KUALA LUMPUR: Favelle Favco Bhd
(FFB) has secured three contracts worth RM45.5mil to supply offshore and tower cranes.
In a filing with Bursa Malaysia, FFB said its subsidiaries, Favelle Favco Cranes (M) Sdn Bhd and Kroll Cranes A/S received the purchase orders.
The contracts secured by Favelle Favco Cranes are from Malaysia Marine and Heavy Engineering Sdn Bhd and Ocean Might Sdn Bhd for the supply of offshore cranes.
The contracts are expected to be delivered by end of 2023 and early 2024.
The contract secured by Kroll Cranes is from Daewoo Shipbuilding & Marine Engineering Co., Ltd for the supply of tower crane. It is expected to be delivered by end-2023.
“The contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending Dec 31, 2023 and beyond. The contracts do not have any impact on the share capital and shareholding structure of FFB,” FFB said.
