the University of Technology Malaysia and a Bachelor of Laws (Hons) from Staffordshire University in the United Kingdom.
Destini was recently awarded a contract by Repsol Oil and Gas Malaysia to offer tubular handling and conductor installation equipment and services.
With the granting of the contract, the group now has an order book for its energy segment worth RM486.63 million. It has already recovered 56 percent in the last month following a downgrading by CGS-CIMB Research in March due to their core net loss of RM129 million being nearly five times the RM27.1 million for the financial year ending Dec 31, 2020. (FY20)
Our Bursa Soothsayer predicts Destini will gain RM0.45 per share.
Destini Bhd has entered into an agreement with Keretapi Tanah Melayu Bhd (KTMB) to establish a joint venture (JV) business, ET Sdn Bhd (ETSB), to extend its capabilities in the rail industry in terms of maintenance, repair, and overhaul (MRO).
What i heard about Destini, they will recieve another contract with KTMB and announce this week.
If we look on Destini's Volume Distribution today and past 5 days, There's a lot of buying activities circulating inside.
Yesterday got huge trades at 26.5c. Heard that this activities involving politician from related party that close with Destini.
Chart wise, Destini already breakout the first level of resistance (28.5c). This should trigger huge buying momentum within this week. Let's ride the trend and enjoy the profit!
Prediction : Destini will gain RM0.45
ciao!
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