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Announcement - FAVELLE FAVCO BERHAD ("FFB" or "the Company") - Acceptance of Purchase Orders
General Announcement
Reference No CU-101027-51607

 

Company Name
:
FAVELLE FAVCO BERHAD  
Stock Name
:
FAVCO  
Date Announced
:
27/10/2010  

 

Type
:
Announcement
Subject
:
FAVELLE FAVCO BERHAD ("FFB" of "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) and Favelle Favco Cranes (M) Sdn Bhd had received the purchase orders ("the Contracts") as set out in the Tables Section below in the months of September and October 2010. The approximate combined value of the above substantial orders secured amount to RM66.7 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 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 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 27 October 2010.

Announcement Details :

Contracts secured by Customer Brief description of the Contracts Duration of the Contracts
Favelle Favco Cranes Pty Ltd Azerbaijan International Operating Company Supply of Offshore Crane which is expected to be delivered by end of 2011
Favelle Favco Cranes (M) Sdn Bhd Jurong Port Pte Ltd Supply of Port Crane which is expected to be delivered by end of 2011
Favelle Favco Cranes (M) Sdn Bhd DESB Marine Services Sdn Bhd Supply of Offshore Crane which is expected to be delivered by mid of 2011
Favelle Favco Cranes (M) Sdn Bhd GeoSea (Luxembourg) S.A. Supply of Offshore Crane which is expected to be delivered by early of 2011
Favelle Favco Cranes (M) Sdn Bhd Murphy Sabah Oil Co. Ltd Supply of Spare Parts For a duration of two years

 



    
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