Econpile climbs to near three-year high as analysts expect more contract wins
On Thursday, Econpile announced that it had been awarded earthworks contract worth RM83 million from BRDB Developments Sdn Bhd.
On Thursday, Econpile announced that it had been awarded earthworks contract worth RM83 million from BRDB Developments Sdn Bhd.
The sub-contract works are for the proposed development of 146 units of villa residences, including common facilities and club house in Taman Duta, Bukit Tunku, Kuala Lumpur.
In a filing with Bursa Malaysia on Wednesday, the construction company said the contract, awarded by Chingsan Development Sdn Bhd, is expected to contribute positively to its revenue and earnings from the financial year ending June 30, 2024 onwards.
The arbitration shall be conducted and administered by the Asian International Arbitration Centre (AIAC) with the seat of arbitration in Kuala Lumpur, Econpile said.
“The project is expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2024 onwards.
The substructure works are for two blocks of 47-storey serviced apartments comprising 453 units, with existing commercial development comprising a five-storey retail mall and two levels of basement parking.
“The overall duration of the project shall be 15 months from July 15, 2023.
In a bourse filing on Wednesday (May 31), Econpile said its unit Global Piling Solutions Co Ltd secured the contract for Odom Living Co Ltd for the Odom development at Norodom Boulevard, Sangkat Tonle Bassac, Phnom Penh.
In a bourse filing on Monday (Nov 28), Econpile said revenue for the quarter dipped 4.
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.