Introduction

The Board of Directors of Econpile Holdings Berhad (“Econpile”) is pleased to announce that its wholly-owned subsidiary, Econpile (M) Sdn. Bhd. (“EMSB”) has on 27 June 2014, received a Letter of Award dated 15 June 2014 from the Consultant Engineer on behalf of Messrs. Eco Sky Development Sdn. Bhd. to undertake piling, pile caps and bored piling works of a mixed residential and commercial property development project at Lot 3972 and Lot 4189, Taman Wahyu, Jalan Ipoh, Kuala Lumpur, Wilayah Persekutuan (the “Contract”).

Information on the Contract and Financial Impact

The Contract comprises piling, earthworks and foundation works of a mixed residential and commercial property development project, for a contract sum of approximately RM48.0 million.  The duration of the Contract is twelve (12) months and is expected to commence on 1 July 2014.  The Contract is the main stream business of EMSB and is expected to contribute positively to the revenue and earnings of Econpile for the financial year ending 30 June 2015.

Directors’ and Substantial Shareholders’ Interest

None of the Directors and/or major shareholders of Econpile and/or persons connected with them have any interests, whether direct or indirect, in the Contract.

This announcement is dated 30 June 2014.