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Favelle Favco secures contracts worth RM77.6mil

The Star·08/08/2025 11:17:00
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KUALA LUMPUR: Favelle Favco Bhd has secured six supply contracts worth a total of RM77.6mil through its subsidiaries, Shanghai Favco Engineering Machinery Manufacturing Co Ltd, Favelle Favco Cranes (M) Sdn Bhd, and Favelle Favco Cranes (USA), Inc.

In a filing with Bursa Malaysia, Favelle Favco said Shanghai Favco secured a supply contract from Favco Heavy Industry (Changshu) Co Ltd for a tower crane, which is expected to be delivered by the end of 2025.

Favelle Favco Cranes won four contracts to supply offshore cranes to Malaysia Marine and Heavy Engineering Sdn Bhd, Offshore Oil Engineering Co Ltd, PVD Trading and Technical Services Joint Stock Company, and Abu Adel Engineering and Mechanical Services, with deliveries expected between the first and third quarters of 2026.

Meanwhile, Favelle Favco Cranes (USA) secured a contract from Leavitt Cranes to supply a tower crane, with delivery scheduled for the third quarter of 2026.

The contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2025 and beyond.