KUALA LUMPUR (July 25): Econpile Holdings Bhd has won a contract worth RM43.38 million to undertake substructure works for a serviced apartment in Bukit Jalil, Kuala Lumpur.

In a filing with Bursa Malaysia, the construction outfit said its wholly owned unit Econpile (M) Sdn Bhd received the letter of award from Konzepte + Design Architects on behalf of Regal Path Sdn Bhd.

The substructure works are for two blocks of 47-storey serviced apartments comprising 453 units, with existing commercial development comprising a five-storey retail mall and two levels of basement parking.

“The project shall be completed within 15 months from the date of commencement to be notified later,” said Econpile.

It added that the contract is expected to contribute positively to its revenue and earnings for the financial year ending June 30, 2024 and onwards.

Shares in Econpile ended half a sen or 2.33% lower at 21 sen each on Tuesday (July 25), giving the group a market capitalisation of RM290.91 million.