PETALING JAYA: Favelle Favco Bhd
(FFB) has announced that its subsidiaries, Favelle Favco Cranes (USA) Inc and Favelle Favco Cranes (M) Sdn Bhd have secured contracts worth RM42.6mil to supply tower and offshore cranes.
In a filing with Bursa Malaysia, the group said one contract was awarded to its subsidiary Favelle Favco Cranes (USA) Inc for a tower crane, scheduled for delivery in the first quarter of 2027 (1Q27) to Florida-based Select Crane Sales, LLC.
Three other contracts were secured by its other subsidiary, Favelle Favco Cranes, to supply offshore cranes to DESB Marine Services Sdn Bhd, a wholly-owned subsidiary of Dayang Enterprise Holdings Bhd; Malaysia Marine and Heavy Engineering Sdn Bhd, a wholly-owned subsidiary of Malaysia Marine and Heavy Engineering Holdings Bhd (MHB); and Brooke Holding Sdn Bhd, a Sarawak government-linked company.
The crane for DESB Marine Services is expected in the 2Q27, while the cranes for the other two companies are slated for the 1Q27.
“The 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 group said.Yesterday, Favelle Favco closed on sen or 0.62% lower at RM1.59 a share.
