KUALA LUMPUR (July 16): Piling and foundation specialist Econpile Holdings Bhd has bagged a RM21.4 million contract from Allevia Sdn Bhd.

In a filing with Bursa Malaysia yesterday, it said on Tuesday (July 14), its wholly-owned subsidiary Econpile (M) Sdn Bhd (EMSB) received a letter of award dated June 30, 2020.

The group said the contract comprises earthworks, piling, pile caps, substructure, elevated road and earthing system works for a development with a 44- and a 40-storey condominium blocks, basement and podium car parks and recreation facilities at Jalan Kiara 4, Batu district, Kuala Lumpur.

“The overall duration of the contract is approximately fourteen (14) months and work is expected to commence in July 2020,” said the group.

It said the contract is the mainstream business of EMSB and is expected to contribute positively to the revenue and earnings of Econpile for the financial year ending June 30, 2021 (FY21).

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