Econpile bags RM20 million contract in Kampung BaruTheStar Biz | 4 January 2016 6:53 PM
http://www.themalaysianinsider.com/busines...in-kampung-baruEconpile Holdings Bhd has secured a RM20.3 million contract for piling and related works for a mixed development commercial and residential development in Kampung Baru.
In a filing with Bursa Malaysia today, the piling and foundation specialist said its unit, Econpile (M) Sdn Bhd, had on December 31 received a letter of acceptance from Ahmad Zaki Sdn Bhd to undertake piling and sub-structure works for the proposed project.
"The contract comprises bored piling, sheet piling, earthworks and sub-structure of a mixed commercial and residential development, for a contract sum of RM20.3 million," it said in the filing.
Econpile says the duration of the contract is approximately eight months and is expected to complete in July 2016.
The group expects the contract to contribute positively to its revenue and earnings for the financial year ending June 30, 2016 (FY16).
Shares in Econpile closed five sen or 4.59% lower at RM1.04 today, for a market capitalisation of RM572.45 million. – The Edge Markets, January 4, 2016.