Favco announced that its wholly-owned subsidiary, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pte Ltd had received total of RM110.4 million purchase orders or Letter of Intent (“Contracts”) respectively in the months of July and August 2012
The above Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2012 and beyond.
Chong - you're more familiar as I see you keep good track of this stock.Yes a good counter to keep. I only have a small position and will definitely add if it were to go lower because it does not have the volume thus the wild rides. definitely not for short term.
FAVCO received a total of 89.6 million ringgit offshore crane purchase contract, the expected contribution of the fiscal year as of the beginning of the end of December this year.
FAVCO received purchase orders for 2011 & 2012 : 17/02/11=123.2 mil 12/04/11= 89.5 mil 19/05/11= 50.3 mil 09/06/11= 70.3 mil 27/07/11= 79.3 mil 04/08/11= 93.4 mil 19/12/11= 72.3 mil Total in 2011 = RM 578.3 mil (contribute to FY2011, FY2012 and FY2013)
05/04/12=102.1 mil 18/05/12= 60.1 mil 25/06/12= 71.5 mil 08/08/12=110.4 mil 04/09/12= 89.6 mil Total in 2012(so far) = RM433.7 mil (contribute to FY2012, FY2013 and 2014)
Its orderbook currently stands at RM715m, of which approximately 71% is from the O&G industry, 18% for construction (tower cranes etc) and 11% for shipyard cranes.
Propose the issuance of 31,678,743 new ordinary shares of RM0.50 each at issue price of RM1.5181 for consideration of proposed acquisition of11.6 acres land from MEB of AUD15,000,000. Refer circular dated 17 Oct. 2012.
FAVCO is a great counter. Excellent buying opportunity now.
Only shortcoming is the relatively low dividend pay-out rate. Hope the situation will improve in the coming Final Q report because of large cash position in hand.
value, are you happy with the results? are you worry about the 'The decrease in profit before tax is mainly contributed by recognize of costs incurred.'?
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keatming
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Posted by keatming > 2012-08-08 18:59 | Report Abuse
Favco announced that its wholly-owned subsidiary, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pte Ltd had received total of RM110.4 million purchase orders or Letter of Intent (“Contracts”) respectively in the months of July and August 2012
The above Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2012 and beyond.
Detail:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1032529