KUALA LUMPUR (May 18): Piling and foundation specialist, Econpile Holdings Bhd has a secured foundation and structure works contract worth RM27.09 million from Satin Magic Sdn Bhd. 

In a local bourse filing today, the group highlighted its wholly-owned subsidiary Econpile (M) Sdn Bhd had received a letter of award to undertake the work package which includes demolition, site clearance, earthworks, site works and reinforced concrete works for a luxurious seven-storey apartment building located in Bukit Damansara, Kuala Lumpur. 

“The overall duration of the project is 15 months and works are expected to commence in June 2021. 

“The project is expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2022 onwards,” it said. 

Shares of Econpile ended one sen or 2.33% higher at 44 sen, valuing the company at RM623.7 million. 

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