PETALING JAYA: Favelle Favco Bhd's (FFB) subsidiary, Favelle Favco Cranes (M) Sdn Bhd, has secured RM88.8mil worth of purchase orders and letters of intent from three clients.

In a filing with Bursa Malaysia, FFB noted two of the contracts are for the supply of offshore cranes to Saipem Offshore Construction SPA and Malaysia Marine & Heavy Engineering Sdn Bhd, both scheduled for delivery by end-2027.

The third contract is from OceanMight Sdn Bhd for the supply of a crane by the third quarter of 2027.

Financially, the contracts are expected to contribute positively to FFB’s earnings and net assets for the financial year ending Dec 31, 2026 and beyond.

FFB added the contracts reinforce its position as a leading offshore crane supplier. The orders also strengthen its forward order book, provide visibility into 2027 and highlight continued demand from the oil and gas and heavy engineering sectors.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.