Favelle Favco Bhd (FBB) has taken up a 60 per cent stake in Shanghai Favco Engineering Machinery Manufacturing Co Ltd (SFEMM) worth RM5.335 million.
SFEMM, whose intended principal activity is crane manufacturing, is presently dormant, FBB said in an announcement to Bursa Malaysia today.
It added the subscription of shares in SFEMM is not expected to have any material effect on the group's earnings or net assets for the current financial year ending Dec 31, 2011. -- Bernama
SFEMM, whose intended principal activity is crane manufacturing, is presently dormant, FBB said in an announcement to Bursa Malaysia today.
It added the subscription of shares in SFEMM is not expected to have any material effect on the group's earnings or net assets for the current financial year ending Dec 31, 2011. -- Bernama
