The Board of Directors of Favelle Favco Berhad to recommend a first and final taxable dividend, less tax of 25% of 1.35 sen per share and tax exempt dividend of 6.65 sen per share for the financial year ended December 31, 2012. The declaration of the first and final dividend is subject to the approval of the company's shareholders at the forthcoming Annual General Meeting.

Favelle Favco Berhad announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenues of MRY 171,372,000 compared with MRY 178,952,000 for the same period a year ago. Profit from operating activities was MRY 5,852,000 compared with MRY 28,225,000 for the same period a year ago. Operating profit was MRY 11,032,000 compared with MRY 23,484,000 for the same period a year ago. Profit before tax was MRY 10,677,000 compared with MRY 23,301,000 for the same period a year ago. Profit attributable to owners of the company was MRY 13,118,000 or 6.52 sen per diluted share compared with MRY 20,221,000 or 11.07 sen per diluted share for the same period a year ago. The increase in revenue was mainly due to increase in sales from crane segment which due to global recovery in investment in equipment and good execution of several high margin projects. For the full year, the company reported revenues of MRY 696,472,000 compared with MRY 482,353,000 for the same period a year ago. Profit from operating activities was MRY 62,780,000 compared with MRY 56,982,000 for the same period a year ago. Operating profit was MRY 67,252,000 compared with MRY 52,875,000 for the same period a year ago. Profit before tax was MRY 66,416,000 compared with MRY 52,193,000 for the same period a year ago. Profit attributable to owners of the company was MRY 61,746,000 or 32.85 sen per diluted share compared with MRY 47,606,000 or 26.18 sen per diluted share for the same period a year ago. Net cash generated from operating activities was MRY 40,440,000 compared with MRY 63,135,000 for the same period a year ago. Acquisition of property, plant and equipment was MRY 33,130,000 compared with MRY 23,780,000 for the same period a year ago.

Favelle Favco Berhad announced that Tan Sri A. Razak Bin Ramli has been re-designated from Independent Non-Executive Director to Senior Independent Non-Executive Director and subsequently was appointed as the Chairman of the Nominating Committee in replacement of Tuan Haji Mohamed Taib bin Ibrahim with effect from January 18, 2013. He is also a member of Audit and Remuneration Committee. Tan Sri Dato’ Seri Ahmad Ramli Bin Haji Mohd Nor has been appointed as a member of the Nominating Committee, in replacement of Mr. Mac Ngan Boon @ Mac Yin Boon with effect from January 18, 2013.