KUALA LUMPUR (March 14): Piling and foundation specialists Econpile Holdings Bhd has secured a contract worth RM83 million to undertake the sub-contract works consisting of earthworks, retaining structure, piling, and road deck and ancillary works, among others.

In a filing to Bursa Malaysia on Thursday, Econpile said its wholly owned subsidiary Econpile (M) Sdn Bhd had accepted the letter of award from BRDB Developments Sdn Bhd and the project is set to be completed within 18 months from March 1, 2024.

The sub-contract works are for the proposed development of 146 units of villa residences, including common facilities and club house in Taman Duta, Bukit Tunku, Kuala Lumpur

“The project is expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2024, onwards,” the group added.

Econpile shares finished a sen or 2.35% higher to 43.5 sen on Thursday, giving the group a market capitalisation of RM616.6 million.