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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 15 Jul 2022
Category General Announcement for PLC
Reference Number GA1-15072022-00024

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 subsidiaries, Favelle Favco Cranes Pty. Limited and Kroll Cranes A/S had received the following purchase orders or Letter of Intent (“Contracts”) respectively from 5 July 2022 and up to the date of announcement:-

Contracts secured by

Customer

Brief description of the Contracts

Duration of the Contracts

Favelle Favco Cranes Pty. Limited

G A Caelli Holdings Trust

Supply of Tower Crane

which is expected to be delivered by end of 2022

Kroll Cranes A/S

Daewoo Shipbuilding & Marine Engineering Co., Ltd

Supply of Tower Crane

which is expected to be delivered by mid of 2023

The approximate combined value of the above substantial orders secured amount to RM42.7 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 2022 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 is in the best interest of FFB.

This announcement is dated 15 July 2022.

    
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