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KUALA LUMPUR (Feb 6): Haily Group Bhd (KL:HAILY) has secured a RM48.21 million contract to build double-storey houses in Taman Impian Emas, Skudai, Johor.
In a bourse filing, the company said the contract was awarded to its wholly owned subsidiary, Haily Construction Sdn Bhd, by Gunung Impian Development Sdn Bhd. The project will be divided into three sections, all commencing on Feb 23 this year.
Founder and executive director See Tin Hai said, “With this latest contract, our cumulative secured contracts now stand at a healthy RM1.3 billion.
This provides us with strong earnings visibility over the next few financial years and allows us to be selective in our bidding, focusing on projects that offer the best value and margin stability for the group.”
The first two sections, which include the construction of a new electrical substation, a show house, and a mock-up home, must be completed within six months, by Aug 22 this year.
The main section, involving the construction of 111 double-storey terraced houses along with related infrastructure and landscaping works, is scheduled for completion on Oct 22, 2027.
Both sections will carry a defect liability period of 26 months from the date of the certificate of practical completion.
Haily added that the contract is expected to contribute positively to the group’s earnings and net assets throughout its duration.
With the latest win, Haily’s portfolio now comprises 27 ongoing projects, reinforcing its position as one of Johor’s most active construction players.
To date, the group has successfully completed 115 projects with a combined value of approximately RM2.29 billion.
Shares in Haily closed half a sen or 2.5% higher at 20.5 sen on Thursday, giving it a market capitalisation of RM86.72 million. Over the past year, the stock has declined 10.9%.
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