Haily wins RM17.5mil construction contract from Mah Sing

Haily founder and executive director See Tin Hai

KUALA LUMPUR: Haily Group Bhd has secured another contract worth RM17.5mil from Meridin East Sdn Bhd, a wholly-owned subsidiary of Mah Sing Group Bhd.

The construction group, in a statement, said its wholly-owned subsidiary, Haily Construction Sdn Bhd, had on Sept 7 accepted a letter of award (LoA) from Meridin East for the construction of Parcel 2H3 of the Meridin East township.

The LoA entails the construction of 108 units of 18’ x 70’ double-storey terrace houses in Plentong, Johor.

The construction project will take a period of 16 months, with the commencement date to be advised by the project’s superintending officer.

Haily noted that the contract is a “firm price contract” and shall not be subjected to any fluctuation in costs other than variations sanctioned under the conditions of the contract.

Haily founder and executive director See Tin Hai said the achievement aligned well with its future growth to further solidify its standing within the construction industry.

“Moving forward, the group expects its performance to be driven by its existing ongoing construction projects as well as new construction projects expected to be secured.

“The group views that its financial results for the financial year ending Dec 31, 2022 will remain favourable,” he said.

“With the latest job win, our order book comprises 24 ongoing projects with a total contract value of RM578.12mil, which is expected to be progressively completed between 2022 and 2024,” See said.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Haily Group , Meridin East , Mah Sing


Next In Business News

DHL Express transitioning towards EV fleet in Malaysia
Oil prices fall more than 1% as dollar scales new peak
China real estate shares, bonds slump on report of CIFI default
Etiqa, MIPFM sign MoU for exclusive professional indemnity insurance for property managers
Ageson unit enters MoU to sell 9.3-acre Gombak land ahead of proposed development
Scientex Packaging expansion plans remain on track
Betamek in talks with partners to develop innovative product solutions for auto market
Bursa joins Asian equities sell-off as recession risks grow
Maybank to fully migrate to Secure2U authentication for online transactions by June 2023
IHH sees upside potential now Fortis MTO hurdles resolved

Others Also Read