Econpile bags RM26m sub-structure job in KL

KUALA LUMPUR (Nov 14): Piling and foundation specialist Econpile Holdings Bhd has been awarded a RM26.1 million contract to undertake sub-structure and basement works for a property development project in Jalan Awan Besar, Kuala Lumpur.

The group’s wholly-owned unit Econpile (M) Sdn Bhd was awarded the contract by WCT OUG Development Sdn Bhd, Econpile said in a filing to Bursa Malaysia.

The project, it said, comprises three residential blocks of 31 storeys, 33 storeys and 43 storeys respectively, one level of recreational facilities including a swimming pool, gymnasium, multipurpose hall and playground, a six-storey podium carpark and a three-storey basement carpark.

Econpile said the 11-month contract is expected to contribute positively to Econpile’s revenue and earnings for the financial year ending June 30, 2020.

Shares of Econpile closed one sen or 1.34% higher at 75.5 sen today, valuing the group at RM1.01 billion. Year to date, the counter has surged by 96% from 38.5 sen.

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