KUALA LUMPUR: Haily Group Bhd’s wholly-owned subsidiary Haily Construction Sdn Bhd has bagged a contract worth RM41.27mil from Country View Resources Sdn Bhd.
The contract is for phase one of a tourist resort strata development in Johor Bahru.
It involves the construction and completion of 121 units of two-storey Link Villas, one unit of Tenaga Nasional Bhd sub-station and one unit of refuse chamber.
The group said in a filing with Bursa Malaysia that the completion time for the works is 18 months, commencing from Jan 28, 2022.
This is the third contract bagged by Haily in relation to Aurora Sentral in a span of less than a year.
To recap, in March 2021, Haily was appointed to construct 147 Link Villas in Aurora Sentral for RM45.08mil and a clubhouse with swimming pool for RM6.74mil.
With the addition of the new project, Haily’s outstanding order book value provides earnings visibility up till 2023.
“The challenges in the overall economy and the construction industry have not stopped our growth.
“In the past five months alone, we have successfully bagged seven contracts, including from well-known listed companies such as IOI Properties Group Bhd, Mah Sing Group Bhd and Country View Bhd,” it said.
The group said amidst the uncertainties arising from the Covid-19 pandemic, it is cautiously optimistic of its prospects and the outlook of the construction industry, given the expected recovery for the overall economy this year.
“The group will remain focused on residential building construction while expanding into industrial building construction,” executive director See Tin Hai said in a statement.