Kuala Lumpur:Favelle Favco Bhd's unit, Favelle Favco Cranes (M) Sdn Bhd, has achieved a significant milestone by securing contracts valued at RM88.8 million for the delivery of offshore cranes. The contracts have been awarded by Saipem Offshore Construction SPA, Malaysia Marine and Heavy Engineering Sdn Bhd, and OceanMight Sdn Bhd. According to BERNAMA News Agency, the manufacturer announced in a Bursa Malaysia filing that the offshore cranes for Saipem Offshore Construction and Malaysia Marine and Heavy Engineering are slated for delivery by the end of 2027. The contract with OceanMight is expected to reach completion by the third quarter of 2027. The company anticipates that these contracts will positively impact the earnings and net assets of Favelle Favco Bhd for the financial year ending December 31, 2026, and beyond. It was also noted that the contracts will not affect the share capital and shareholding structure of the company.