Favelle Favco secures three contracts worth RM119.9 million

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KUALA LUMPUR (Sep 3): Favelle Favco Bhd has received three purchase orders for heavy machinery equipment worth RM119.9 million.

The  orders involve the supply of offshore and tower cranes which the company expects to deliver throughout 2015, a company statement says today.

The three purchase orders or letters of intent were received from China Merchants Heavy Industry (Jiangsu) Co Ltd, Form 700 Pty Ltd and Shanghai Shipyard Co Ltd.

The company expects the contracts to contribute positively to its earnings for the financial year ending Dec 31, 2014 and beyond.

It says the contracts do not have any impact on the share capital and shareholding structure of FFB.