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

Company Name FAVELLE FAVCO BERHAD
Stock Name FAVCO
Date Announced 02 Nov 2016
Category General Announcement for PLC
Reference Number GA1-02112016-00028

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, Kroll Cranes A/S, Favelle Favco Cranes Pte. Ltd and Favelle Favco Cranes (M) Sdn Bhd had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the month of September 2016, October 2016 and up to the date of announcement:-

Contracts secured by

Customer

Brief description of the Contracts

Duration of the Contracts

Kroll Cranes A/S

HHIC-Phil Korea

Supply of Tower Crane

which is expected to be delivered by second quarter of 2017

Favelle Favco Cranes Pte. Ltd

Federal Hardware Engineering Co. Pte Ltd

Supply of Offshore Crane

which is expected to be delivered from second quarter of 2017 to third quarter of 2017

Kroll Cranes A/S

Energy Solution Management Co. Ltd

Supply of Tower Crane

which is expected to be delivered by second quarter of 2017

Favelle Favco Cranes (M) Sdn Bhd

MISC Offshore Floating Terminals (L) Limited

Supply of Offshore Crane

which is expected to be delivered by end of 2017

The approximate combined value of the above substantial orders secured amount to RM70.6 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 2016 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 2 November 2016.

    
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