<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 23): Favelle Favco Bhd said it has bagged RM56.1 million in purchase orders for its cranes since Aug 27.</p></div>

<div class=newsTextDataWrapInner><p>The company said its subsidiary Favelle Favco Cranes (M) Sdn Bhd will be supplying an offshore crane to ExxonMobile Exploration and Production Malaysia Inc. It is expected to be delivered in the first quarter of 2021 (1Q21).</p></div>

<div class=newsTextDataWrapInner><p>Two other subsidiaries, Favelle Favco Cranes (USA) Inc and Favelle Favco Pty Ltd, have won contracts to supply tower cranes to TES Inc and Noronha Holdings Pty Ltd (trading as Rhemza Cranes Pty Ltd) respectively.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The tower cranes are to be delivered by 2Q21 and 4Q20 respectively, Favelle Favco said in a filing with Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>"The above contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2020 and beyond," the group said. "The contracts do not have any impact on the share capital and shareholding structure of Favelle Favco."</p></div>

<div class=newsTextDataWrapInner><p>Favelle Favco shares finished 1.29% or three sen lower at RM2.30, valuing the company at RM515.07 million. The counter saw 225,300 shares transacted.</p></div>


Favelle Favco Bhd said it has bagged RM56.1 million in purchase orders for its cranes since Aug 27.

Favelle Favco clinches purchase orders totalling RM56.1m

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Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
