KUALA LUMPUR, Crane manufacturer Favelle Favco Bhd announced that its subsidiaries have secured six new purchase orders for the supply of tower and offshore cranes, with a combined value of RM77.6 million.
According to the company’s filing with Bursa Malaysia on Friday, four of the contracts involve offshore cranes to be delivered by Favelle Favco Cranes (M) Sdn Bhd to Malaysia Marine and Heavy Engineering Sdn Bhd, Offshore Oil Engineering Co Ltd, PVD Trading and Technical Services Joint Stock Company, and Abu Adel Engineering and Mechanical Services.
The remaining two orders are for tower cranes, to be supplied by Shanghai Favco Engineering Machinery Manufacturing Co Ltd to Favco Heavy Industry (Changshu) Co Ltd, and by Favelle Favco Cranes (USA) Inc to Leavitt Cranes.
Delivery timelines vary, with two contracts scheduled for completion by end-2025 and the first quarter of 2026, while the other four are expected to be fulfilled by the third quarter of 2026.
These latest orders push Favelle Favco’s outstanding order book to RM797 million, up from RM528 million in February this year. The company has been on a steady winning streak, having secured five orders worth RM43.9 million in May, following RM147.1 million in contracts won in March.
Favelle Favco’s share price remained unchanged at RM1.58 on Friday, giving the group a market capitalisation of RM374.73 million. However, the counter has declined by 8% year-to-date.
