| Company Name | : | FAVELLE FAVCO BERHAD |
| Stock Name | : | FAVCO |
| Date Announced | : | 21 Mar 2013 |
| Category | : | General Announcement |
| Reference Number | : | CC-130321-80255 |
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 subsidiary, Favelle Favco Cranes (M) Sdn Bhd had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the months of February 2013 and March 2013:-
| Contracts secured by | Customer | Brief description of the Contracts | Duration of the Contracts |
| Favelle Favco Cranes (M) Sdn Bhd | PT McDermott Indonesia | Supply of Offshore Crane | which is expected to be delivered by end of 2013 |
| Favelle Favco Cranes (M) Sdn Bhd | Hyundai Heavy Industries Co., Ltd | Supply of Offshore Crane | which is expected to be delivered by first quarter of 2014 |
| Favelle Favco Cranes (M) Sdn Bhd | Kencana Marine Drilling Sdn Bhd | Supply of Offshore Crane | which is expected to be delivered by first quarter of 2014 |
| Favelle Favco Cranes (M) Sdn Bhd | Labuan Shipyard & Engineering Sdn Bhd | Supply of Offshore Crane | which is expected to be delivered by first quarter of 2014 |
The approximate combined value of the above substantial orders secured amount to RM78.8 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 21 March 2013.