KUALA LUMPUR (Jan 19): A joint venture (JV) between Destini Bhd and TH Heavy Engineering Bhd (THHE) has bagged a RM738.9 million contract from the government to supply three offshore patrol vessels (OPVs) for the Malaysian Maritime Enforcement Agency (MMEA). In a joint statement today, Destini and THHE said the contract was secured by THHE Destini Sdn Bhd, which is 51% owned by Destini and 49% by THHE. Destini managing director Datuk Rozabil Abdul Rahman said with the latest contract win, Destini has secured shipbuilding contracts from MMEA worth more than RM1.1 billion to date. THHE chief executive officer Suhaimi Badrul Jamil said the OPV contract award marks the beginning of the group’s diversification strategy. Destini and THHE said the 83-metre vessels will be the largest vessels to date in the MMEA fleet.

Source: The Edge Markets January 19, 2017 11:53 UTC