PETALING JAYA: Favelle Favco Bhd
’s subsidiaries have secured three crane orders worth a combined RM76.3mil.
In a filing with the local bourse, the crane manufacturer said its subsidiary Favelle Favco Cranes Pty Ltd received a letter of intent from Reko Diq Mining Company (Private) Ltd for the supply of a tower crane, expected to be delivered by the end of 2026.
Meanwhile, its other subsidiary, Favelle Favco Cranes (M) Sdn Bhd, secured orders from OceanSTAR Elite Marine & Offshore Services Pte Ltd and Thai Nippon Steel Engineering and Construction Corp Ltd for offshore cranes, with deliveries scheduled for the first quarter of 2027 and the end of 2026, respectively.
“The above contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2026 and beyond,” the company noted.
Favelle Favco said the acceptance of the contracts is in the best interest of the company.
