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Favelle Favco secures RM79 million worth of contracts
by Cals Fri 22 Mar 2013, 01:59
Favelle Favco secures RM79 million worth of contracts
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 21 March 2013 17:53
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KUALA LUMPUR (Mar 21): Crane builder FAVELLE FAVCO BHD [] has secured four orders with a combined value of some RM78.8 million from global clients. The company had secured the contracts between February and March this year.
In a statement to the exchange today, Favelle Favco said the buyers - PT McDermott Indonesia, Hyundai Heavy Industries Co Ltd, Kencana Marine Drilling Sdn Bhd, and Labuan Shipyard & Engineering Sdn Bhd have each ordered an offshore crane from the manufacturer.
"The above contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending December 31, 2013 and beyond.
"The contracts do not have any impact on the share capital and shareholding structure of Favelle Favco," the company said.
The cranes are due for delivery to the customers between the end of this year and the first quarter of 2014, according to Favelle Favco which is a 62%-owned subsidiary of MUHIBBAH ENGINEERING (M) BHD [].
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 21 March 2013 17:53
A + / A - / Reset
KUALA LUMPUR (Mar 21): Crane builder FAVELLE FAVCO BHD [] has secured four orders with a combined value of some RM78.8 million from global clients. The company had secured the contracts between February and March this year.
In a statement to the exchange today, Favelle Favco said the buyers - PT McDermott Indonesia, Hyundai Heavy Industries Co Ltd, Kencana Marine Drilling Sdn Bhd, and Labuan Shipyard & Engineering Sdn Bhd have each ordered an offshore crane from the manufacturer.
"The above contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending December 31, 2013 and beyond.
"The contracts do not have any impact on the share capital and shareholding structure of Favelle Favco," the company said.
The cranes are due for delivery to the customers between the end of this year and the first quarter of 2014, according to Favelle Favco which is a 62%-owned subsidiary of MUHIBBAH ENGINEERING (M) BHD [].
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