Econpile still in an uptrend, says AllianceDSBS Research
By theedgemarkets.com / theedgemarkets.com | October 6, 2016 : 5:58 AM MYT

KUALA LUMPUR (Oct 6): AllianceDBS Research said Econpile Holdings Bhd (EconBhd) was still in an uptrend and that EconBhd had on Oct 5 traded higher to RM1.79 before closing at the day’s low of RM1.74 (down 2sen or 1.13%).

In its evening edition yesterday, the research house said EconBhd continued to trade above the 20-day and 50-day moving average lines.

“Given the recent share price movement, the stock is likely to move between RM1.67 and RM1.81 in the coming few days.

“A crossover of RM1.81 should see further price rise to the next overhead resistance zone, RM1.95 – RM2.00.

“However, a fall below RM1.67 would put pressure on the stock down to the subsequent support zone, RM1.55 – RM1.60,” it said.

AllianceDBS Research said stock volume traded on Oct 5 was 1.22 million shares compared to the 3-month average volume of 1.85 million shares.

The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.

It said the relative strength index indicated that the stock was currently in a neutral zone.

Reference: http://www.theedgemarkets.com/my/article/econpile-still-uptrend-says-alliancedsbs-research

Econpile clinches RM280m piling contract for Sungai Besi project
By Gho Chee Yuan / theedgemarkets.com | October 4, 2016 : 6:35 PM MYT

KUALA LUMPUR (Oct 4): Econpile Holdings Bhd has clinched a RM280 million contract to undertake piling and basement works for Maju Kuala Lumpur, a mixed development project situated in Sungai Besi.

In a statement posted on Bursa Malaysia today, the piling and foundation specialist said it won the contract via its unit Econpile (M) Sdn Bhd from ASM Development (KL) Sdn Bhd, a subsidiary of Maju Holdings Sdn Bhd.

Under the contract, Econpile is tasked to undertake diaphragm wall, contiguous bored pile, earthworks, piling works and basement structure works of a mixed development comprising serviced apartments, retail units and car park, which is to be completed within 15 months.

According to Econpile, the mixed development project will comprise seven 58-storey towers consisting of loft apartments integrated with a host of retail and leisure amenities.

Shares in Econpile closed up seven sen or 4.14% at RM1.76, valuing the company at RM936.25 million.

Reference: http://www.theedgemarkets.com/my/article/econpile-clinches-rm280m-piling-contract-sungai-besi-project

Higher earnings ahead for Econpile
By BIMB Securities Research / The Edge Financial Daily | September 29, 2016 : 10:05
This article first appeared in The Edge Financial Daily, on September 29, 2016.

Econpile Holdings Bhd
(Sept 28, RM1.72)
Maintain buy with target price (TP) of RM2.02: We revise our financial year 2017 (FY17) and FY18 earnings forecast higher by 16.3% to RM83.2 million, and by 26.2% to RM96.6 million respectively, following an upward revision in our job win assumption to RM800 million from RM400 million earlier.

While the number of ongoing property projects in the market is limited due to the gloomy property outlook, we believe the group will still be able to secure projects, given several of its advantages.

Among the property projects near finalisation are Pusat Bandar Damansara (Pavilion Damansara), and residential properties in Sungai Besi and Jalan Pudu. These projects are expected to be awarded within the next month.

Infrastructure projects, namely KVMRT Line II, LRT 3, Suke and DASH are still high in the group’s to-do list. The group is now finalising commercial terms with AZRB for the KVMRT Line II project under package V202. According to management, it would be awarded in a month’s time.

We reiterate our “buy” recommendation on Econpile with a new TP of RM2.02 based on industry average price-earnings ratio of 13 times over FY17 earnings per share. — BIMB Securities Research, Sept 28

Reference: http://www.theedgemarkets.com/my/article/higher-earnings-ahead-econpile