ECONPILE HOLDINGS BHD - Piling and Foundation Specialist

ECONBHD (5253)

Econpile founded by Group MD Mr The Cheng Eng in 1987, Econpile is a piling & foundation specialist in Msia providing piling solutions and foundation works, which includes earth retaining systems, earthworks, substructure and basement construction works. 

Econpile has a full range of piling (bored piling, driven piles and jack-in piles) & foundation works. Econpile serves the property development & infrastructure sectors, having been involved in the construction of bridges, elevated highways, electrified-double tracking projects and power plants.

To date, Econpile has successfully undertaken numerous piling and foundation projects nationwide, including the Klang Valley, Penang, Johor, Pahang, Sabah and Sarawak.

Econpile holds a Grade 7 License from the Construction Industry Development Board of Msia, which allows the Group to tender for projects of unlimited values in the categories of building, and infrastructure works.

Through their subsidiary companies as above which are principally involved in the following business activities:

• The provision of piling and foundation services; 
• Property investment, rental of machinery and sales of goods

Scope of Services

ECONBHD offer a wide range of services including:

1. Foundation and Geotechnical Works
   • Cast-in-situ bored piles
   • Driven and jack-in piles
   • Micropile
   • Earth retaining system including contiguous bored pile wall, secant pile wall, soldier pile wall, diaphragm wall, steel/concrete sheet pile wall
   • Lateral support system including ground anchors and steel strutting
   • Slope protection and stabilization, ground improvement works
2. Civil Engineering Works
   • Earthwork and basement excavation
   • Infrastructure
3. Structure Works
   • Pile cap and basement slabs
   • Top-down construction
   • Temporary steel platform and staging
   • Bridges
4. Design and build packages
• Piling, retaining system and structural works

Plant and Machinery

Econpile has one of the largest and most advanced arrays of piling equipment in Malaysia.

Econpile own hydraulic and mechanical rigs of various brands and models, majority of which are manufactured by German-based Bauer Group. The selection of rigs is complemented with a wide range of customised accessories such as soil augers, boring buckets and coring tools. In addition, they have vibratory hammers with various capacities to help with the driving of casings and foundation supports into the ground.

Supporting their piling operation is a wide range of general construction equipment. Their extensive fleet of crawler cranes have the lifting capacity ranging from 30 tonnes to 100 tonnes. They also own and maintain various excavators, some of which with long reach capability which are ideal for basement work.

Hydraulic Rigs 
Units by Bauer with models ranging from BG7 to BG40 as well as units by G-Klemm and Liebherr capable of constructing piles up to 3200mm in diameter and up to 100m in depth

Mechanical Rigs
Units by CMV, Calweld, Soilmec, Watson capable of constructing piles ranging up to1800mm in diameter and up to 80m in depth

Diaphragm Wall
Diaphragm wall grabs ranging from 0.6m to 0.8m in width

Crawler Cranes
Units with lifting capacity ranging from 30 tonnes to 100 tonnes

CMobile Cranes 
Units with lifting capacity ranging from 20 tonnes to 40 tonnes

Excavators
Units by Kobelco, Hitachi, Komatsu and Sumitomo with various capacities

Vibratory Hammers 
Units by PTC with various capacities (PTC13 to PTC100)

Tools and Accessories 
Wide range of custom designed soil augers, boring buckets, cleaning buckets, coring buckets, coring tools, various diameter temporary steel casings, double wall casings

Workshops

They have a full-fledged workshop sitting on a 5.3 acre lot in Bukit Beruntung, Rawang. The operation is supported by a large workforce consisting mechanics, welders, drivers & administration personnel. The facility is equipped with overhead gantry cranes and ancillary lifting equipment making the repair and fabrication of the biggest tools and parts possible. With the workshop, we have the in-house capability to undertake refurbishment, fabrication, modification repair or maintenance works on our fleet of machinery, tools & equipment. Drilling tools & parts can also be fabricated or modified at their workshop to cater to the specific needs of each individual project.

In addition, their workshop acts as the resource centre in meeting different requests from projects. It plans & coordinates the mobilisation of technical teams, equipment & materials to projects sites in response to their respective needs.

Running their own workshop grants them the flexibility to offer customised solutions or undertake various projects of different scales and difficulty levels due to their ability to modify & customise tools and equipment. With less reliance on external parties, Econpile are in a better position to manage our project deliverables and ensure a shorter project completion period

Project Highlights

Through decades of experience & accumulated engineering knowledge, Econpile stand proudly among the few foundation specialists in Msia which have the capability to undertake large-scale projects in challenging urban environments.

• Prominent Retail and Residential development at Jalan Bukit Bintang & Jalan Raja Chulan, KL

• The Troika KL

36-storey office tower at Jalan P. Ramlee, off Jalan Pinang, KL

• Menara Hap Seng 2

• W Hotel and The Residences

• Electrified double tracking project between Ipoh and Padang Besar, Malaysia

•Piling works for mixed residential development at Sepang Gold Coast, Malaysia

•Earthwork, bored piles, contiguous bored piles, diaphragm wall for condominium development at Jln Menerung, Bangsar, KL

•Bored pile works using mechanical rigs for Johor River, Johor

•Contiguous Bored Pile Wall in Taman Desa Petaling

•Flood Mitigation Project in Gombak

•Secant Pile for Cofferdam at Jln Klang Lama

•Cantilever Contiguous Bored Pile in Putrajaya

Catalyst 

Positive industry outlook. 

• Booming infrastructure construction with several high profile projects in the pipeline including Klang Valley MRT, Damansara-Shah Alam, Sg Besi- Ulu Klang expressway, LRT 3 and others.
• A proliferation of high-rise developments on rising land scarcity in prime locations that require extensive piling.
• A possible chronic shortage of piling capacity in the market if all projects are to be carried out as originally planned.

Econpile's orderbook broke RM600m mark which should keep the company busy for next 1.5 years. 

The surge in bottomline translated to healthy cash flow which net cash and solid balance sheet.

Its strong profitability and efficient equity deployment translated to commendable ROEs of mid 20%.

The company is committed to paying out at least 20% of its profits to reward its shareholders.

RHB target price given : RM 1.51

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