Econpile bags sub-structure job for private hospital in Kelantan

KUALA LUMPUR (Oct 31): Piling specialist Econpile Holdings Bhd has bagged a RM24.09 million contract to undertake substructure works for a private hospital in Kota Bharu, Kelantan.

The hospital comprises a 12-storey hospital block and 11-storey carpark block, the group said in a Bursa Malaysia filing.

Econpile said its wholly-owned subsidiary, Econpile (M) Sdn Bhd, was awarded the contract by Kota Bharu Medical Centre Sdn Bhd.

The group said the project would be completed within 12 months, and is expected to contribute positively to its revenue and earnings from the financial year ending June 30, 2023, onwards.

Shares of Econpile closed unchanged at 14 sen on Monday (Oct 31), giving the group a market capitalisation of RM198 million.

The stock has fallen by 57.58% year to date, from 33 sen on Jan 3.