FAVELLE FAVCO BAGS TOWER, OFFSHORE CRANE CONTRACTS WORTH RM92 MLN

KUALA LUMPUR, July 31 (Bernama) — Favelle Favco Bhd’s (FFB) subsidiaries Favelle Favco Cranes Pty Ltd and Favelle Favco Cranes (M) Sdn Bhd have received contracts to supply tower crane and offshore crane for a combined value of RM92 million.

In a filing with Bursa Malaysia today, it said Favelle Favco Cranes Pty Ltd received a contract from Marr Contracting Pty Ltd to supply tower crane, which is expected to be delivered by the end of 2023.

Meanwhile, Favelle Favco Cranes (M) Sdn Bhd received three contracts on the supply of offshore crane from Malaysia Marine and Heavy Engineering Sdn Bhd, expected to be delivered by mid-2024; from Samsung Heavy Industries Co Ltd, expected to be delivered by early 2025; and Shinfox Far East Company Pte Ltd, expected to be delivered by the third quarter of 2024. 

“The contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending Dec 31, 2023 and beyond,” it said.

The group also said the contracts do not have any impact on the share capital and shareholding structure of FFB.

— BERNAMA