Favelle Favco contract win reaffirms O&G sector recovery


Dateline 2021-07-23, The Malaysian Reserve:

FAVELLE Favco Bhd’s (FFB) contract wins are a sign of recovery for the oil and gas (O&G) sector, according to analysts.

MIDF Amanah Investment Bank stated that at least five out of the eight contracts clinched by FFB recently are for offshore activities, including the compressor system and upgrade works.

“We concur with FFB’s positive stance on recovery from the impact of Covid-19 pandemic with the vaccine rollout in the countries.

“The group will continue to be vigilant of the economic recovery, especially in the crane sector.

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