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Property News

Econpile bags RM35 mil substructure works job in Subang Jaya from Vestland unit

KUALA LUMPUR (July 7): Econpile Holdings Bhd has been awarded a contract worth RM35.09 million to undertake the substructure works for a commercial development in Subang Jaya, Selangor.
According to Econpile’s bourse filing on Friday (July 7), the construction outfit’s wholly owned unit Econpile (M) Sdn Bhd had received the letter of award from Vestland Bhd’s wholly owned unit Vestland Resources Sdn Bhd.
“The overall duration of the project shall be 15 months from July 15, 2023,” the company said, adding that the project is expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2024 (FY2024) onwards.
Econpile noted that the commercial development comprises small-office home-office (Soho) units and retail floors.
Back in end-May, Vestland Resources secured an RM170 million design and build contract to undertake the main building and associated works for Soho and retail units in Subang Jaya, from Tafi Home & Office Sdn Bhd.
Shares in Econpile ended unchanged at 19.5 sen on Friday, giving the group a market capitalisation of RM269.5 million.

Source: EdgeProp.my

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