Company Name |
FAVELLE FAVCO BERHAD |
Stock Name |
FAVCO |
Date Announced |
19 Mar 2025 |
Category |
General Announcement for PLC |
Reference Number |
GA1-19032025-00026 |
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") |
INTRODUCTION
The Board of Directors of FFB is pleased to announce that its subsidiaries, Shanghai Favco Engineering Machinery Manufacturing Co. Ltd., Favelle Favco Cranes Pty Limited and Favelle Favco Cranes (M) Sdn Bhd had received the following purchase orders or Letter of Intent ("Contracts") respectively from 26 February 2025 and up to the date of announcement:-
Contracts secured by |
Customer |
Brief description of the Contracts |
Duration of the Contracts |
Shanghai Favco Engineering Machinery Manufacturing Co. Ltd. |
Favco Heavy Industry (Changshu) Co Ltd |
Supply of Tower Crane |
Staggered delivery from the second quarter of 2025 to third quarter of 2025 |
Favelle Favco Cranes Pty Limited |
Marr Contracting Pty Ltd |
Supply of Tower Crane |
which is expected to be delivered by third quarter of 2025 |
Favelle Favco Cranes (M) Sdn Bhd |
Servizi Energia Italia S.p.A. |
Supply of Offshore Crane |
Staggered delivery from end of 2025 to first quarter of 2026 |
Favelle Favco Cranes (M) Sdn Bhd |
Favelle Favco Machinery and Equipment L.L.C |
Supply of Offshore Crane |
which is expected to be delivered by second quarter of 2026 |
Favelle Favco Cranes (M) Sdn Bhd |
Malaysia Marine And Heavy Engineering Sdn. Bhd |
Supply of Offshore Crane |
which is expected to be delivered by end of 2025 |
The approximate combined value of the above substantial orders secured amounting to RM147.1 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 2025 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 19 March 2025.