Favelle Favco Group

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Favelle Favco Group (MYX: 7229) is a manufacturer of construction cranes under the brands Favelle Favco and Kroll.[1] The company's main plant is based south of Kuala Lumpur, Malaysia,[citation needed] with production facilities and engineering offices also located in Sydney,[2] China,[3] Texas[4] and Denmark.[citation needed]

The company's shares are traded on the Main Board of Bursa Malaysia, formerly known as the Kuala Lumpur Stock Exchange. It is partially owned by Muhibbah Engineering.

In 2012, its market capitalization was RM250 million, sales averaged RM490 million annually, and profits were RM29 million over the last five years.[5] In 2013, annual revenue for the company was approximately RM764 million, with profits of just under RM65 million.[6] In October 2014, its market capitalization was around RM700 million.[7]

Company history[edit]

Muhibbah Engineering acquired Favelle Favco in 1995.[8]

Products[edit]

The company produces offshore cranes with lift capacities of up to 1,000 tonnes.[5] In July 2013, RHB Research reported that 85% of Favelle Favco's 2013 year-to-date crane orders were offshore cranes.[9]

The company also specializes in tower cranes that can lift heavy loads quickly,[5] with the Favelle Favco M760's top lift speed at 160 metres (520 ft) per minute.[10] Its cranes were used to construct some of the tallest skyscrapers ever built, including the World Trade Center in New York and its replacement, One World Trade Center,[10] as well as the Burj Khalifa, Taipei 101, the Petronas Twin Towers, and the Shanghai World Financial Centre.[5]

Favco has built the world's largest tower crane, nicknamed "Tinkerbell", which is capable of lifting up to 330 tonnes.[11]

References[edit]

  1. ^ Govindan, Kaladher (24 July 2006). "Favelle Favco Berhad: Cranks Up The Cranes" (PDF). TA Securities Holdings Berhad. p. 2. Retrieved 25 October 2014. 
  2. ^ "Favelle favco’s Taipei tower crane topples from its testbed". Cranes Today. 5 December 1999. Retrieved 15 October 2014. 
  3. ^ Mustaza, Fatin Rasyiqah (4 September 2013). "Favelle Favco powers on in China". The Edge. Retrieved 15 October 2014. 
  4. ^ "Malaysian moves". Cranes Today. 7 January 2005. Retrieved 15 October 2014. 
  5. ^ a b c d Wan Yan (June 23, 2012). "On top of the world". The Star. 
  6. ^ Horwath, Crowe; Chan Kuan Chee, James (18 April 2014). "Favelle Favco Berhad and its subsidiaries: Financial statements for the year ended 31 December 2013" (PDF). Bursa Malaysia. p. 11. Retrieved 15 October 2014. 
  7. ^ "FFB:Bursa Malays Stock Quote - Favelle Favco Bhd". Bloomberg L.P. Retrieved 15 October 2014. 
  8. ^ "Muhibbah makes its mark". Cranes Today. 1 March 1998. Retrieved 15 October 2014. 
  9. ^ "RHB Research maintains Buy on Favelle Favco". The Star. July 4, 2013. 
  10. ^ a b "Favelle Favcos return to World Trade Centre site". Cranes Today. 1 December 2006. Retrieved 15 October 2014. 
  11. ^ Wheeldon, David (June 13, 2012). "Sydney’s Central Park architectural innovation calls in world's largest tower crane". 

External links[edit]