Piling and foundation specialist Econpile Holdings Bhd will be focusing on tendering for construction-related projects, expanding its foothold in Cambodia and investing in its fleet in anticipation of more large projects to drive the company forward.
In the company’s Annual Report 2023, group managing director The Cheng Eng and group chief executive officer Pang Sar said with home ownership still a key priority nationwide, tenders for property development projects are still being called albeit in smaller contract sums as developers adopt a pragmatic view.
“We continue to receive invitations to participate in tenders for mixed development projects in Klang Valley and aim to remain competitive.
“We are also exploring selective opportunities in public mega projects to support Malaysia’s ongoing infrastructure development drive,” they said.”We are also exploring selective opportunities in public mega projects to support Malaysia’s ongoing infrastructure development drive,” they said.
On Econpile’s expansion in Cambodia, they said the company is upbeat about Cambodia’s long-term growth prospects in line with its drive towards modernisation and urbanisation.
They said this is anticipated to spur demand for piling and deep foundation works in the foreseeable future.
“Our positive outlook of the country’s growth is matched by us securing our second project in Phnom Penh in the financial year,” it said.
On fleet investment, The and Pang said the company planned to allocate approximately RM10 million of capital expenditure to purchase new machinery in the coming year in light of the upcoming construction sector growth supported by the nation’s aim to roll out more impactful infrastructure projects such as the Klang Valley Mass Rapid Transit Line 3 Circle Line, Bayan Lepas Light Rail Transit Line and Kuala Lumpur-Singapore High-Speed Rail.
“In particular, we are looking to acquire large-capacity drilling rigs to take up challenging piling jobs.
“Construction of large-diameter deep depth pile has been and is one of our greatest competitive advantage over other contractors,” they said.