Econpile bags RM44m contract for Tropicana Gardens

18 Oct 2019 / 19:41 H.

PETALING JAYA: Econpile Holdings Bhd has been awarded a RM44 million contract for demolition, earthworks, piling and substructure works for the Tropicana Gardens mixed development.

The Tropicana Gardens mixed development comprises a 42-storey commercial block housing 630 units of serviced apartments and 397 small office, flexible office (SoFo) units.

The overall duration of the contract is estimated to be 16 months, and is expected to contribute positively to the group in the financial years ending June 30, 2020 till FY2021.

This latest win comes on the heels of the RM20.8 million contract secured from Tropicana Metropark Sdn Bhd to undertake earthworks, soil nailing works, piling and pilecap and basement lowest floor slab works for the Tropicana Metropark mixed development in Subang Jaya.

In a statement today, Econpile CEO Raymond Pang said winning another contract from the same client signified a strong vote of confidence in the group’s technical capabilities and commitment to timely deliveries.

“The latest awards of property development projects, especially in a tough economic landscape highlights our competitive edge in this sector as we continue to secure challenging contracts that require our specialist expertise in deep foundation works to support high-rise buildings.

“With the group’s most recent win, Econpile has secured RM72.7 million worth of contracts in the financial year-to-date. We possess a strong current orderbook of approximately RM850 million, which would provide earnings visibility over the next two years,” he said.

Other projects in the group’s orderbook include mixed development projects such as Pavilion Damansara Heights, TNB mixed development and Terra Putrajaya mixed development, as well as infrastructure contracts like Light Rail Transit 3 – Package GS04 and Hospital Kuala Lumpur Station of the Klang Valley Mass Rapid Transit 2.

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