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Announcement - FAVELLE FAVCO BERHAD ("FFB" or "the Company") - Acceptance of Purchase Orders
General Announcement
Reference No CC-120405-38912

 
Company Name
:
FAVELLE FAVCO BERHAD  
Stock Name
:
FAVCO  
Date Announced
:
05/04/2012  

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

Announcement Details/Table Section :

INTRODUCTION

The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Favelle Favco Cranes Pty Ltd, Favelle Favco Cranes (M) Sdn Bhd and Kroll Cranes A/S had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the months of March 2012 and April 2012:-

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 2012
Favelle Favco Cranes (M) Sdn Bhd Joffren Omar Company Sendirian Berhad Supply of Offshore Crane which is expected to be delivered by early of 2013
Favelle Favco Cranes (M) Sdn Bhd Sarawak Shell Berhad Supply of Offshore Crane which is expected to be delivered by early of 2013
Favelle Favco Cranes (M) Sdn Bhd KCA Deutag Tender Barges Pte Ltd Supply of Offshore Crane which is expected to be delivered by mid of 2012
Kroll Cranes A/S TTCC - Kiewit-Kvaerner Contractors Supply of Tower Crane & Spare Parts which is expected to be delivered from end 2012 to early of 2013

The approximate combined value of the above substantial orders secured amount to RM102.1 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 2012 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 5 April 2012.

    
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