Favelle Favco
KENANGA Research has a “buy” call on heavy-duty crane maker Favelle Favco Bhd
following the release of its first quarter results, which were in line with expectations. The brokerage said Favelle Favco, a subsidiary of Muhibah Engineering Bhd, had an order book exceeding RM400mil and remained attractive, trading at 15 and 12 times the estimated 2007 and 2008 price-to-earnings ratio respectively. An analyst with the brokerage said it was also well positioned to capitalise on the current oil and gas boom via its relationship with Muhibah Engineering in Malaysia and abroad.
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