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OTHERS FAVELLE FAVCO BERHAD ("FFB" or "the Company") ACCEPTANCE OF PURCHASE ORDERS

FAVELLE FAVCO BERHAD

Type Announcement
Subject OTHERS
Description
FAVELLE FAVCO BERHAD ("FFB" or "the Company")
ACCEPTANCE OF PURCHASE ORDERS

INTRODUCTION

The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Favelle Favco Cranes Pty. Limited and Favelle Favco Cranes (M) Sdn Bhd had received the following purchase orders or Letter of Intent (“Contracts”) respectively from June 2018 and up to the date of announcement:-

Contracts secured by

Customer

Brief description of the Contracts

Duration of the Contracts

Favelle Favco Cranes Pty. Limited

Multiplex Constructions Pty Ltd

Supply of Tower Crane

which is expected to be delivered by third quarter of 2018

Favelle Favco Cranes Pty. Limited

SMC Plant & Equipment Pty Ltd

Supply of Offshore Crane

which is expected to be delivered by third quarter of 2018

Favelle Favco Cranes (M) Sdn Bhd

Malaysia Marine and Heavy Engineering Sdn Bhd

Supply of Offshore Crane

which is expected to be delivered by end of 2019

Favelle Favco Cranes (M) Sdn Bhd

Emdad LLC

Supply of Offshore Crane

Staggered delivery from third quarter of 2019 to second quarter of 2020

The approximate combined value of the above substantial orders secured amount to RM80.4 million.

FINANCIAL EFFECTS

The above Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2018 and beyond. The Contracts do not have any impact on the share capital and shareholding structure of FFB.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the above Contracts.

DIRECTORS' STATEMENT

The Board of Directors of FFB is of the opinion that the acceptance of the above Contracts is in the best interest of FFB.

This announcement is dated 29 October 2018.






Announcement Info

Company Name FAVELLE FAVCO BERHAD
Stock Name FAVCO
Date Announced 29 Oct 2018
Category General Announcement for PLC
Reference Number GA1-29102018-00073



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