Econpile secures RM29.4mil piling job for luxury condos

Econpile Holdings Bhd has bagged a RM29.4mil contract from Symphony Life Bhd’s subsidiary TWY Development Sdn Bhd for piling and related works for a condominium project in Mont’Kiara.

The piling and foundation specialist said on Wednesday that it would undertake earthworks, piling and basement construction works for the TWY @ Mont Kiara luxury duplex condominiums in Kuala Lumpur.

“It consists of two 51-storey blocks which comprises of 484 luxury small office home office units with a seven-storey podium and three-storey basement park,” it added.

The contract, spanning 14 months, is expected to be completed by July next year.

TWY @ Mont Kiara has an estimated gross development value of RM250mil over two acres.

Econpile Holdings group chief executive officer Raymond Phang said the latest contract reflected positively the company’s quality and scope of piling and substructure services.

He noted that the group’s order book had exceeded RM540mil, which would be recognised by 2016.

“This contract is expected to contribute positively to the group’s financial performance for the financial years ending June 30, 2015 and 2016,” the company said. - By The Star