PETALING JAYA: Destini Bhd
may have won two contracts recently but the jobs would not move the needle much even though it plans to work harder to win more contracts in the future, CGS-CIMB Research said in a note.
The research house is now forecasting that Destini will be profitable again in financial year 2021 (FY21)-FY22. That is on the assumption that there will be more contract flows in the aviation and oil and gas (O&G) sectors.
However, it remains mindful of Destini’s operating cash-flow deficit risks. That prompted it to reiterate its “reduce’’ call on the stock with a target price of 12 sen.
...