KUALA LUMPUR (Oct 26): Econpile Holdings Bhd (KL:ECONBHD) has secured a RM24.4 million contract to undertake site clearing, retaining wall and piling works for a 53-storey serviced apartment project along Jalan Tun Razak, Kuala Lumpur.
The contract was awarded to its wholly owned subsidiary Econpile (M) Sdn Bhd by REIN Architects Sdn Bhd, on behalf of Beverly 37 Sdn Bhd, according to a Bursa Malaysia filing on Monday.
The proposed development comprises 315 serviced apartment units, seven levels of podium parking, two basement parking levels and other facilities.
Econpile said the first phase, involving site clearing, retaining wall and piling works, is scheduled to be completed within six months from Nov 5, 2026.
The second phase, comprising pile head cutting and demolition works, will begin within three months of the commencement of the building’s main structural works and is expected to be completed within three months thereafter.
The group expects the contract to contribute positively to its revenue and earnings from the financial year ending June 30, 2027 (FY2027) onwards.
The latest win follows a RM48.8 million piling contract secured in June for a 74-storey serviced apartment project along Jalan Pavilion, Kuala Lumpur.
That contract brought Econpile's total new contract wins for FY2026 to RM404 million, with its outstanding order book exceeding RM500 million at the time.
Earlier in January, Econpile also secured a RM24 million subcontract for piling and substructure works for an 18-storey apartment project in Gombak, Selangor.
Shares of Econpile closed at 12 sen on Monday, valuing the group at RM170.1 million. Over the past one year, the stock had fallen by 45.45%.