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- Prior to this latest award, it obtained a RM40.11 million contract for bridge construction on May 26, a RM35.8 million subcontract for piling and substructure works on April 17, and a RM27.23 million contract for substructure works on March 7.
KUALA LUMPUR (June 5): Econpile Holdings Bhd (KL:ECONBHD) has secured a RM42.82 million subcontract to undertake piling works for the Mutiara Line light rail transit (LRT) project in Penang.
Under the subcontract awarded by Irama Duta Sdn Bhd, Econpile will carry out bored piling and related works for the East Jelutong to Gelugor stretch of the project, according to the group's filing with Bursa Malaysia on Thursday.
Econpile said work is scheduled to commence on Aug 1 with practical completion expected by Oct 31, 2027.
The project is expected to contribute positively to the company's revenue and earnings starting from the financial year ending June 30, 2026, the company said.
Econpile has secured four contracts this year. Prior to this latest award, it obtained a RM40.11 million contract for bridge construction on May 26, a RM35.8 million subcontract for piling and substructure works on April 17, and a RM27.23 million contract for substructure works on March 7.
Shares in Econpile remained unchanged at 28.5 sen on Thursday, giving the group a market capitalisation of RM404 million. The counter has declined 39.36% year-to-date.
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