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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 May 2015
Category General Announcement for PLC
Reference Number GA1-20052015-00033

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

FAVELLE FAVCO BERHAD

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

 INTRODUCTION

The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pte Ltd, Favelle Favco Cranes Pty. Limited and Favelle Favco Cranes (USA), Inc and Kroll Cranes A/S had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the months of March 2015, April 2015 and up to the date of announcement:-

Contracts secured by

Customer

Brief description of the Contracts

Duration of the Contracts

Favelle Favco Cranes (M) Sdn Bhd

SapuraKencana HL Sdn Bhd

Supply of Offshore Crane

which is expected to be delivered by end of 2015

Favelle Favco Cranes (M) Sdn Bhd

Bumi Armada Offshore Holdings Ltd

Supply of Offshore Crane

which is expected to be delivered by early of 2016

Favelle Favco Cranes (M) Sdn Bhd

Nam Cheong International Ltd

Supply of Offshore Crane

which is expected to be delivered by second quarter of 2016

Favelle Favco Cranes Pte Ltd

PVD Trading and Technical Services JSC

Supply of Offshore Crane

which is expected to be delivered by first quarter of 2016

Favelle Favco Cranes (M) Sdn Bhd

Hyundai Heavy Industries Company Ltd

Supply of Offshore Crane

which is expected to be delivered by third quarter of 2016

Favelle Favco Cranes Pty. Limited

Stride High Pty Ltd

Supply of Tower Crane

which is expected to be delivered by third quarter of 2015

Favelle Favco Cranes (USA), Inc

TES, Inc

Supply of Tower Crane

which is expected to be delivered by end of 2015

Favelle Favco Cranes (M) Sdn Bhd

EA Technique (M) Berhad

Supply of Offshore Crane

which is expected to be delivered by early of 2016

Kroll Cranes A/S

Energy Solution Management Co., Ltd

Supply of Tower Crane

which is expected to be delivered by early of 2016

The approximate combined value of the above substantial orders secured amount to RM85.7 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 2015 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 May 2015.

    
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