Favelle Favco Bhd has clinched three new contracts to supply tower and offshore cranes, with a total value of RM76.3 million.
According to a Bursa Malaysia filing on Monday, the orders were awarded to the group’s wholly owned subsidiaries, Favelle Favco Cranes Pty Ltd and Favelle Favco Cranes (M) Sdn Bhd. Delivery of the cranes is expected by the end of 2026 and the first quarter of 2027.
The company said the contracts are set to positively impact its earnings and net assets for the financial year ending Dec 31, 2026, and beyond.
These latest wins follow Favelle Favco’s announcement on Nov 25 of RM79 million in contracts for four additional cranes. As of Nov 12, the group’s outstanding order book stood at RM519 million.
Shares of Favelle Favco closed five sen, or 3.1%, higher at RM1.65 on Monday, giving the company a market capitalisation of RM391.35 million. The stock has remained largely stable over the past year.
