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Announcement - FAVELLE FAVCO BERHAD ("FFB" or "the Company") - Acceptance of Purchase Orders

Company Name FAVELLE FAVCO BERHAD  
Stock Name FAVCO    
Date Announced 4 Sept 2012  
Category General Announcement
Reference No CC-120904-58434

FAVELLE FAVCO BERHAD
04/09/2012 05:11:17 PM

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 (M) Sdn Bhd and Favelle Favco Cranes Pty Ltd had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the months of August and September 2012:-
Contracts secured by Customer Brief description of the Contracts Duration of the Contracts
Favelle Favco Cranes (M) Sdn Bhd Consortium of P.T. Pal Indonesia(Persero)-Offshore Oil Engineering Co., Ltd Supply of Offshore Crane which is expected to be delivered by mid of 2013
Favelle Favco Cranes Pty Ltd Technip France Supply of Offshore Crane which is expected to be delivered from end 2013 to end of 2014
The approximate combined value of the above substantial orders secured amount to RM89.6 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 2012 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 are in the best interest of FFB.

This announcement is dated 4 September 2012.

    
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