The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Favelle Favco Cranes Pty Ltd (Australia), Favelle Favco Cranes (M) Sdn Bhd, Kroll Cranes A/S (Denmark) and Favelle Favco Cranes Pte Ltd (Singapore) had accepted the purchase orders ("the Contracts") as set out in the Tables Section below in the months of May, June and July 2010. The approximate combined value of the substantial orders secured amounts to RM106.4 million.
The Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2010 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 of FFB or persons connected to the Directors or major shareholders of FFB has any direct or indirect interest in the Contracts.
The Board of Directors of FFB is of the opinion that the acceptance of the Contracts are in the best interest of FFB.
This announcement is dated 2 August 2010.