Favelle Favco’s earnings prospects positive

MIDF Research is confident that Favelle Favco will be able to sustain its operations, and will be occupied with more orders well into FY22 as demand for oil recovers.

KUALA LUMPUR: The outlook for Favelle Favco Bhd appears positive, as its recent contract wins signal a recovery for the oil and gas sector.

The company recently 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.