Destini up 3.70% on bagging three-year contract to service Petrofac’s wells

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KUALA LUMPUR (July 24): Shares in Destini Bhd rose 3.70% this morning after its wholly-owned subsidiary Destini Oil Services Sdn Bhd (DOS) bagged a contract to service Petrofac (Malaysia-PM304) Ltd’s Malaysian wells.

At 9.11am, Destini added 1 sen to 28 sen for a market capitalisation of RM323.46 million.

The contract is for the provision of handling equipment and running services, with its total value dependent on the number of work orders issued by Petrofac to DOS throughout the contract's duration.

The three-year contract commenced on July 1 and contains the option for a further one-year extension.