Econpile Holdings Berhad announced that its wholly owned subsidiary, Econpile (M) Sdn Bhd, have received two Letters of Award (LOA) from Sg Besi Construction Sdn Bhd to carry out piling and sub-structure works.
In a filing to the Bursa Malaysia on Oct 2, the works shall be conducted at a proposed block of 51-storey service apartment in Lorong Raja Uda, Kuala Lumpur (KL), for Lofthill Development Sdn Bhd and at a 59-storey strata office in Jalan Mayang, KL, for Armani Development Sdn Bhd. The total value of the projects is RM33.3 million.
The work at Lorong Raja Uda shall be completed within 10 months from Oct 2, 2024, while the work at Jalan Mayang shall be completed within 12 months from the date of commencement to be notified at a later date.
The works are expected to contribute positively to the revenue and earnings of the company from the financial year ending June 30, 2025 onwards.
There are no foreseeable significant risks other than operational risk associated with the projects during the contract period as the management would put in place control measures and operational procedures to reduce the impact or likelihood of such events.
Sumber: Business Today
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