Quick take: Econpile shares boosted by contract win

KUALA LUMPUR: Shares in Econpile Holdings Bhd were boosted in early trade Thursday after announcing a RM45mil MRT2 contract.

The piling and foundation specialist rose 2.1%, or one sen to 48.5 sen. Econpile-WA gained 4.55%, or 0.5 sen to 11.5 sen.

Econpile has secured a RM44.7mil contract from MMC Gamuda KVMRT (UGW) joint venture to design and build the reinforced concrete box tunnel works for the Hospital Kuala Lumpur Station under the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (SSP) Line (MRT 2).

Econpile said its wholly-owned subsidiary Econpile (M) Sdn Bhd (EMSB) had on March 19, 2019, received a sub-contract agreement from the MMC Gamuda KVMRT (UGW) joint venture.

Econpile has now secured RM620.2mil in new contract wins year-to-date, for the financial year ending June 30, 2019 (FY19), to be recognized in the coming two years.

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