Saturday 22 Jun 2024
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KUALA LUMPUR (May 9): Econpile Holdings Bhd said it has bagged a contract worth RM37.36 million for substructure works in Pantai Dalam, Kuala Lumpur, in a bourse filing on Monday (May 9).

In a filing, Econpile said its wholly-owned subsidiary, Econpile (M) Sdn Bhd received the letter of award dated April 22, 2022 from Domain Resources Sdn Bhd to undertake the substructure works for a proposed phased development comprising Phase 1 Affordable Homes (PT7), which is a single block of residential units, and Phase 2 (PT8), which comprises three blocks of residential units at Lots PT.7 and PT.8, in Seksyen 98, Jalan Pantai Dalam, Kuala Lumpur.

The filing said that the project shall be completed within 15 months from May 5, 2022.

"The project is expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2022 onwards.

"There are no foreseeable significant risks other than operational risk associated with the project during the contract period. The management would put in place control measures and operational procedures to reduce the impact or likelihood of such events," Econpile added.

On Monday, Econpile's share price dropped one sen to close at 26 sen, valuing the construction group at RM368.6 million.

Edited ByKathy Fong
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