Haily unit secures RM40.7mil construction project


According to Haily executive director See Tin Hai (pic), the overall duration of the latest contract is 20 months.

PETALING JAYA: Construction company Haily Group Bhd bagged a RM40.67mil contract to develop three-storey shop offices in Tebrau, Johor.

In a statement yesterday, the Johor-based group said its wholly-owned subsidiary, Haily Construction Sdn Bhd, was awarded the contract by Austin Senibong Development Sdn Bhd.

The job involves the construction of 99 units of shop offices, one unit of Tenaga Nasional Bhd (TNB) sub-station and four units of TNB compact sub-station in Tebrau.

With the latest win, Haily’s total project value increased to RM557.89mil.

This involves 22 building construction projects and two ongoing civil engineering-related construction projects.

According to Haily executive director See Tin Hai, the overall duration of the latest contract is 20 months.

Works are expected to commence within three months from the date of the letter of award.

“The construction sector in Malaysia was affected by the Covid-19 pandemic.

However, we are optimistic on the recovery of the industry with more projects resuming after the movement control order in Malaysia was lifted.

“Our order book shall keep us busy for the near term and contribute to the group’s earnings and net assets for the financial years ending Dec 31, 2022 and Dec 31, 2023,” he said.

In the current quarter ending Dec 31, 2021, Haily said it has won tenders for construction projects amounting to about RM100mil.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Tax cuts will boost economy, provide multiplier impact: Tengku Zafrul
Budget 2023: Govt to enhance green tech financing scheme
OGSE players to benefit from RM1bil maritime and logistics fund
MNOs execute share subscription agreements with DNB
Govt extends tax breaks on listing expenses to tech companies on Bursa Malaysia
ASB, ASB 2 investment limit increased to RM300,000
Govt allocates RM92mil towards developing halal industry
EPF's investment income falls 21% to RM27bil in 1H22
Budget 2023: Reactions from the financial sector
SemarakNiaga initiative receives RM45bil to spur business activity

Others Also Read