Econpile secures RM27 mil piling contract for apartment project
The job, awarded by Bayu Melati Sdn Bhd to Econpile’s wholly owned subsidiary Econpile (M) Sdn Bhd, is scheduled for completion within 12 months starting July 14.
The job, awarded by Bayu Melati Sdn Bhd to Econpile’s wholly owned subsidiary Econpile (M) Sdn Bhd, is scheduled for completion within 12 months starting July 14.
The two contracts follow four contracts worth RM145.
Prior to this latest award, it obtained a RM40.
Econpile said its wholly-owned subsidiary Econpile (M) Sdn Bhd had on March 6 received the letter of award from Archimatrix Sdn Bhd, acting on behalf of Setia MF SFH Development Sdn Bhd.
This latest award brings the total number of contracts secured by Econpile this year to eight, with a cumulative value of RM344.
This latest win marks Econpile’s fifth contract secured since the beginning of the year.
The loss-making company added that it expects the contract to contribute positively to its revenue and earnings from the financial year ending June 30, 2025 onwards.
KWAP’s stake in Econpile dropped to below the 5% threshold necessary to be deemed a substantial shareholder after it sold 2.
As of the end of March, Econpile had 19 ongoing projects with an order book of about RM400 million.
“Overall collection has also improved significantly over the past few months.