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Favelle Favco Bhd To Acquire Crane Fabrication Yard In Australia From Muhibbah Engineering (M) Bhd

Monday, 19 Nov 2012 02:03am EST 

Favelle Favco Bhd announced its proposed acquisition of a crane fabrication yard comprising freehold industrial land, buildings and improvements, located at Prestons, New South Wales, Australia, with a total land area measuring approximately 11.6 acres from Muhibbah Engineering (M) Bhd for a total purchase consideration of AUD 15,000,000.00 (equivalent to MYR 48,091,500.00), to be satisfied via the issuance of 31,678,743 new ordinary shares of MYR 0.50 each in Company's shares. 

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