KUALA LUMPUR (June 1): Econpile Holdings Bhd has bagged a RM20.5 million contract to undertake piling and substructure works for the development of a 41-storey service apartment (Block H) KL Gateway (Phase 2) project at Off Jalan Kerinchi here.
In a filing with Bursa Malaysia, Econpile said its wholly-owned subsidiary Econpile (M) Sdn Bhd has received a letter of award from KL Gateway Sdn Bhd for the proposed job.
"The contract comprises site clearance, contiguous bored piles, foundation bored piling works and substructure works for the development of the service apartment. The overall duration of the contract is 18 months," the filing added.
Econpile said the contract is expected to contribute positively to the group's revenue and earnings for the financial year ending June 30, 2019 (FY19).
Econpile shares closed up 0.5 sen or 0.89% at 57 sen today with 5.11 million shares traded for a market capitalisation of RM755.69 million.