Econpile Holdings Berhad

ECONPILE HOLDINGS BERHAD

Type	Announcement
Subject	OTHERS
Description	Notice of Determination of Contract for Foundation and Substructure Works of a Mixed Development comprising of a 7-Block Serviced Apartments, Retail and Car Park at Lot 36190, Mukim Petaling, Kuala Lumpur - Update
Reference is made to the Company’s announcements dated 14 March 2019 and 24 June 2019. The Board of Directors of Econpile Holdings Berhad wishes to update that its wholly-owned subsidiary, Econpile (M) Sdn. Bhd. (“EMSB”) had on 17 September 2019 been awarded a sum of RM5,959,024.99 together with costs and interest, in relation to the award in the second Adjudication proceedings under the Construction Industry Payment & Adjudication Act 2012. The first adjudication awarded to EMSB was on 21 June 2019 for a sum of RM67,767,269.32 together with costs. The Arbitration filed by EMSB against ASM Development (KL) Sdn. Bhd. with Asian International Arbitration Centre is still in progress and any further material development of the above matter will be announced in due course. This announcement is dated 20 September 2019.

Company Name	ECONPILE HOLDINGS BERHAD
Stock Name	ECONBHD
Date Announced	20 Sep 2019
Category	General Announcement for PLC
Reference Number	GA1-20092019-00043



	Piling and Foundation Specialist Founded in 1987, Econpile is a leading specialist with a solid reputation for performance and capacity in the field of deep foundation in Malaysia. We draw on over 30 years of construction experience to offer our clients a wide range of deep foundation solutions as well as a full spectrum of time and cost efficient design-build solutions.