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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.
KUALA LUMPUR (March 8): Crane maker Favelle Favco Bhd (FFB) said it has received orders for the supply of offshore and tower cranes amounting to RM101.4 million from six clients.
In a bourse filing today, the group 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.
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 six contracts which are expected to contribute positively to the earnings and net assets of the group for the financial year ending Dec 31, 2021 and beyond are estimated to be delivered between the second quarter of 2021 and the second quarter of 2022.