Econpile wins RM25m sub-structure job for service suites in KL

• Econpile said its wholly owned subsidiary Econpile (M) Sdn Bhd had on Tuesday (Oct 4) received a letter of appointment from Berjaya Construction for the proposed project.

KUALA LUMPUR (Oct 4): Piling specialist Econpile Holdings Bhd has bagged a RM24.6 million contract from Berjaya Construction Bhd to undertake sub-structure work for a proposed 41-storey block of service suites in Jalan Imbi here.

In a Bursa Malaysia filing, Econpile said its wholly owned subsidiary Econpile (M) Sdn Bhd had on Tuesday (Oct 4) received a letter of appointment from Berjaya Construction for the proposed project.

Econpile added that the project, which will be completed within 13 months, is expected to contribute positively to its earnings from the financial year ending June 30, 2023.

Shares of Econpile, which fell 48% year-to-date, closed half sen or 3% higher at 17 sen on Tuesday, giving it a market capitalisation of RM240.97 million.