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FAVELLE FAVCO BERHAD ("FFB" or "the Company") ACCEPTANCE OF PURCHASE ORDERS

Company Name FAVELLE FAVCO BERHAD  
Stock Name FAVCO    
Date Announced 20 Sept 2013  
Category General Announcement
Reference No CC-130920-1D713

OTHERS FAVELLE FAVCO BERHAD ("FFB" or "the Company") ACCEPTANCE OF PURCHASE ORDERS

FAVELLE FAVCO BERHAD

Type Announcement
Subject OTHERS
Description FAVELLE FAVCO BERHAD ("FFB" or "the Company")
ACCEPTANCE OF PURCHASE ORDERS

 INTRODUCTION

The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiaries, Favelle Favco Cranes Pte Ltd, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pty Ltd had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the months of August 2013 and September 2013:-

Contracts secured by
Customer
Brief description of the Contracts
Duration of the Contracts
Favelle Favco Cranes (M) Sdn Bhd
Thai Nippon Steel & Sumikin Engineering & Construction Corp., Ltd.
Supply of Offshore Crane
which is expected to be delivered by third quarter of 2014
Favelle Favco Cranes Pte Ltd
PPL Shipyard Pte Ltd
Supply of Offshore Crane
which is expected to be delivered from early of 2015 to third quarter of 2015
Favelle Favco Cranes Pty Ltd
BP Exploration (Shah Deniz) Limited
Supply of Offshore Crane
which is expected to be delivered from end of 2014 to early of 2015
Favelle Favco Cranes (M) Sdn Bhd
China Merchants Heavy Industry (Jiangsu) Co., Ltd
Supply of Offshore Crane
which is expected to be delivered from end of 2014 to early of 2015

The approximate combined value of the above substantial orders secured amount to RM120.7 million.

FINANCIAL EFFECTS 

The above Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2013 and beyond. The Contracts do not have any impact on the share capital and shareholding structure of FFB.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS 

None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the above Contracts.

DIRECTORS' STATEMENT 

The Board of Directors of FFB is of the opinion that the acceptance of the above Contracts are in the best interest of FFB.

This announcement is dated 20 September 2013. 

    
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