【FAVCO 7229 交流专区】辉高

Tony-Pua

7229    FAVCO    FAVELLE FAVCO BHD

1st & final dividend 30% T.E.

Entitlement Details: A first and final tax exempt dividend of 30% (15 sen) per ordinary share of RM0.50 each in respect of the financial year ended 31 December 2015 Entitlement Type: First & Final Dividend Entitlement Date and Time: 01/08/2016  05:00 AM Year Ending/Period Ending/Ended Date: 31/12/2015 EX Date: 28/07/2016 To SCANS Date: Payment Date: 11/08/2016

Tony-Pua

7229    FAVCO    FAVELLE FAVCO BHD

Quarterly rpt on consolidated results for the financial period ended 31/03/2016

Quarter: 1st Quarter Financial Year End: 31/12/2016 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/03/2016 31/03/2015 31/03/2016 31/03/2015 RM '000 RM '000 RM '000 RM '000 1 Revenue 152,945 200,766 152,945 200,766 2 Profit/Loss Before Tax 18,536 29,686 18,536 29,686 3 Profit/(loss) attributable to ordinary equity holders of the parent 11,373 22,497 11,373 22,497 4 Net Profit/Loss For The Period 11,231 22,664 11,231 22,664 5 Basic Earnings/Loss Per Shares (sen) 5.18 10.34 5.18 10.34 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 2.5100 2.5000

icy97

油價建築業若續低迷 輝高短期內難見曙光

2016年5月30日
（吉隆坡30日訊）假設低油價和建築領域低迷局勢持續，輝高（FAVCO，7229，主要板工業）在短期內難有重返光輝時期的催化因素。

英特太平洋證券研究將輝高投資評級下修至“賣出”，目標價每股為2.43令吉。假設低油價環境和建築領域低迷局勢持續，該公司在短期內沒有重返光輝時期的推動因素。

不過，該公司的資產負債表依舊強勁，每股約1.55令吉，因此希望輝高可在未來找到收購機會。

相較2014年達10億9100萬令吉的高峰期，輝高現有訂單數額跌超過55%至6億400萬令吉。

輝高管理層估計短期未來市場局勢仍具挑戰，受油氣領域資本開銷顯著減少，以及建築領域持續受壓迫所致。因此該行認為油價前景將持續對該司帶來挑戰，而且輝高有許多起重機工作料在今年交付。【中国报财经】

icy97

辉高起重机事故遭索偿2564万

2016年6月12日
（吉隆坡11日讯）辉高（FAVCO，7229，主板工业产品股）因一宗牵涉到公司起重机的事故，而遭到索偿632万2400.68美元（约2564万2953令吉）。

辉高在文告中指出，独资子公司辉高起重机（马）私人有限公司，遭到Carigali Hess Operating Company私人有限公司（简称CHOC）索偿。

公司对此索偿存有异议，且会进行抗辩，但目前要评估有关行动的结果，仍属言之过早。【e南洋】

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Carigali Hess Operating Company Sdn Bhd v Favelle Favco Cranes (M) Sdn Bhd
The Board of Directors of Favelle Favco Berhad ("FFB") wishes to announce that Carigali Hess Operating Company Sdn Bhd (“CHOC”) has filed arbitration proceedings against Favelle Favco Cranes (M) Sdn Bhd (“FFCM”), a wholly-owned subsidiary of FFB, for a claim of USD 6,322,400-68 in respect of an incident involving a Favelle Favco crane. FFCM is disputing and challenging the claim and the management are of the opinion that it is premature to assess the outcome of the actions at this point in time. This announcement is dated 10 June 2016.

哭哭鸟

辉高FAVCO - 高股息，低估值，但值得拥有吗？
Author: RicheHo   |   Publish date: Mon, 11 Jul 2016, 08:27 PM
http://klse.i3investor.com/blogs/rhinvest/99846.jsp

FAVCO在2006年上市于大马主要板，主要业务为制造及提供起重机。它是【MUHIBBAH】60%拥有的子公司。FAVCO所制造的起重机品牌是知名的【Favelle Favco】和【Kroll】。此外，FAVCO拥有5间工厂，分别座落在 马来西亚，澳大利亚，丹麦，美国和中国。

自2012年起，FAVCO的业绩可说是非常出色，销售额和盈利已经连续进步4年。管理层也很大方派息。如无意外，FAVCO应该是大马唯一一家连续7年增加股息的上市公司。它的股息从2008年的2.5 cent逐年增加至2015年的15cent。FAVCO的财务基本上都没什么问题，目前握有RM300m的净现金，相等于每股RM1.36。

