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FAVELLE FAVCO BERHAD ("FFB" or "the Company") ACCEPTANCE OF PURCHASE ORDERS
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 wholly-owned subsidiaries, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pty. Limited had received the following purchase orders or Letter of Intent (“Contracts”) respectively from 1 December 2020 and up to the date of announcement:- 
Contracts secured by
Customer
Brief description of the Contracts
Duration of the Contracts
Favelle Favco Cranes (M) Sdn Bhd
DESB Marine Services Sdn Bhd
Supply of Offshore Crane
which is expected to be delivered by second quarter of 2021
Favelle Favco Cranes Pty. Limited
Resolution Rigging Services Pty Ltd
Supply of Tower Crane
which is expected to be delivered by second quarter of 2021
Favelle Favco Cranes (M) Sdn Bhd
PT Megatama Internal
Supply of Offshore Crane
which is expected to be delivered by end of 2021
Favelle Favco Cranes (M) Sdn Bhd
Offshore Oil Engineering Co. Ltd
Supply of Offshore Crane
which is expected to be delivered by third quarter of 2021
Favelle Favco Cranes (M) Sdn Bhd
Thai Nippon Steel Engineering & Construction Co. Ltd.
Supply of Offshore Crane
which is expected to be delivered by end of 2021
Favelle Favco Cranes (M) Sdn Bhd
Saipem S.P.A.
Supply of Offshore Crane
Staggered delivery from first quarter of 2022 to second quarter of 2022
The approximate combined value of the above substantial orders secured amount to RM101.4 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 2021 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 8 March 2021.

    
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