Tuesday, December 20, 2011

Favelle Favco edges up on securing new contracts

KUALA LUMPUR (Dec 20): FAVELLE FAVCO BHD [] shares rose on Tuesday after its units secured five separate purchase orders worth a combined RM72.3 million to supply four offshore cranes and one tower crane.

At 9.15am, Favelle Favco added three sen to RM1.26 with 25,000 shares done.

Favelle Favco Cranes (M) Sdn Bhd had received four contracts to supply offshore cranes each to SMOE Pte Ltd, Technics Offshore Engineering Pte Ltd, China Communications Import & Export Corporation and China Merchant Heavy Industry (Shenzhen) Co. Ltd respectively.

It said the cranes the first three parties would be delivered by end 2012, while the fourth would be supplied between end 2012 and early 2013.

Meanwhile, Kroll Cranes A/S had received a contract to supply a tower crane to GRPM, to be delivered by mid 2012.


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