Thales Asia country director Nicolas de Fougeroux (left) handing the appointment letter to Destini Prima Sdn Bhd CEO Tunku Johan TUnku Mansur (right) witnessed by Rozabil (second left) and Destini chairman Azhar Azizan.
KUCHING: The recent appointment of Malaysian integrated engineering solutions provider Destini Bhd (Destini) as the key industry partner for Thales Asia Holding Pte Ltd (Thales Asia) will help boost the group’s position across industries as well as diversify its income stream.
The KIP partnership policy is aimed at helping Thales Asia to identify and qualify local partners within a country, possessing industrial capabilities with whom they would like to establish a working relationship.
The Group underwent an extremely rigorous and thorough vetting process to obtain this KIP status which included due diligence investigations among other various processes to meet the requirements set out for qualifying.
Speaking about the appointment, group managing director of Destini Datuk Rozabil Abdul Rahman said it was a testament to the high level of technological ability combined with a strong 15-year track record within Destini that we have been granted this status.
“Through our new strategic partnership with Thales Asia we believe that we will be able to further consolidate our position in the different industries we are currently involved in and equip us to better compete for new contract opportunities.
“It affirms that our strategic growth plan is heading in the right direction and we hope is a sign of even better things to come,” he said in a statement.
“We remain optimistic of not only performing well going forward, but also of continuing to diversify our income streams to ensure cash flow stability and earnings visibility which will add value to our business and benefit both our shareholders and stakeholders.”
The Thales Group originally began as a defence company with a strong presence in the French market, and has now expanded their operations to over 50 countries, where they provide sophisticated solutions in the aerospace, space, ground transportation, defence and security sectors.
With the appointment of Destini as a KIP, the group will not only be able to participate in Thales Asia’s projects in Malaysia but also promote its products and services.
The KIP status is valid for a period of three years during which Destini will operate as Thales Asia’s KIP in both the defence and commercial sectors of business.
Both Thales Asia and Destini will be looking at multiple future collaboration opportunities which will be formalized through agreements on a project by project basis.
The partnership policy has already begun to bear fruit and has resulted in the Group securing a contract for the supply of FZ rocket launchers to the Royal Malaysian Air Force worth RM46 million.
This contract is for a duration of three years, with the first shipment expected to be delivered in mid-January 2015.