ECONPILE Holdings Bhd has secured two contracts worth a total of RM33.3 million from Sg Besi Construction Sdn Bhd for piling and substructure works on residential and office buildings in Kuala Lumpur.

The first contract, valued at RM21.3 million, involves a 51-storey service apartment project with 653 units for Lofthill Development Sdn Bhd, set for completion within 10 months from October 2.

The second contract, worth RM12 million, is for a 59-storey office building with 350 units for Armani Development Sdn Bhd, with completion expected within 12 months from an undisclosed start date.

Econpile anticipates these contracts will positively impact their revenue and earnings for the financial year ending June 30, 2025.

On the stock market, shares of Econpile closed at 46.5 sen today, down 1.06%, with a market capitalisation of RM659.14 million. — TMR