Destini Bhd, said that its indirect subsidiary, Destini Shipbuilding and Engineering Sdn Bhd (DSBE), had been served with a winding-up petition dated March 21, 2024, by Enigma Technical Solutions Sdn. Bhd.
The petition claims that DSBE failed to settle a judgement amount of RM1.2 million owed to Enigma, including costs and interest.
The petition seeks DSBE's winding-up, appointment of the Official Receiver Malaysia as its liquidator, payment of costs by DSBE, and any other just orders from the court. DSBE is not considered a major subsidiary of Destini, and Destini's total investment in DSBE is RM3,000,000.
The winding-up petition is not expected to have a significant financial or operational impact on Destini or its subsidiaries, except for legal fees and disbursements to challenge it.
Destini is seeking legal advice to address the matter, and further announcements will be made to Bursa Securities as developments occur.