Econpile secures RM20.8m contract

KUALA LUMPUR (Oct 8): Econpile Holdings Bhd’s unit has been awarded a contract worth RM20.8 million to undertake works for a proposed commercial development in Subang Jaya. 

In an exchange filing today, Econpile said the contract is for earthworks, soil nailing works, piling and pilecap, as well as basement lowest floor slab works for the development, which comprises a commercial block with serviced apartments and small office/home office (SoHo), a seven-storey podium block and retail space. 

The contract, which was awarded to its wholly-owned subsidiary Econpile (M) Sdn Bhd today by Tropicana Metropark Sdn Bhd, is for a duration of 12 months. 

Econpile expects the contract to contribute positively to its revenue and earnings for the financial year ending June 30, 2020.

Shares of Econpile closed one sen lower at 72 sen today, bringing a market capitalisation of RM963 million.

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