KUALA LUMPUR: RHB Research is maintaining its Buy recommendation on crane manufacturer Favelle Favco and raises the fair value to RM3.60.
Favelle Favco secured three offshore crane orders from DP Offshore Engineering, Cosco Shipyard (Guangdong) and Essar Projects (India) for RM61.5mil, raising the total offshore cranes ordered year-to-date (YTD) to 17 units.
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