Favco up this morning... waiting to sell at 1.23
Favelle Favco Bhd, a Malaysian crane maker, rose in Kuala Lumpur trading after securing contracts totalling RM89.5 million to supply four offshore cranes.
The stock gained 1.8 per cent to RM1.14 at 9:41 a.m. -- Bloomberg
Read more: Favelle Favco gains on crane contract win http://www.btimes.com.my/Current_News/BTIMES/articles/20110413095212/Article/index_html#ixzz1JNCQKq7T
Showing posts with label Favco. Show all posts
Showing posts with label Favco. Show all posts
Tuesday, April 12, 2011
Wednesday, January 26, 2011
Consortium bags RM1.07b Petronas job
PETRONAS Gas Bhd has awarded a RM1.07 billion contract to build a liquefied natural gas regasification unit to a consortium comprising Muhibbah Engineering (M) Bhd and Perunding Ranhill Worley Sdn Bhd.
The engineering, procurement, construction, installation and commissioning (EPCIC) deal is for the regasification unit, Island Berth and subsea pipeline for the project in Malacca.
It said in a statement to Bursa Malaysia that the consortium is expected to start construction in April for completion by the end of July 2012.
Read more: Consortium bags RM1.07b Petronas job http://www.btimes.com.my/Current_News/BTIMES/articles/20110127000121/Article/index_html#ixzz1CCpjyxe8
The engineering, procurement, construction, installation and commissioning (EPCIC) deal is for the regasification unit, Island Berth and subsea pipeline for the project in Malacca.
It said in a statement to Bursa Malaysia that the consortium is expected to start construction in April for completion by the end of July 2012.
Read more: Consortium bags RM1.07b Petronas job http://www.btimes.com.my/Current_News/BTIMES/articles/20110127000121/Article/index_html#ixzz1CCpjyxe8
Saturday, January 15, 2011
Muhibah by Philips Capitals
I think Favco will benefit from is as it is the son to Muhibah with involve in crane for construction sector.
Stock Snippet – Muhibbah Engineering (M) Bhd
We met the management of Muhibbah 2 days
ago in CIMB Corporate Day.
Beneficiary of 10MP and ETP – Given Muhibbah’s strong 36 years track record as a contractor specialising in onshore works, oil and gas(O&G), marine and offshore works. Muhibbah is expected to benefit from 10MP spending on construction sector and ETP’s emphasis on the O&G sector. Per the management, they have tendered for various construction jobs such as the RM7bn LRT extension/upgrade works and construction of terminal jetty worth RM200m-300m which is part of Dialog’s RM3.5 bn deepwater petroleum terminal facility.
Recovery in Asia Petroleum Hub (APH) –
Per the management, they are expecting APH Source: Bloomberg long-drawn payment issue to be resolved in 1Q11. This is positive for Muhibbah as the funds inflow will save approx. RM12m interest costs and reduce its net gearing, thereby enhancing its capacity to finance more new projects in future.
Exclusive Rights for Privatisation of Cambodian International Airports – The management reiterated the fact that via Muhibbah’s 30% owned Societe Concessionaire de l’ Aeroport (SCA), SCA have exclusive rights for all international airports in Cambodia until year 2040 allowing them to earn airport related management fees. This buoys well for Muhibbah given the booming tourism and O&G industry in Cambodia.
In the Running for Vale’s RM3 bn Project– The management is also optimistic with their maritime terminal
construction track record which will enable them to clinch a slice of Vale’s RM3 bn maritime terminal and stockyard facility in Perak. The potential value of Muhibbah’s scope of work is approx. RM500m- 1 bn.
For the first 3 quarters, the EPS grew to 6.2 sen including 3rd quarter EPS of 2.2 sen, On an annualised basis, Muhibbah is trading at 21.4x FY2010 earnings. Its share price went up in anticipation of Muhibbah securing more contracts from now on. Price is running ahead of fundamental for the time being.
Recommendation: We are Neutral on Muhibbah.
