Kuala lumpur: Econpile Holdings Bhd’s wholly-owned subsidiary, Econpile (M) Sdn Bhd, has secured two contracts worth a combined RM57.95 million for a proposed development in Ara Damansara, Selangor.

According to BERNAMA News Agency, in a filing with Bursa Malaysia, the company said the construction services contract worth RM27.99 million was awarded by LFE Engineering Sdn Bhd. Additionally, a separate contract for the supply and delivery of materials worth RM29.96 million was awarded by LFE Innovative Sdn Bhd.

The project involves design and build works for alteration, underpinning, and strengthening for the Oasis Ara development in Jalan PJU 1A/46, Ara Damansara. The company stated that the contract period is 21 months starting from June 30, 2025.

Econpile said the contracts are expected to contribute positively to its revenue and earnings from the financial year ending June 30, 2026, onwards. The company also noted that there are no foreseeable significant risks other than operational risk associated with the project during the contract period, and management would implement control measures and procedures to manage such risks.