OTHERS FAVELLE FAVCO BERHAD (“FFB” or “the Company”) – ACCEPTANCE OF PURCHASE ORDERS

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

FAVELLE FAVCO BERHAD

INTRODUCTION

The Board of Directors of FFB is pleased to announce that its subsidiaries, Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pty Limited and Sedia Teguh Sdn Bhd had received the following purchase orders or Letter of Intent (“Contracts”) respectively from 30 November 2023 and up to the date of announcement:-

The approximate combined value of the above substantial orders secured amounting to RM79.4 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 2024 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 17 January 2024.