Favelle Favco Secures RM131.7 Mln In Crane Supply Contracts
KUALA LUMPUR, Sept 8 (Bernama) -- Favelle Favco Bhd (FFB) has secured purchase orders worth a combined RM131.7 million from four clients to supply tower and offshore cranes.
The group said its subsidiary, Favelle Favco Cranes (M) Sdn Bhd, had received a letter of intent from Shinwoo Development Co Ltd to supply a tower crane, as well as two contracts from PVD Trading and Technical Services Joint Stock Company and Zhuhai Jutal Offshore Oil Services Ltd for offshore cranes.
Another subsidiary, Favelle Favco Cranes Pty Ltd, had secured a contract from Marr Contracting Pty Ltd to supply tower cranes, FFB said in a filing with Bursa Malaysia.
"The contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending Dec 31, 2026 and beyond.
"The contracts do not have any impact on the share capital and shareholding structure of FFB," it said.
-- BERNAMA