以目前的股价RM2.56来计算，FAVCO的PE是6.7x，ROE是15%，D/Y是5.86%。从估值的角度来看，FAVCO的确是很便宜，但为何股价却没什么冲劲，反而还在下跌的趋势?笔者相信大部分股民往往都是以过去的业绩和估值来判断一间公司是否值得拥有，而不是以未来的业绩来衡量。这就是问题所在。

在2015年，FAVCO 84%的订单是来自O&G行业。换句话说，FAVCO的订单取决于O&G行业的好坏。近两年，油价从高峰每桶120美金左右，跌至最低每桶27美金。油价的暴跌造成了很多O&G行业的公司面临裁员，业绩大跌甚至是出现亏损。这也间接影响了FAVCO所获得的订单额。FAVCO在2014年油价最高峰时，手上的订单曾高达RM1.1b!之后当油价开始下跌时，FAVCO的订单也扶摇直下至目前的RM604m，是自2013年以来最低！

再翻看FAVCO近年得到的订单，如下：
2014年 = RM375.2m
2015年 = RM138.5m
2016年 = RM64.0m (截至7/11)

FAVCO所获得的订单额已出现严重的下降！目前手上的RM604m订单预计只能耗上1年，就耗完了。以现在O&G的行情来看，FAVCO的订单补充率恐怕不乐观。为了应对，FAVCO在甘马挽设立了一间服务中心，希望从客户群中获得起重机修理和维护的长期订单，来增加收入。但，这应对措施也预计起不到太大的效果。此外，FAVCO也希望能在起重机行业寻找潜在收购对象。基于起重机行业普遍上都是那几家，笔者相信成功机率不大，短期内也不见得会有消息。

到底FAVCO值上多少钱呢？FAVCO今年的营业额预计在RM650m左右。以10%净利率（过去5年平均）来计算，它的净利是RM65m，相等于每股29.45 cent。再以10倍的PE来推算，FAVCO在今年的潜在价值大约是每股RM2.95m。

FAVCO目前拥有每股RM1.36净现金在手，派息根本就不是问题。但，试想下如果今年业绩不理想，FAVCO是否还会派上那么多的股息吗？就算会，也只是用来安慰股东们。FAVCO过去3年的派息额是净利的30-35%。以每股29.45cent的净利来计算，笔者预计FAVCO今年只会派出每股10cent的股息。

总结，FAVCO预计将在2016下半年和2017年，受到较为严重的打击。如无意外，它接下来几个季度的业绩肯定退步。基于FAVCO拥有大量的现金在手和4-5%的股息率，股价的跌幅也有限。预计这未来1至2年，FAVCO的股价会在RM2.30和RM2.80之间移动。

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2016	30 Jun 2015	30 Jun 2016	30 Jun 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	166,161	198,597	319,106	399,363
2	Profit/(loss) before tax	26,465	26,895	45,001	56,581
3	Profit/(loss) for the period	19,008	16,508	30,239	39,172
4	Profit/(loss) attributable to ordinary equity holders of the parent	19,896	16,586	31,269	39,083
5	Basic earnings/(loss) per share (Subunit)	9.03	7.61	14.22	17.95
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.4400		2.5000

icy97

輝高獲總值7060萬起重機合約

2016年11月02日
（吉隆坡2日訊）輝高（FAVCO，7229，主要板工業）宣佈，旗下3家獨資子公司分別在9月及10月獲頒4份總值7060萬令吉合約，以供應塔式起重機（tower crane）及岸外起重機（Offshore Crane）。

據輝高向馬證交所報備文告指，旗下獨資子公司Kroll Cranes A/S、Favelle Favco Cranes私人有限公司及Favelle Favco Cranes（馬）私人有限公司獲頒上述4份合約。

上述合約的客戶包括HHIC-Phil Korea、Federal Hardware Engineering私人有限公司、Energy Solution Management私人有限公司及MISC offshore Floating Terminals（L）有限公司。