Share Price: RM1.80
Stock Snippet – Muhibbah Engineering (M) Bhd
We met the management of Muhibbah 2 days
ago in CIMB Corporate Day.
Beneficiary of 10MP and ETP – Given Muhibbah’s strong 36 years track record as a contractor specialising in onshore works, oil and gas(O&G), marine and offshore works. Muhibbah is expected to benefit from 10MP spending on construction sector and ETP’s emphasis on the O&G sector. Per the management, they have tendered for various construction jobs such as the RM7bn LRT extension/upgrade works and construction of terminal jetty worth RM200m-300m which is part of Dialog’s RM3.5 bn deepwater petroleum terminal facility.
Recovery in Asia Petroleum Hub (APH) –
Per the management, they are expecting APH Source: Bloomberg long-drawn payment issue to be resolved in 1Q11. This is positive for Muhibbah as the funds inflow will save approx. RM12m interest costs and reduce its net gearing, thereby enhancing its capacity to finance more new projects in future.
Exclusive Rights for Privatisation of Cambodian International Airports – The management reiterated the fact that via Muhibbah’s 30% owned Societe Concessionaire de l’ Aeroport (SCA), SCA have exclusive rights for all international airports in Cambodia until year 2040 allowing them to earn airport related management fees. This buoys well for Muhibbah given the booming tourism and O&G industry in Cambodia.
In the Running for Vale’s RM3 bn Project– The management is also optimistic with their maritime terminal
construction track record which will enable them to clinch a slice of Vale’s RM3 bn maritime terminal and stockyard facility in Perak. The potential value of Muhibbah’s scope of work is approx. RM500m- 1 bn.
For the first 3 quarters, the EPS grew to 6.2 sen including 3rd quarter EPS of 2.2 sen, On an annualised basis, Muhibbah is trading at 21.4x FY2010 earnings. Its share price went up in anticipation of Muhibbah securing more contracts from now on. Price is running ahead of fundamental for the time being.
Recommendation: We are Neutral on Muhibbah.
Share Price: RM1.80
Wednesday, November 10, 2010
Favco is coming back
HI Guy.
Favco is moving up follow his mother Muhibah...this stock have been trading high volume lately with good FA... Maybe good news...Hope to sell off my Favco when it 1.16..
Favco is moving up follow his mother Muhibah...this stock have been trading high volume lately with good FA... Maybe good news...Hope to sell off my Favco when it 1.16..
Monday, August 2, 2010
Favelle Favco secures RM106.4m orders
Go go go Favco....
KUALA LUMPUR: FAVELLE FAVCO BHD []'s units have secured RM106.4 million in orders to deliver tower cranes and offshore cranes by this year end to end-2011.
The company said on Monday, Aug 2 the approximate combined value of the substantial orders secured amounts to RM106.4 million.
"The contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2010 and beyond," it said.
The companies which ordered the cranes were Marr Contracting Pty Ltd, National Petroleum CONSTRUCTION [] Company, Northport (Malaysia) Bhd, JCM U-Link Joint Venture, Lindores Construction Logistics, Keppel Fels Limited, Essar Offshore Subseas Limited and PTSC Mechanical And Construction.
KUALA LUMPUR: FAVELLE FAVCO BHD []'s units have secured RM106.4 million in orders to deliver tower cranes and offshore cranes by this year end to end-2011.
The company said on Monday, Aug 2 the approximate combined value of the substantial orders secured amounts to RM106.4 million.
"The contracts are expected to contribute positively to the earnings and net assets of Favelle Favco for the financial year ending Dec 31, 2010 and beyond," it said.
The companies which ordered the cranes were Marr Contracting Pty Ltd, National Petroleum CONSTRUCTION [] Company, Northport (Malaysia) Bhd, JCM U-Link Joint Venture, Lindores Construction Logistics, Keppel Fels Limited, Essar Offshore Subseas Limited and PTSC Mechanical And Construction.
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