rose over 4% in early trade Tuesday after securing orders worth RM101.4mil from six clients operating across the region.
The crane maker added 4.59%, or 10 sen to RM2.28. It is trading at a P/E ratio of 5.87 times.
Favelle Favco said its wholly-owned subsidiaries, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pty Ltd, have secured the orders since Dec 1, 2020.
It said the six clients are DESB Marine Services Sdn Bhd, Resolution Rigging Services Pty Ltd, PT Megatama Internal, Offshore Oil Engineering Co Ltd, Thai Nippon Steel Engineering & Construction Co Ltd, and Saipem SPA.
The contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2021 and beyond, it said.