文告指，上述子公司將陸續于2017年第2季開始至明年底前交貨。【中国报财经】

Type	Announcement
Subject	OTHERS
Description	FAVELLE FAVCO BERHAD ("FFB" or "the Company")ACCEPTANCE OF PURCHASE ORDERS
INTRODUCTION The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Kroll Cranes A/S, Favelle Favco Cranes Pte. Ltd and Favelle Favco Cranes (M) Sdn Bhd had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the month of September 2016, October 2016 and up to the date of announcement:- Contracts secured by Customer Brief description of the Contracts Duration of the Contracts Kroll Cranes A/S HHIC-Phil Korea Supply of Tower Crane which is expected to be delivered by second quarter of 2017 Favelle Favco Cranes Pte. Ltd Federal Hardware Engineering Co. Pte Ltd Supply of Offshore Crane which is expected to be delivered from second quarter of 2017 to third quarter of 2017 Kroll Cranes A/S Energy Solution Management Co. Ltd Supply of Tower Crane which is expected to be delivered by second quarter of 2017 Favelle Favco Cranes (M) Sdn Bhd MISC Offshore Floating Terminals (L) Limited Supply of Offshore Crane which is expected to be delivered by end of 2017 The approximate combined value of the above substantial orders secured amount to RM70.6 million. FINANCIAL EFFECTS The above Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2016 and beyond. The Contracts do not have any impact on the share capital and shareholding structure of FFB. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the above Contracts. DIRECTORS' STATEMENT The Board of Directors of FFB is of the opinion that the acceptance of the above Contracts is in the best interest of FFB. This announcement is dated 2 November 2016.

哭哭鸟

【FAVELLE FAVCO BERHAD】- 一家全能但是少了成长的公司-创二代
Author: GoldenEggs   |   Publish date: Tue, 29 Nov 2016, 11:59 AM
http://klse.i3investor.com/blogs/Goldeneggs/110385.jsp

今天就来分享一家我本身很欣赏的公司但是却没有买进的优质公司，原因我等下会慢慢说，首先我不会放这家公司进我推荐的公司名单里面。FAVCO是我每天上班的时候一定会经过他的Fabrication site,经过看到Muhibbah 的大船还有很多吊机，心理都是很羡慕，有一天笔者我也想要这么成功。

FAVCO是一家基本面非常强劲的公司，而且价钱非常便宜，他也是在我的便宜名单里非常靠前的公司。就像我常常和我的客户说的一样，便宜很多时候是有原因的，而我们就是要在这些公司里，大胆地对Market说，你错了，我对。

FAVCO是很多magic formula investor 的公司，符合cheap and good的标准。而我也是每个季度都会紧盯这些公司的业绩，等待对的时机才买入。

FAVCO也是一家拥有我非常欣赏的管理层的公司，所以我为他们打抱不平，好公司，没人要，烂公司，每天在forum吵吵闹闹。目前FAVCO市值512M，365.05M的现金，28M的债务以及大约90M一年的Cash Flow。苦的是笔者没钱，假如我有一大笔钱，我会想takeover这家公司。但是稳定的大量现金中也是无法有效用于收购来赚更多钱的事实，所以不一定适合每个人的胃口。

而这家公司主要的问题是他提供的吊机主要在Oil&Gas的领域，所以公司在目前油价低迷的状况下，订单正在减少中，无法赚更多的钱来回馈股东，也就是我所说的缺乏了成长，其他方面都很好，如果你不在意短期的盈利下降，有耐心收股息长期持有，这是一家很好的公司，可以看到公司派息都有在4%左右的水平，而且公司财务状况很稳定，适合喜欢收息的投资者。公司的ROE也长期维持在平均15%以上，要知道这是被大幅现金拉低后的ROE，所以公司在业务上有多么节流？

而真正吸引我的地方是FAVCO的吊机是名牌，大多数世界上最高的建筑物都是由FAVCO的吊机来建照，包括我们国家的PetronasTwinTower，Taipei101还有很多，懒惰打，总之都是就是了。

而公司老板正是MuhibbahEngineering的公子，而姐姐正在经营Nando's 也是我很爱的餐馆。

icy97

辉高第3季赚2316万

2016年11月29日
（吉隆坡28日讯）辉高（FAVCO，7229，主板工业产品股）截至9月杪第三季，净利按年下跌25.69%，至2316万7000令吉或每股净利10.46仙。

