This article first appeared in The Edge Financial Daily on January 10, 2020

KUALA LUMPUR: Piling and foundation specialist Econpile Holdings Bhd has bagged a RM45 million contract to undertake piling and raft foundation works for phase 2 of Kuchai Sentral mixed development in Taman Kuchai Jaya here.

The group’s current order book stands at RM850 million, which would sustain its earnings over the next two years.

In a bourse filing yesterday, Econpile said its wholly-owned subsidiary Econpile (M) Sdn Bhd (EMSB) had yesterday received a letter of award from Altimas Sdn Bhd for the proposed project.

The contract duration is 19 months and work is expected to start next month.

“The contract is the main stream business of EMSB and is expected to contribute positively to the group’s revenue and earnings for the financial year ending June 30, 2020,” said Econpile.

Kuchai Sentral features a 39- and 43-storey mixed development comprising suite apartments with amenities, commercial space, podium and basement carparks.

In a separate statement, Econpile executive director and group chief executive officer Raymond Pang said mixed developments in choice locations in the Klang Valley are still preferred by customers, given their ability to meet various target markets.

“The group is exhibiting its competitiveness in a challenging sector and we hope to continue this momentum going forward,” he added.