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Announcement - FAVELLE FAVCO BERHAD ("FFB" or "the Company") - Acceptance of Purchase Orders
General Announcement
Reference No CU-100802-52176

 

Company Name
:
FAVELLE FAVCO BERHAD  
Stock Name
:
FAVCO  
Date Announced
:
02/08/2010  

 

Type
:
Announcement
Subject
:
FAVELLE FAVCO BERHAD ("FFB" or "the Company")
- Acceptance of Purchase Orders
 
Contents
:

INTRODUCTION

The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Favelle Favco Cranes Pty Ltd (Australia), Favelle Favco Cranes (M) Sdn Bhd, Kroll Cranes A/S (Denmark) and Favelle Favco Cranes Pte Ltd (Singapore) had accepted the purchase orders ("the Contracts") as set out in the Tables Section below in the months of May, June and July 2010. The approximate combined value of the substantial orders secured amounts to RM106.4 million.

FINANCIAL EFFECTS

The Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2010 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 of FFB or persons connected to the Directors or major shareholders of FFB has any direct or indirect interest in the Contracts.

DIRECTORS’ STATEMENT

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

This announcement is dated 2 August 2010.


Announcement Details :

 

Contracts secured by Customer Brief description of the Contracts Duration of the Contracts
Favelle Favco Cranes Pty Ltd Marr Contracting Pty Ltd Supply of Tower Crane which is expected to be delivered by end of 2010
Favelle Favco Cranes (M) Sdn Bhd National Petroleum Construction Company Supply of Offshore Crane which is expected to be delivered by early of 2011
Favelle Favco Cranes (M) Sdn Bhd Northport (Malaysia) Bhd Supply of Port Crane which is expected to be delivered by mid of 2011
Kroll Cranes A/S JCM U-Link Joint Venture Supply of Tower Crane which is expected to be delivered by end of 2010
Favelle Favco Cranes Pty Ltd Lindores Construction Logistics Supply of Tower Crane which is expected to be delivered by end of 2010
Favelle Favco Cranes Pte Ltd Keppel Fels Limited Supply of Offshore Crane which is expected to be delivered by mid of 2011
Favelle Favco Cranes (M) Sdn Bhd Essar Offshore Subseas Limited Supply of Offshore Crane which is expected to be delivered by early of 2011
Favelle Favco Cranes (M) Sdn Bhd PTSC Mechanical And Construction Supply of Offshore Crane which is expected to be delivered from mid of 2011 to end of 2011



 

 
    
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