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Favelle Favco is proud to power construction on Jeddah Tower in Saudi Arabia. Recognised globally as the crane maker responsible for 12 of the world’s 14 tallest buildings, Favelle Favco has once again been entrusted as the preferred partner.
Recently the company website show alot of job offering~
From project manager, planner, engineer to coordinator. All specific in o&g!
Guess they alrdy clinched some contracts
-Crane: sales relative stable but hurt by one off forex loss
-Airport: Q-Q lower passengers as seasonal reason; but Y-Y still recorded 19% up
-Construction: low outstanding order-book;
If nothing special events, should report single digit million profit.
Upcoming should focus more on:
-any new contract award in Q3 (mentioned during Agm)
-possible special dividend from SCA?
Carey Island cargo port, Westports 2 expansion and Port of Tanjung Pelepas expansion were mentioned. We estimate that they could avail a whopping MYR45.5 bil worth of jobs.
Potential beneficiaries of the port ‘megaprojects’ are Muhibbah Engineering, IJM and WCT.
