The Board of Directors of Econpile Holdings Berhad announced that the Company's wholly-owned subsidiary, Global Piling Solutions Co. Ltd. had on 30 May 2023, received a Letter of Acceptance dated 30 May 2023 from Odom Living Co. Ltd. to undertake Work Package: Bored Pile and Diaphragm Wall Works for Odom development at Norodom Boulevard, Sangkat Tonle Bassac, Phnom Penh, Kingdom of Cambodia for a total contract sum of USD 9,500,000.00 (equivalent to approximately MYR 43,771,250.00).

The overall duration of the Project shall be 248 calendar days from 1 June 2023. The Project is expected to contribute positively to the revenue and earnings of the Company from the financial year ending 30 June 2023 onwards. There are no foreseeable significant risks other than operational risk associated with the Project during the contract period.

The management would put in place control measures and operational procedures to reduce the impact or likelihood of such events.