Favelle Favco's Unit Bags Offshore Crane Contracts Worth RM88.8 Mln
KUALA LUMPUR, Sept 25 (Bernama) -- Favelle Favco Bhd’s (FFB) unit, Favelle Favco Cranes (M) Sdn Bhd, has secured RM88.8 million worth of contracts from Saipem Offshore Construction SPA, Malaysia Marine and Heavy Engineering Sdn Bhd, and OceanMight Sdn Bhd for the supply of offshore cranes.
In a Bursa Malaysia filing today, the construction cranes manufacturer said the offshore cranes for Saipem Offshore Construction and Malaysia Marine and Heavy Engineering are scheduled for delivery by the end of 2027, while the OceanMight contract is expected to be completed by the third quarter of 2027.
“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