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Malaysia's Destini acquires helicopter distributor HOSB

17 February 2017

Malaysian engineering group Destini Berhad, which has expanding interests in the defence sector, has entered an agreement to acquire Kuala Lumpur-based Halaman Optima (HOSB) to support the supply of aircraft to the Malaysian Armed Forces (MAF).

Destini said in a filing to the Bursa Malaysia stock exchange on 16 February that under the agreement Destini would purchase 70% of HOSB's shares for MYR5.5 million (USD1.2 million).

Destini said that upon completion of the acquisition HOSB would become a subsidiary of affiliated company Destini Prima, which specialises in providing a range of aerospace maintenance, repair, and overhaul (MRO) services to the MAF.

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