Favelle Favco Bhd announces that it has secured new contracts worth a combined RM131.7 million for the supply of tower and offshore cranes to customers across several markets.
The crane manufacturer said its subsidiaries, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pty Ltd, received the purchase orders and a letter of intent between Aug 21 and Sept 8, 2026.
Favelle Favco Cranes (M) secured an order from Shinwoo Development Co Ltd for the supply of a tower crane, which is expected to be delivered by the end of 2026.
The Malaysian subsidiary also secured an offshore crane order from PVD Trading and Technical Services Joint Stock Company, with delivery expected by mid-2027.
Another offshore crane contract was awarded by Zhuhai Jutal Offshore Oil Services Limited, with deliveries scheduled in stages from the second to the third quarter of 2027.
Meanwhile, Favelle Favco Cranes Pty Ltd received an order from Marr Contracting Pty Ltd for the supply of tower cranes, with delivery targeted by the end of 2026.
The contracts are expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2026 and beyond.
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