Favelle Favco Bhd has secured four contracts worth a total of RM42.6 million to supply tower and offshore cranes.
This marks the group’s second round of contract wins this year, following RM76.3 million in orders secured in January.
In a Bursa Malaysia filing on Wednesday, Favelle Favco said its wholly-owned subsidiary, Favelle Favco Cranes (USA) Inc, will supply tower cranes to Select Crane Sales, LLC, with deliveries expected in the first quarter of 2027.
The other three contracts involve offshore cranes, which will be supplied by Favelle Favco Cranes (M) Sdn Bhd to DESB Marine Services Sdn Bhd, Malaysia Marine and Heavy Engineering Sdn Bhd, and Brooke Holding Sdn Bhd. Deliveries are scheduled for the first and second quarters of next year.
The group said these contracts are expected to contribute positively to earnings and net assets for the financial year ending Dec 31, 2026, and beyond.
AskEdge data shows Favelle Favco has trailing 12-month EBITDA margins of 14.6% and a return on equity of 6.4%.
Shares in Favelle Favco closed one sen, or 0.63%, lower at RM1.59 on Wednesday, giving the company a market capitalisation of RM377 million.