上财年同期为净赚3117万5000令吉，或每股净利14.27仙。

第三季营业额按年大跌55.46%，至1亿2639万8000令吉，低于上财年同期的2亿8381万3000令吉。

累计首9个月，净利按年下跌22.52%，至5443万6000令吉；营业额也下跌34.79%，至4亿4550万4000令吉。

辉高首9个月净利下跌，与领域情况及订单疲弱相符，归咎于销售下跌。

尽管现有市场充满挑战，截至2016年11月22日，集团从全球油气、造船、建筑，以及风力发电机领域所获的未完成订单达6亿3430万令吉。

集团将采取适当的措施和行动，以迎合未来业务经营。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2016	30 Sep 2015	30 Sep 2016	30 Sep 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	126,398	283,813	445,504	683,176
2	Profit/(loss) before tax	18,716	40,438	63,717	97,019
3	Profit/(loss) for the period	22,990	30,985	53,229	70,157
4	Profit/(loss) attributable to ordinary equity holders of the parent	23,167	31,175	54,436	70,258
5	Basic earnings/(loss) per share (Subunit)	10.46	14.27	24.70	32.23
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.5700		2.5000

icy97

辉高获6400万合约

2017年1月4日
（吉隆坡3日讯）辉高（FAVCO，7229，主板工业产品股）独资子公司，获得4项供应塔式起重机的合约，总值达6400万令吉。

今日，辉高马交所报备，旗下三家独资子公司Kroll Cranes A/S、辉高Cranes私人有限公司与辉高Cranes（美国）公司，从去年12月至今日，共获得4项供应塔式起重机的合约，预计在今年次季和第三季交货。

至于颁发合约给公司的客户，则分别是ALE英国控股、Marr Contracting私人有限公司、TES机构，以及Stride High私人有限公司。

辉高指，这些合约对本财年起的净利和净资产带来贡献。【e南洋】

Type	Announcement
Subject	OTHERS
Description	FAVELLE FAVCO BERHAD ("FFB" or "the Company")ACCEPTANCE OF PURCHASE ORDERS
INTRODUCTION The Board of Directors of FFB is pleased to announce that its wholly-owned subsidiary, Kroll Cranes A/S, Favelle Favco Cranes Pty. Limited and Favelle Favco Cranes (USA), Inc had received the following purchase orders or Letter of Intent (“Contracts”) respectively in the month of December 2016 and up to the date of announcement:- Contracts secured by Customer Brief description of the Contracts Duration of the Contracts Kroll Cranes A/S ALE UK Holdings Supply of Tower Crane which is expected to be delivered by third quarter of 2017 Favelle Favco Cranes Pty. Limited Marr Contracting Pty Ltd Supply of Tower Crane which is expected to be delivered by second quarter of 2017 Favelle Favco Cranes (USA), Inc TES, Inc Supply of Tower Crane which is expected to be delivered by second quarter of 2017 Favelle Favco Cranes Pty. Limited Stride High Pty Ltd Supply of Tower Crane which is expected to be delivered by second quarter of 2017 The approximate combined value of the above substantial orders secured amount to RM64.0 million. FINANCIAL EFFECTS The above Contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending 31 December 2017 and beyond. The Contracts do not have any impact on the share capital and shareholding structure of FFB. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the above Contracts. DIRECTORS' STATEMENT The Board of Directors of FFB is of the opinion that the acceptance of the above Contracts is in the best interest of FFB. This announcement is dated 3 January 2017.

哭哭鸟

7229                                                            

Quarterly rpt on consolidated results for the financial period ended 31/12/2016

Quarter: 4th Quarter Financial Year End: 31/12/2016 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/12/2016 31/12/2015 31/12/2016 31/12/2015 RM '000 RM '000 RM '000 RM '000 1 Revenue 136,769 184,172 582,273 867,348 2 Profit/Loss Before Tax 16,103 21,257 79,820 118,276 3 Profit/Loss After Tax and Minority Interest 20,027 24,448 74,463 94,706 4 Net Profit/Loss For The Period 18,625 23,709 71,854 93,866 5 Basic Earnings/Loss Per Shares (sen) 9.05 11.14 33.75 43.40 6 Dividend Per Share (sen) 15.00 15.00 15.00 15.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 2.6700 2.5000

icy97

Type	Announcement
Subject	OTHERS
Description	FAVELLE FAVCO BERHAD ("FFB" or "the Company")- Proposed First and Final Dividend
The Board of Directors of FFB is pleased to recommend a first and final tax exempt dividend of 15 sen per ordinary share in respect of the financial year ended 31 December 2016. The declaration of the first and final tax exempt dividend is subject to the approval of the Company's shareholders at the forthcoming Annual General Meeting of the Company. The dividend entitlement and payment dates will be determined by the Board of Directors at a later date. This announcement is dated 23 February 2017.

