Favelle Favco Berhad
Favelle Favco Berhad is subsidiary of Muhibbah Engineering (M) Berhad. In 1995 Muhibbah Engineering acquired crane specialists, the Favelle Favco Group (FFB) to complement its construction activities. FFB has now 2 main divisions, the Crane division and the Intelligent Automation division.
The Crane Division comprise 2 international brands, Favelle Favco and Kroll. FFB is home to the largest hammerhead crane in the world, the Kroll K10,000, and the largest luffing tower crane in the world, the Favelle Favco M2480. FFB’s reputation for building the world’s fastest cranes has cemented its position in the market for the construction of super high-rise buildings, having constructed 8 out of 10 of the world’s tallest buildings ever built. Its full range of products and services includes offshore cranes, tower cranes, wharf cranes, rental of cranes, service and maintenance. They have 7 operating facilities (Malaysia, Australia, Denmark, the USA, China, Singapore and the UAE) with a total workforce of approximately 1050 teammates spanning the globe. This global structure allows FFB to build these heavy lift cranes as close to the delivery point as economically feasible.
The Intelligent Automation Division (“Exact Group”) comprises many business segments which include Automation, Control and Instrumentation, Rotating Machinery systems, Renewable Energy systems, Gas and Liquid Analysis systems, Valves Automation and Industrial Information Digital systems. Exact Group currently holds more than 20 live maintenance contracts established with most of the oil majors in Malaysia. The Group provides systems for Rotating Machinery like compressors and turbines and supplies hybrid solar and wind turbine solutions for offshore facilities. They further provide various gas and liquid analytical equipment including portable and fixed detection systems as well as fire and gas systems. The Industrial Information systems supplied by Exact Group include pipeline monitoring and plant intelligence solutions.
For the financial year ended 31 December 2020, FFB achieved a full year’s revenue of RM554 million and pre-tax profits of RM64.4 million. The Exact Automation group posted a revenue of RM126 million whilst the crane division posted a revenue of RM428 million. During the year, FFB further invested RM63 million in crane assets to augment its tower crane rental fleet. These investments were planned before the pandemic hit and fortunately, the rental business continued to stay reasonably buoyant. FFB had cash and cash equivalents of RM310 million as at 31 December 2020.It has an order book of RM516 million, inclusive of the Exact Group, as at 3 May 2021.
Mac Chung Hui, 42, took over from his father, Mac Ngan Boon as Managing Director of FFB on 26th August 2013. He was before that the Deputy Managing Director of the FFB Group since 5 May 2004 and was subsequently in the same year appointed Chief Executive Officer of FFB. Mac Chung Hui holds a Bachelor of Civil Engineering degree from the University of Nottingham, United Kingdom. He has also been overseeing the production and operation of Favelle Favco Cranes Pty Limited (“FFA”) and Favelle Favco Cranes (M) Sdn Bhd (“FFM”) over the past twenty (20) years.
Mac Ngan Boon @ Mac Yin Boon, 77, remains an Executive Director of FFB. He is the Group Managing Director of Muhibbah Engineering which he founded in 1972. He holds a Bachelor of Engineering (Civil) degree from the University of Western Australia (1967). He is a professional engineer and a member of the Institute of Engineers Malaysia. He has been the Chairman of the Machinery and Equipment Manufacturers Association of Malaysia (MEMA) since 1998 and the Chairman of the Machinery and Engineering Industries Federation (MEIF)) since 2016.
As at 3 May 2021 the single largest shareholder of Favelle Favco Berhad is Muhibbah Engineering (M) Berhad with a direct stake of 58.5%.
Mac Ngan Boon has a direct stake of 4.23% and is deemed interested in the major stake held by Muhibbah Engineering via his direct substantial interest in Muhibbah Engineering. (Muhibbah Engineering is posted on this website under Family Biz – Listed companies).
- Favelle Favco Berhad. Annual Report 2020. http://www.favellefavco.com/ir/annualreport/favco-annual_report_2020.pdf
- Favelle Favco – A Brief History. http://www.favellefavco.com/main-history.php