Econpile eyes Malaysia infrastructure sector

KUALA LUMPUR (Jan 24): Piling and foundation specialist Econpile Holdings Bhd said it is eyeing the Malaysian infrastructure sector to secure more projects.

Econpile executive director Raymond Pang said when the nation's infrastructure sector matures, he foresees more private sector participation in the property development market. 

Pang said the increased focus on affordable, high-rise projects in the property market augurs well for a piling specialist like Econpile because high-density housing projects require more technicalities in substructure works.

"We do not think, for the next five years, we are looking [to expand] overseas. There will be so many local jobs coming up like the Kuala Lumpur-Singapore High Speed Rail and Mass Rapid Transit 3 (MRT3), for example,” he told reporters at the Invest Malaysia Kuala Lumpur 2018 event today.

At 12:30pm, Econpile shares settled at RM1.28 for a market capitalisation of RM1.73 billion. The stock saw 983,100 shares traded. — theedgemarkets.com

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