icy97

FAVELLE FAVCO BERHAD

EX-date	05 Sep 2017
Entitlement date	07 Sep 2017
Entitlement time	05:00 PM
Entitlement subject	First and Final Dividend
Entitlement description	A first and final tax exempt dividend of 15 sen per ordinary share in respect of the financial year ended 31 December 2016.
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	07 Sep 2017   to   07 Sep 2017 closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHDUnit 32-01, Level 32, Tower A,Vertical Business Suite, Avenue 3, Bangsar South,No. 8, Jalan Kerinchi59200 Kuala LumpurTel:0327839299Fax:0327839222
Payment date	20 Sep 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	07 Sep 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.15
Par Value	Malaysian Ringgit (MYR) 0.000

icy97

辉高首季净利涨13%

2017年5月25日
（吉隆坡24日讯）辉高（FAVCO，7229，主板工业产品股）截至3月杪首季，净利按年上涨12.87%至1283万7000令吉，或每股净利5.8仙。

辉高向交易所报备，该公司上财年同期净赚1137万3000令吉，或每股净利5.18仙。

不过，基于销售下跌，导致税前盈利从上财年同期的1853万6000令吉，下跌9.62%至1675万3000令吉。

同期营业额则下跌25.27%，从上财年同期的1亿5294万5000令吉，减至1亿1429万6000令吉。

尽管目前的市场充满挑战，不过截至今年5月17日，该公司从全球油气、造船、建筑，以及风力发电机领域所获的未完成订单高达6亿1210万令吉。

该公司将采取适当的措施和行动，以迎合未来业务经营。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	114,296	152,945	114,296	152,945
2	Profit/(loss) before tax	16,753	18,536	16,753	18,536
3	Profit/(loss) for the period	12,991	11,231	12,991	11,231
4	Profit/(loss) attributable to ordinary equity holders of the parent	12,837	11,373	12,837	11,373
5	Basic earnings/(loss) per share (Subunit)	5.80	5.18	5.80	5.18
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.7600		2.6700

icy97

辉高
起重机难救油气业务

2017年6月20日

分析：INTER-PACIFIC研究
目标价：2.73令吉

最新进展

辉高（FAVCO，7229，主板工业产品股）2017财年首季营业额录得1.14亿令吉，按年跌25.3%。净利则录得1300万，年增15.7%，表现盈利逊于预期，仅达我们全年预测的17%，归咎于岸外起重机的需求不振。

截止5月，现有订单总值6.12亿令吉，可让公司持续忙碌至明年上半年为止。值得注意的是，辉高的订单自2015年底以来已消耗逾40%。

行家建议

我们重申辉高的“中和”评级，并调高目标价至2.73令吉，是根据市值相近的华商控股（WASEONG，5142，主板工业产品股），设下10倍现行本益比的估值。

根据2016年财报，全球油气行情不佳，业者推迟钻油台的交付时间。

因今年油气业仍持续疲软，我们降低了今明两年的盈利预测，缺乏新订单和油气业压低成本导致赚幅收窄，让辉高难以扭转目前盈利表现。

相较之下，建筑起重机市场相对较好，岸上风力涡轮机市场的强劲需求，抵消了部分冲击。但是，这些业务的赚幅仍低于油气业，无法完全替补油气订单下跌的损失。



【e南洋】

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	151,068	166,161	265,364	319,106
2	Profit/(loss) before tax	21,070	26,465	37,823	45,001
3	Profit/(loss) for the period	19,559	19,008	32,550	30,239
4	Profit/(loss) attributable to ordinary equity holders of the parent	19,437	19,896	32,274	31,269
5	Basic earnings/(loss) per share (Subunit)	8.78	9.03	14.58	14.22
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.6900		2.6700

icy97

辉高购4公司控制权 扩大盈利来源
Tan Xue Ying/theedgemarkets.com
October 05, 2017 20:10 pm MYT

（吉隆坡5日讯）起重机制造商辉高（Favelle Favco Bhd）计划以8740万令吉，收购4家工程与自动化相关公司的控制权，以增强和扩大盈利来源。

辉高今日向大马交易所报备，已签署暂定协议，分别收购Exact Automation、Sedia Teguh、Exact Analytical，以及Exact Oil & Gas私人有限公司的70%股权。

