KUALA LUMPUR (Feb 7): Econpile Holdings Bhd has secured a RM30 million contract to undertake substructure works for a 15-storey office building in Shah Alam.

In a filing with Bursa Malaysia on Wednesday, the construction company said the contract, awarded by Chingsan Development Sdn Bhd, is expected to contribute positively to its revenue and earnings from the financial year ending June 30, 2024 onwards.

It added that the scope of work includes site clearing, earthworks, substructure and structure works for a five-storey basement car park.

"The project is scheduled for completion within 16 months from Feb 24, 2024," Econpile said.

Shares in Econpile closed unchanged at 34 sen on Wednesday, resulting in a market capitalisation of RM481.95 million.