Econpile bags RM42.82mil piling contract for Penang LRT project
KUALA LUMPUR: Econpile Holdings Bhd's wholly-owned subsidiary, Econpile (M) Sdn Bhd has secured a RM42.82 million contract from Irama Duta Sdn Bhd to carry out bored piling and related construction works.
In a filing with Bursa Malaysia, the company said the works are part of the Penang Light Rail Transit (LRT) Mutiara Line (MTL) – Package CMC1.
"The project is expected to contribute positively to the company's revenue and earnings from the financial year ending June 30, 2026 onwards," it said, adding that the project is expected to commence on Aug 1, 2025, and the practical completion date is Oct 31, 2027.
"There are no foreseeable significant risks other than operational risk associated with the project during the contract period.
"The management would put in place control measures and operational procedures to reduce the impact or likelihood of such events," it added.
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