KUALA LUMPUR: Econpile Holdings Bhd, a piling and substructure specialist, see bright prospects of delivering good results in the quarters ahead, said its chief executive Raymond Pang.
When met at the sidelines of Invest Malaysia 2018, here, today, Pang said Econpile’s orderbook totals RM1.2 billion and his team will be busy executing the jobs for the next two years.
“Among the big packages we’re executing are part of the mega-sized infrastructural projects such as the LRT Line 3, SUKE and the MRT Line 2,” he told reporters.
Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) is a 24.4 km, 3-lane, dual carriageway expressway that will commence at Sri Petaling and passes through Sungai Besi and Taman Hillview, before exiting at Ulu Kelang.
Econpile, a niche builder in piling works, was founded in 1987. Today, it is ISO 9001:2008 certified and holds a Grade 7 license that enables its participation in tenders for projects with unlimited value.
“We see taller buildings and this also means such highrises require very stable foundation. Over the years, we’re increasingly taking on deeper job packages, as deep as 37m below ground. That works out to be 11 basement levels,” said Pang.
He said Econpile is in a niche business, of which, its opportunities of booking higher margin jobs are better than other contractors.
“As piling and foundation works are usually in the early stage of construction works, payment and cash flow risks are substantially reduced,” he said.
Just over a year ago, Econpile clinched a RM92.5 million contract to build the diaphragm wall for the Kampung Baru North underground station for the Klang Valley mass rapid transit Sungai Buloh-Serdang-Putrajaya Line (KVMRT2).
Pang said the contract involves construction and completion of tunnels, stations and associated structures from the Jalan Ipoh north escape shaft to the Desa Waterpark south portal.
“We learn to be more cost efficient from our experience from an earlier job package Line 1 of MRT. So, our profit margin for the job package in MRT Line 2 is much better,” he said.
When asked on a newswire report stating Econpile is close to securing a piling contract worth at least RM100 million, Pang confirmed the value but said the project owner is not a utility company.
“Please wait for our announcement to Bursa Malaysia, It will be soon.”
Pang acknowledged Econpile’s customers and projects are domestically based and he said there are no immediate plans to venture overseas to bid for jobs.
“There is enough job flow in Malaysia and our focus remains in the homefront.”