辉高表示，最终收购价将包括8740万令吉的参阅价，这是根据目标公司2016财政年经调整税后盈利的8倍计算，以及直到2019年的3个财年增量考量。

如果被收购的公司在未来3年达到累积盈利的最低门槛，那么增量考量将生效。

这些公司主要提供工程服务、工业自动化解决方案，以及主要用于石油与天然气行业的专用设备，截至2016年12月31日止财年的合共经审核税后盈利为1530万令吉。

在完成对目标公司的精密审核后，辉高将在暂定协议日的3个月内签署买卖协议。

（编译：陈慧珊）

Type	Announcement
Subject	OTHERS
Description	FAVELLE FAVCO BERHAD (THE "COMPANY" OR "FAVCO")HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN EACH OF THE FOLLOWING COMPANIES: (I)        EXACT AUTOMATION SDN BHD;(II)        SEDIA TEGUH SDN BHD;(III)        EXACT ANALYTICAL SDN BHD; AND(IV)        EXACT OIL & GAS SDN BHD(ITEMS (I) TO (IV) ABOVE ARE COLLECTIVELY REFERRED TO AS "TARGET COMPANIES")
The Board of Directors of the Company (“Board”) wishes to announce that the Company had on 5 October 2017 entered into a Heads of Agreement (“HOA”) with a group of individual vendors to acquire seventy percent (70%) equity interests in each of the Target Companies (“Proposed Acquisition”). Pursuant to the HOA, the Company and the Vendors (collectively, the “Parties”) have agreed to negotiate exclusively the detailed terms and conditions in relation to the Proposed Acquisition with the intention of entering into a definitive conditional share sale and purchase agreement (“SPA”), shareholders' agreements and other related documentation. A detailed announcement on the Proposed Acquisition will be made upon finalisation of the terms and conditions and execution of the SPA. Please refer to the attachment for further details on the HOA. This announcement is dated 5 October 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5564945

Attachments 2017-10-05 final - Announcement HOA (attachment).pdf

icy97

巩固起重机行业地位
辉高8740万入股4公司受看好

2017年10月6日
（吉隆坡6日讯）辉高（FAVCO，7229，主板工业产品股）与四家公司签署暂定协议，以8740万令吉，收购个别公司的70%股权，该举动获得分析员正面看待。

这四家公司分别是EXACT AUTOMATION私人有限公司、SEDIA TEGUH私人有限公司、EXACT ANALYTICAL私人有限公司以及EXACT油气私人有限公司。

MIDF研究分析员正面看待该协议，因为这能够进一步巩固辉高在领域的地位，故上调评级至“买进”，但维持2.92令吉的目标价格。

尽管现在缺乏海上起重机的订单，但辉高的地位依旧屹立不倒。

分析员指出，收购价相等于是2016财年净利的8倍。

若目标公司在2017至2019财年达到特定的净利门槛，辉高料会提升收购价。

无论如何，分析员认为，目前的暂定收购价是合理的。截至6月30日，辉高的现金企于3.799亿令吉。

由于还未正式签署买卖合约，因此，分析员仍维持财测不变。

然而，若交易顺利，预计每年净利会增长1500万至2000万令吉，相等于是每股净利上涨7至9仙。

该公司可借此提供更多服务，进一步提高其在油气业的曝光率。

此外，四家公司的其中一家——EXACT油气，持有国油执照。

未完成订单5.36亿

截至8月17日，辉高的未完成订单企于5亿3640万令吉。

虽然减少了，但大部分的订单仍由海上起重机所组成，其余则来自船厂、建筑和风力发电领域。

分析员主要是看好该股的订单组合有所改变，基建相关项目增加、净现金状况、持续派息及合理的周息率。



【e南洋】

哭哭鸟

icy97

辉高第三季净利跌13%

2017年11月24日
（吉隆坡23日讯）辉高（FAVCO，7229，主板工业产品股）截至9月30日第三季，净赚2012万6000令吉或每股9.09仙，按年跌13.13%。

辉高今日向交易所报备，营业额年涨33%，报1亿6815万令吉。

首九个月净利，按年减3.74%至5240万令吉；营业额按年降2.69%至4亿3351万4000令吉。

而税前盈利年增1.35%，报6457万4000令吉，原因是集团现金管理产生较高的利息收入。

尽管目前市场前景充满挑战，不过截至11月17日，辉高从全球油气、造船、建筑，以及风力发电机领域所获的未完成订单达4亿9630万令吉。

辉高将采取适当的措施和行动，以迎合未来业务经营。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	168,150	126,398	433,514	445,504
2	Profit/(loss) before tax	26,751	18,716	64,574	63,717
3	Profit/(loss) for the period	20,378	22,990	52,928	53,229
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,126	23,167	52,400	54,436
5	Basic earnings/(loss) per share (Subunit)	9.09	10.46	23.67	24.70
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.7800		2.6700