Favelle Favco's earnings prospects rise on oil and gas recovery

KUALA LUMPUR: MIDF Research has reiterated its positive view on Favelle Favco Bhd as its recent contract wins signal a recovery for the oil and gas sector.

Recently, Favelle Favco announced that its subsidiaries have secured eight purchase orders for offshore cranes, tower cranes, a compressor system, solar system and upgrading with a combined value of about RM121.1mil.