News about Econpile

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.

In a technical tracker note on Friday, the research house, which has a “trading buy” rating on Econpile, said construction activities are poised for sustained growth in 2024, with the Ministry of Finance forecasting a 6.

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.